Notes from the 2019 Ben Graham VI Annual Conference, which took place on Wednesday, June 19. The Ben Graham VI Annual Conference is the latest installment of CFA Society New York’s serialized, marquee event. The full-day conference features panels on the current state of value investing—both domestic and international—challenges [...]
There's no denying that Warren Buffett is one of the greats in the world of value investing, but achieving only a fraction of his success can seem like a mountain that's impossible to climb. However, studying some of his decades-old holdings can offer some helpful lessons for those who [...]
ValueWalk's Raul Panganiban interviewed Professor Aswath Damodaran, discussing topics ranging from his book, The Dark Side of Valuation, what should investors do about uncertainty, Bitcoin millionaires, Spotify valuation and much more. This interview was recorded in May 2018 and was recently transcribed. Q1 hedge fund letters, conference, scoops etc Interview With [...]
Over the years, activism has changed quite a bit, and even today, every activist firm has gained a reputation for itself, whether as a strong opponent or a collaborative group or something else. Starboard is a well-known activist firm which has earned a positive place in the activist community. Q1 [...]
This post was created on 3/30/2019 stay tuned for updates up to several times a day! As always we REALLY really appreciate legal letters and tips on hedge funds from our readers regardless of fund size. How is this different than SecurityAnalysis? We have a lot more (on funds both large [...]
The Sohn Monaco Investment Conference got underway today, and many high-profile investors have presented their ideas. Jian Shi Cortesi from GAM Group pitched Chinese internet industry, while Rory Powe from GLG Man pitched a cloud giant as his largest position. Odey's Adrian Courtenay pitched a tech giant and once [...]
David Einhorn's hedge fund, Greenlight Capital, posted its worst-ever loss last year, with its leading fund losing 9% in December alone and a total of 34% for the whole of 2018. However, as it turns out, Einhorn is much better at picking hedge fund managers than he is stocks. For [...]
Steppinstars / Pixabay Concerns about a bear market have begun to grow again after three more months of impressive stock market gains. One hedge fund manager said in his recent Q1 letter that he believes the bear market has already begun, while another highlighted signs of "excessive speculation" and warned [...]
Value investors use a variety of techniques when it comes to developing investment ideas, but one step some might not think to take is conducting interviews. Investing wisely takes quite a lot of research, but it may not always seem natural or even possible to interview the management of [...]
When it comes to value investing, one strategy that's often used is seeking out companies which have sizeable moats against competition. In a presentation for the Value Investing Club at Google earlier this year, Connor Leonard of the Investors Management Corporation explained two ways of looking at moats and [...]
The following are rough notes of presentation from the 2019 Sohn Investment Conference which took place on the 6th of May. Speakers include David Einhorn, Jeffrey Gundlach, Larry Robbins, Lauren Taylor Wolfe, Todd Westhus and many more. Stay tuned for more updates. This is the masterpost so you will be [...]
Charlie Munger is considered to be one of the world's greatest investors, alongside his business partner and longtime friend, Warren Buffett. Q1 hedge fund letters, conference, scoops etc Munger's approach to investing is different from most other money managers. He's not afraid to be greedy when others are fearful and spends [...]
Today is a very very special episode with William Bernstein. He is back for another episode in which we discuss his upcoming book, "The Madness of Crowds". We discuss the history of human irrationality. Dr. Bernstein is a retired neurologist and PhD. He authored many financial books such as [...]
Falling into a value trap is one of the biggest risks value investors face. Unfortunately, there is no set framework for analyzing and discovering traps or even a fixed description of what constitutes a value trap. If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, [...]
When the dot.com bubble burst in 2000--2002, Warren Buffett dived into the market, but he wasn't rushing to buy equities. The Oracle of Omaha moved quickly to take advantage of the situation evolving in the junk bond market. Q4 hedge fund letters, conference, scoops etc In 2003, Buffett described the junk [...]
This post has aLREADY been updated 162 times since January 1st 2019 - please stay tuned for more updates listed in the title As always we REALLY really appreciate legal letters and tips on hedge funds from our readers regardless of fund size. How is this different than SecurityAnalysis? We have [...]
Since its founding in 1970, the Sequoia has earned its reputation as one of the best investment funds ever to have existed. But, as I have covered throughout this series, the fund and its founders, Bill Ruane, Richard Cunniff, and Robert Goldfarb, faced an uphill struggle in its early years. If [...]
Bill Ruane and Richard Cunniff set up the Sequoia Fund in the early 1970s to manage the money of Warren Buffett's former partners, who had been left without an investment manager after Buffett decided to retire from the money management business at the end of the 1960s. If you’re looking [...]
Income inequality is at a new record high in the U.S., according to legendary investor Paul Tudor Jones. He spoke about the issue at the Inside ETFs conference in January and called attention to a Harvard study which found that 51% of Millennials ages 19 to 29 either don't [...]
As I covered in the first part of this series, in 1970, Bill Ruane set up the Sequoia Fund after receiving encouragement from Warren Buffett, who had decided to close his own investment partnerships in 1969. Buffett recommended Ruane to his partners as he believed he was a money manager [...]
The 2008 Graham + Dodd Luncheon Symposium, held at Columbia Business School, took place amid one of the most turbulent times for financial markets since the great crash and 1929. Luckily, it also presented an excellent opportunity for the investors attending to hear how some of the best value investors [...]
It’s not enough to hand over your money to the government anymore. Q4 hedge fund letters, conference, scoops etc Now you have to pay them for the privilege to do so. That’s the basic premise behind negative interest rates: investors around the world are crazy enough to buy government bonds whose yields [...]
