Category Archives: Commentary

The Value Guys

Some people like to listen to the Car Talk guys on Saturday mornings.  I sometimes catch their show on NPR while I make my trek down to the local coffee shop for my morning espresso.  I’m not inherently a car guy … Continue reading

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Deliberate Practice

I recently read a Whopper Investments blog post on deliberate practice.  Whopper issued a deliberate practice challenge to analyze various companies that have been investments of well known value investors in the past.  The first challenge was Warren Buffett’s purchase … Continue reading

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It’s Déjà Vu All Over Again

I about fell out of my chair at my local coffee shop while reading Seth Klarman’s Margin of Safety.  As a novice student of financial history, I have always operated under the apparently misattributed quote by Mark Twain, “History doesn’t … Continue reading

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Investing, Speculating and Gambling

It is not a case of choosing those [faces] that, to the best of one’s judgment, are really the prettiest, nor even those that average opinion genuinely thinks the prettiest.  We have reached the third degree where we devote our … Continue reading

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Value Investing Congress

As I reflect a couple of weeks later on my attendance at the Value Investing Congress in Pasadena, I’m not sure which presenter I would rank number one.  Luckily, the dispersion between the best and the worst presenters was low.  … Continue reading

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Waffling

When the facts change, I change my mind.  What do you do, sir? -John Maynard Keynes I made a mistake in my last post Woodstock for Capitalists or Why I’m Not Buying Gold. I need to change one word in … Continue reading

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Woodstock for Capitalists or Why I’m Not Buying Gold

It seems more than appropriate to start off with the Berkshire Hathaway annual meeting.  After all, it was Warren Buffett’s Chairman letters that introduced me to intrinsic value, Benjamin Graham and the three most important words in investing:  margin of … Continue reading

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