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Digest
Neil Woodford interview London Value Investor Conference speaker Neil Woodford was interviewed by Killik & Co last week, in this video he discusses the approach of his new fund.
“The Security I Like Best”: Warren Buffett’s article on GEICO from 1951 In December 1951, Warren Buffett wrote this article for The Commercial and Financial Chronicle titled “The Security I like Best”; that security was GEICO. In this article, Buffett set out the virtues of GEICO and his view that at 8
Howard Marks’ Latest Memo This latest memo discusses the role of luck, both in life and in investing. Howard discusses numerous examples of where favourable circumstances in conjunction with hard work have led to success. He uses examples of Buffett and others, as well as considering the circumstances of his
Warren Buffett on the irreversible nature of pension plan promises This is a wonderful memo written by Buffett in 1975 to the Washington Post Chief Executive Katharine Graham with advice on the pension plan (which is now one of the few with a surplus). It captures much of Buffett’s often
Michael Price at the London Value Investor Conference Michael Price is less well known in the UK but is very well known in the US Value investing community. He started his career in 1975 as a research assistant at Heine Securities later known as Mutual Shares, by 1988 Michael was
Even a Subpar Sage is Pure Genius John Kay discusses how Berkshire Hathaway owes its stellar success to a model that is sustainable and simple, so it is baffling that there are so few imitators.
Hetty Green: The Witch of Wall Street Hetty Green was perhaps Wall Street’s first value investor. She was born in 1834 when the financial world was entirely dominated by men. At the time of her death she had liquid assets of an estimated $100m. This article tells the story of
Is Tech now ok for value investors? Ever since Warren Buffett announced his investment in IBM, there has been a marked shift in the interest of value investors in this sector. We have believed for some time now that there are some technology businesses which have got such a strong
An Interview with Howard Marks on Bloomberg Oaktree Capital, founded by Howard Marks, manages $77 billion, investing mainly in distressed debt, real estate, and corporate debt. In this interview, Marks sets out his belief that it is impossible to get macro calls consistently right, and equally impossible to time purchases
