Monthly Archives: August 2012

Cove Street Capital Calling

Despite twenty-eight years in the investment management industry and the natural cynicism that comes with experience, I nonetheless retain the ability to be amazed at what can pass for normalcy in the full light of day. Case in point is Avon Products, a company that has a very clear shot at joining the pantheon of the top five worst corporate governance offenders now that Chesapeake Energy has dropped out of contention. How is it possible that former CEO Andrea Jung, […]

Summer Reading Continued

The fault, dear Brutus, is not in our stars, but in ourselves… The latest in a long line of thought provoking pieces by investment consultant guru Charles Ellis about what ails the “business” of investment management and the propensity for all actors—clients, consultants and the managers—to be their own worst enemies in the fiendishly simple process of providing value for clients. CLICK HERE to download the article from CFA Institute publications.

Munger Reprise

I sometimes have a dim realization that I need the same intellectual lessons pounded into me over different time periods in order to avoid the regular and robust temptation to do something stupid.  We will be regularly posting pieces on “thinking” that have come our way over the decades. This reprint of a Charles Munger speech comes to us from Steve Friedman’s excellent Santangel’s Review. After one endures a few minutes of another rendition of “The World According to Charlie,” the […]