Buffett was basically saying to Wall Street firms: “Even if you hire 100 brilliant Ph.D.s to run your models, no sensible estimate will emerge.” These
It doesn’t matter whether company size is measured as assets, market value, sales, revenue, or number of employees — bigger firms pay more … way more.
The Verdad people do interesting work. That they tend to conclude with our internal bias towards toward small and value makes them even more fascinating.
”But what if you found out that key data underlying that breakthrough were actually wrong?” Academic research is fun-ish. A problem with making money from
The idea of regulation and the establishment of a legitimate exchange is to ensure that phony and fraudulent ideas DON’T go public in the first place.
Let’s be clear. Investing money is really about one of at least three things: structuring a pool of capital to meet stated goals, simply making
A sneaky little cull from the Financial Times this week on the world of Private Credit. Some in long pants might recall the former Citi CEO calling the top in 2007.
And it deserves widespread distribution. SEC Charges Newell Brands and Former CEO for Misleading Investors About Sales Performance FOR IMMEDIATE RELEASE 2023-210 Washington D.C., Sept.
By Dawn Lim, Layan Odeh and Linly Lin (Bloomberg Businessweek) — In its heyday, Fenway Partners snapped up a fleet of companies from outposts overlooking
I would think the general institutional investor that is in Private Equity funds understands that they are buying into a pool of investments, each of
The world turns. New people are born and eventually move off the couch and into something resembling employment. And thus new generations of nonsense about
From Berkshire Annual Meeting 2023: What gives you opportunities is other people doing dumb things. And it’s — and I would say that — well,
From industry rag FundFire: Janus Henderson CEO Ali Dibadj is making no secret of his goal to buy private credit capabilities, saying in an earnings
I will categorically deny that I have ever hired anyone for the simple reason that I did not want take a turn at voting CSC
There are some events that prove you entirely wrong, regardless of how “off spreadsheet” they are. Was this one of them?
From time to time, there are some decent questions raised about investing that emanate from the academic world of investment research. You should always dig
As the designated proxy analyst this spring, I had the recent pleasure of pouring over nearly 100 proxies – between both companies we do and
Clipped from a recent and almost always good The Diff/Bryne Hobart blog: First, there are some traits good investors need that are fairly stable over
This “may” be a version of me admitting in 2023 that cat videos exist and are very cute, but since it is a long essay
You can run your PA as you see fit. We would suggest this is your second largest position as is ours. This recent presentation does
Yes, that is the Principal at the far end as the moderator for an investment panel at the Markel Annual Meeting (Yes – please come
There is a relatively new top 5 Position. What is the value of the privately held portfolio? We paid for zero. The future remains uncertain
Verdad Research puts forth these boxes. It sums up to old school CFA stuff: you tend to get paid well in statistically cheap and you
This is from an X shareholder in CNX Resources we mentioned in a previous blog. “I was recently reading or listening to something – I
Get sucked into this “crazy” mentality which works for every industry but oil and gas. Own assets near the largest “users” of natural gas in
WB is running around Japan meeting his “Big 5” Japanese investments and raising nearly free capital to fund it, which is another neat way of
