“Value” has a number of different components all tied at the hip. Internally, we simplify by mentally handicapping companies as either “Buffets or Grahams” based
Stuart Miller, Executive Chairman, Lennar Corp.March 19th Conference Call “But as you all consider framing your questions, please remember that the national landscape continues to
This is the basic version of a letter we are sending to Classic Value Small Cap clients this quarter. These thoughts are applicable across all our
New York Governor Andrew Cuomo was asked at a press conference on March 31st about the risks of purchasing redundant medical equipment: “We are broke.
There aren’t that many times in an investor’s career when the environment changes so much in a few weeks. The following interview on the ValueWalk’s
Call us crazy, but the thought occurred us in the last few weeks that there might be stocks that have gotten crushed in the last
Well…he has less competition. From the ViaSat files: SoftBank’s OneWeb Is Said to Mull Bankruptcy as Cash Dwindles (Reprinted from Bloomberg, by Eliza Ronalds-Hannon, Gillian
Klarman Sees Bargains, Baupost Seeks More Capital During Chaos (Reprinted from Bloomberg, Michael McDonald, 2020-03-19) Seth Klarman is bargain hunting. The value investor told clients
Dear CSC Partner: In this uncharted mess of circumstances in which we are presently all immersed, unless requested otherwise, we will try to keep our
BREAKING: We interrupt this regularly scheduled letter for a brief and likely useless take on “the virus.” The first issue is that when a
From the 2020 Berkshire Hathaway Annual Letter to Shareholders: Board of Directors In recent years, both the composition of corporate boards and their purpose
