Wednesday, November 4, 2015

Compilation of Value Links From Around the Web: November edition

Below is a compliation of the most interesting reading I've come across in the past month. 

Buffett, Munger and Berkshire:

Warren Buffett interview on CNBC:
Warren Buffett Not “Losing Any Sleep” Over Market Gyrations: Fox Business
Warren Buffett's Take on China, Wages and Donald Trump: Bloomberg Business
Berkshire’s Abel targeted by pilots union: Bloomberg
Buffett Builds Rail Superhighway to Grab Truck Freight:  Bloomberg
Warren Buffett's Full Interview on 2016 Election & More at the Fortune Most Powerful Women’s summit: Youtube
Munger bashes Valeant: Bloomberg
Profile of Tracy Britt Cool: Fortune
A dozen things learned about mistakes from Charlie Munger: 25IQ

Guy Spier and Mohnish Pabrai:

Ask anything session with Guy Spier: Beyond Proxy
Guy Spier on what to do about market turmoil: Observer
Notes from the 2015 Pabrai Funds meeting: Frenzel Herzing, Bits Business
An interview with Guy Spier: Bloomberg

Seth Klarman:

Would Seth Klarman Buy His Own Book? Link
The collected wisdom of Seth Klarman: Scribd

Other reading:

Presentation on General Motors by Ninad Shinde: Link
Sanjay Bakshi on the prejudices of mister market: Google Talks
Interview with Howard Marks: Youtube
Howard Marks latest memo: Inspiration from the world of sports: Oaktree Capital
Sohn Canada Investment Conference Notes 2015: Capitalize For Kids: Market Folly
Donald Trump’s persuasion tactics:
Ben Bernanke on Charlie Rose: Charlie Rose
The latest issue of the Graham and Doddsville newsletter: Columbia Business School
Wilbur Ross on world economic conditions: Fox Business

Tuesday, September 8, 2015

Compilation of Value Links From Around the Web: September edition

Here is my compilation of the most interesting topics from around the web:

My investment thesis on Hyundai Motor:

Manual of Ideas published my investment thesis on Hyundai Motor: Manual of Ideas

Warren Buffett and Berkshire Hathaway:

Berkshire is undervalued: David Kass Blog

Warren Buffett letter to Barron’s from 1962 on dubious accounting methods:Barron’s

How BYD began making electric buses in the United States: Paulson Institute

Heinz completed Kraft purchase and Buffett joins the board: NYT

Berkshire Hathaway Inc. to Acquire Precision Castparts Corp. for $235 Per Share in Cash  - $37.2 billion: Berkshire Hathaway

Warren Buffett on CNBC discussing Precision Castparts, IBM, and media companies:  Transcript

and videos:

Francois Rochon discussing Precision Castparts: Value Investor Insight

Warren Buffett on Squawk Box August 10thCNBC

How Warren Buffett built his empire: Forbes 1990: ValueWalk

An analysis of GEICO by Sanjay Bakshi

Charlie Munger:

The Super Investors of Daily Journal Corp: Forbes

Charlie Munger interviewed by CNN Money:

Charlie Munger on frozen corporation: DropBox

Mohnish Pabrai:

Mohnish Pabrai – Bridge and its similarities to investing: Sound Cloud

Mohnish Pabrai on the U.S. as an emerging market: Manual of Ideas

Seth Klarman:

Baupost letter to investor from June 1999: SEC Filling

Seth Klarman’s presentation to Bruce Greenwald’s 2010 CBS class: Youtube

Seth Klarman on the decision the hold cash – 2004 letter: Link

Seth Klarman in Barron’s in 1991: ValueWalk


Google’s official blog announcing Alphabet: Google Blog

Alphabet lets Google chase moonshots and stay profitable: WIRED

Other reading:

David Einhorn at the Grant’s Conference: ValueWalk

Keith Smith interviewed by the Manual of Ideas

Jeremy Grantham “We’re Closing in on Bubble Territory”: Morrningstar

Tom Gaynor at Google: The Evolution of a Value Investor: Youtube

Joel Greenblatt’s special situation class – analysis of Mood’s from 2006:HedgeRoll

Walter Schloss notes from Net Net Hunter

Greenlight Capital Q2 2015 letter to investors: Scribd

A rare interview with the man who cracked Wall Street – Jim Simons: TED

Thursday, June 18, 2015

Compilation of Value Links From Around the Web: June edition

Here is my compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,



Notes from the Berkshire Hathaway Annual meeting:

Analysis of the Berkshire Hathaway Annual Meeting | WSJ

Notes from the Berkshire Annual Meeting by David Kass | David Kass

Other annual meeting notes: Valuewalk, S&C Messina, Motley Fool,  Business Insider

Notes from the Daily Journal Annual meeting:

Notes from the Daily Journal Annual meeting | Aznaur Midov

Two hour audio clip of Charlie Munger answering questions at the Daily Journal annual meeting | ValueWalk, Bamboo Innovator,

Daily Journal Annual Meeting – coverage by Forbes| Part 1, Part 2, Part 3 and Part 4

Chai Jing's review: Under the Dome – Investigating China’s Smog: Charlie Munger recommended watching this at his annual meeting |  Youtube

Warren Buffett:

Notes from the Meeting Dr. George Athanassakos and Ivey MBA and HBA students had with Mr. Warren Buffett | Ben Graham Investing

Jeff Cunningham interviews Warren Buffett | Youtube

Analysis of the investments made by the Buffett Partnership | Bull Bear and Value Blog

How Warren Buffett keeps up with information |  Farnam Street

Buffett: No stock market bubble, but few bargains | CNN Money

Buffett: Tesla doesn't threaten me | CNBC

Mohnish Pabrai and Guy Spier:

Mohnish Pabrai and Guy Spier in Conversation with Saurabh Madaan | Talks at Google

Video from Guy Spier’s Aquamarine Capital 2013 Partnership meeting | Link


Would Benjamin Graham have hated index funds? | WSJ

A dozen things learned from Lou Simpson | 25IQ

A conversation with Joel Greenblatt – Interviewed by Howard Marks| Youtube

Greenlight Capital Q1 2015 letter | Value Walk

2015 Sohn Conference presentations | Marketfolly

Benjamin Graham’s last interview | Link

Baidu CEO interviews Bill Gates and Elon Musk | Youtube

SALT conference – Chanos, Bass, Burbank, Cooperman | Marketfolly

Bill Gates interview: How the world will change by 2030 | Youtube

Warren Buffett on CNBC after the Berkshire Annual Meeting:

Thursday, March 26, 2015

March Compilation of Value Links From Around the Web

Here is my compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,



Warren Buffett:

Berkshire’s portfolio changes in Q4: Dataroma

Buffett delegating more to his deputies: Salt Lake Tribune

Buffett tells deputies to supervise newest Berkshire businesses: Bloomberg

Buffett’s German to do list: Handelsblatt

The fun has just started in auto sales Buffett says: Bloomberg

Buffett’s son is not heir apparent: CNBC

2014 Berkshire Annual report links:

2014 Berkshire Hathaway Annual Report: Berkshire

Article Buffett mentions on Jim Ling: D Magazine

Grading Buffett after 50 years: Fortune

Buffett on CNBC: Value Investing World

Berkshire’s acquisition of Kraft:

3G to acquire Kraft: Bloomberg

How Kraft Rolled out the welcome mat: WSJ

Kraft and 3G: WSJ

“Will own Kraft forever” says Buffett: CNBC

3G buying to keep: CNBC

Kraft Heinz structure: CNBC

The Kraft negotiations: CNBC


How to develop your best investment ideas with Josh Brooks of Granite House Capital: Youtube

Wilbur Ross on the housing market and oil prices: Bloomberg

Highlights from Seth Klarman’s 2014 letter: Bloomberg

More highlights: Valuewalk

Baupost sifted through energy companies: Bloomberg

Mohnish Pabrai at TiE SoCal: Youtube

Mohnish Pabrai and Guy Spier Google Talk: Youtube

Tribute to Donald Keough who lead Coke through the New Coke debacle: New York Times

Tribute to Irving Kahn who lived until 109 and worked under Ben Graham: Bloomberg

Friday, February 20, 2015

Invitation: YellowBRKers Meet and Greet at the Berkshire Annual Meeting

Dear readers,

You are invited to an event I host every year during the Berkshire Hathaway Annual Meeting weekend.

YellowBRKers 2015 details:

The 2015 event will be held at the same time and location as in prior years.

Friday May 1st from 4PM to 7PM

DoubleTree by Hilton Omaha Downtown
1616 Dodge Street
Omaha, NE 68102

For more details and registration:

I look forward to seeing you there!


Tuesday, February 17, 2015

February Compilation of Value Links From Around the Web

Here is my compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,



Wilbur Ross “Why I’m ready to invest more in Europe.” CNBC

Wilbur Ross on Oil: CNBC

Five Good Questions with Mohnish Pabrai and Guy Spier: Part1, Part2

Demographics of India are Promising For the Future – Mohnish Pabrai: Bloomberg India and Part 2

Mohnish Pabrai's December 2014 talk to Sanjay Bakshi's MDI class: Value Investing World

Bill Gates’s Big Bet on Reducing Poverty: Bloomberg

Bill and Melinda Gates Foundation Annual Letter: Gates Notes

Bill and Melinda Gates discuss their foundation's work to improve global healthcare and combat poverty: Charlie Rose

Greenlight Capital’s Q4 letter: Marketfolly

Longleaf Partners Q4 Letter: Longleaf

Bruce Berkowitz on Sears: Valuewalk

Bank of America B warrants (hint – I own BAC/WS/A in my portfolio. Not the B warrants): Beyond Proxy

Klarman: What I’ve learned from Warren Buffett: CNBC

Atul Gawande: The Building Industry’s Strategy for Getting Things Right in Complexity: Farnam Street

Bill Gates at Davos 2015 – Sustainable Development A Vision for the Future: Value Investing World

Highlights of Warren Buffett Interview on Fox Business: David Kass

GMO 4th Quarter letter: GMO

Inside Google’s Secret Lab: Graham and Doddsville

Wednesday, December 31, 2014

Weekly Compilation of Value Links - December 31st

Here is my weekly compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,



Guy Spier on Investing and Life: Marketfolly

Five questions for Pabrai and Spier: Fivegoodquestions

2014 Pabrai Funds Notes: Bitsbusiness

Mohnish Pabrai talk at Boston College: Youtube

Mohnish Pabrai Barrons interview on Bank of America, Citi, Google and Hyundai: Barrons

Mohnish Pabrai at the Economic News of India: Economic Times

Q&A with Warren Buffett at the Forbes 400 Philanthropy Summit: Youtube

Berkshire Hathaway acquires Charter Brokerage: Yahoo Finance

Susan Decker on what its like to be on Berkshire’s board: Bizjournals

What Tom Murphy taught Warren Buffett: Quartz

Charlie Munger 2008 Caltech lecture: Youtube

Howard Marks on Investing in Russia: Bloomberg

Howard Marks memo : The Lessons of Oil: OakTree

NYSSA interviews William Thorndike of The Outsiders: Youtube

Larry Cunningham: Berkshire and Buffett Today: Culture, Control, and the Duracell Deal: Beyondproxy

Value Investor Insight interview with Keith Trauner and Larry Pitkowski: Value Investor Insight

“Dream, People, Culture”: Carlos Brito, CEO of Anheuser-Busch InBev: Value Investing World

Discussion of Henry Singelton’s business success: Seeking Alpha

Leon Cooperman presenting on the strategies of Henry Singelton: NYSSA

Henry Singleton in Forbes magazine 1979: Forbes

Joel Greenblatt on Wealthtrack: Youtube

Graham-Newman Letters to partners 1946-1958: RBCPA

Warren Buffett’s 2014 letter to Berkshire’s top managers: WSJ

Monday, November 17, 2014

Weekly Compilation of Value Links - November 17th

Here is my weekly compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,



Google Talks featuring Larry Cunningham author of: Berkshire Beyond Buffett”: Youtube

Notes from the Capitalize For Kids Sohn Canada 2014 featuring Ainslie, Adrangi, Gottfried, Akre etc: Marketfolly

Atul Gawande on his book: “Being Mortal: Medicine and What Matters in the End”: Charlie Rose and at the Aspen Institute

Tracy Britt Cool in Fortune Magazine: Fortune

Advice from Tracy Britt Cool: CNBC

Sandy Gottesman talking about long time friend Warren Buffett: Bloomberg

David Enhorn on CNBC talking about opportunities he is finding: CNBC, His short thesis on AthenaHealth (CNBC), Apple is firing on all cylinders (CNBC), People are misunderstanding SunEdison (CNBC)

Kyle Bass on his investment in General Motors: CNBC

Berkshire Hathaway’s wind investments: WSJ

Interview of Lee Carroll, CEO of Berkshire Hathaway Specialty Insurance: Business Insider

Michael Lewsi on the 25th anniversary of Liar’s poker: Charlie Rose

Elon musk speaks about Tesla and SpaceX at Vanity Fair’s New Establishment Summit: Youtube

Warren Buffett’s 6 best investments of all time: Fortune

Notes from Sohn Conference San Francisco: Marketfolly

Interview of Google co-founder and CEO Larry Page: Financial Times

How Berkshire’s Brooks Running Shoes plans to become a billion dollar brand: Fortune
Julian Robertson on the three most important things in investing: Marketfolly, thoughts on the bond bubble (Bloomberg), Asia is a golden place for hedge funds (Bloomberg) and Japan’s economy needs more juice (Bloomberg)

Bruce Berkowitz on managing risk and reward: Youtube

Donald Graham speaks about Warren Buffett and Berkshire Hathaway: David Kass

Profile of Larry Cunningham’s “Berkshire Beyond Buffett”: WSJ

Warren Buffett’s recent acquisitions of capital intensive companies: WSJ

Old files from Walter Schloss surface: Valuewalk

Buffett’s BNSF bet is paying off: Bloomberg

John Malone and his use of tax breaks: Bloomberg

Will Thorndike on when share buybacks are a good idea: Harvard Business Review

Berkshire to acquire Duracell : David Kass blog

What was bought and sold in Berkshire’s portfolio in the 3rd quarter: David Kass Blog

What successful fund managers were buying in selling in the third quarter: Dataroma

Tuesday, October 28, 2014

Weekly Compilation of Value Links - Oct 28th

Here is my weekly compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,


Buffett’s 1966 investment in Walt Disney: Base Hit Investing

Buffett’s 1983 acquisition of Nebraska Furniture Mart: Value Investing World

Graham and Doddsville Newsletter Fall Edition: Columbia

Tracy Britt named CEO of the Pampered Chef: Bloomberg

John Malone interview compilation: Youtube

Buffet’s stock pickers Todd Combs and Ted Weschler: Fortune

Capital In The 21st Century: The Gates Notes

Buffett cuts Tesco stake: Bloomberg and WSJ

Larry Van Tuyl on the sale of his business to Buffett: Automotive News

Great Investors Best Ideas Dallas 2014 Notes from Perry, Einhorn, Ackman etc: Market Folly

Monday, October 13, 2014

Weekly Compilation of Value Links - Oct 13th

Here is my weekly compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,



Joel Greenblatt interview on CNBC – September 23rd: CNBC

Warren Buffett transcript discussing the Van Tuyl Group on CNBC Oct 5th: CNBC

Warren Buffett interview with Carol Loomis at the Fortune Most Powerful Women’s Conference: Link and a video of him signing to 400 women: Link

Buffett rolls out the Berkshire Hathaway Brand: CNBC

Buffett says getting a mortgage is a ‘No-brainer’: Bloomberg

Walter Schloss interview in OID from March 1989 with a letter from Warren Buffett: Link

Guy Spier discussing his new book The Education of a Value Investor: ValueConferences

Peter Buffett in the Washington Post October 10th: Washington Post

Notes of Charlie Munger’s Daily Journal Meeting from Phil Demuth of Forbes: Part 1, Part 2, Part 3, Part 4.

Interview with Prem Watsa with Chennai: Part 1, Part 2