indythinker85

LOL i think he has a different sense of humor. He seems like good guy, but I would NOT want to be on his bad side. Just discovered his letters are public. http://brontecapital.com/Letters.html

Yeah Eric is nice guy it seems he doesnt post ideas as much lately in his letters http://www.valuewalk.com/2013/11/khrom-capital/ Thanks for the comments on Riskowitz, I dont know SA equities well (and he seems to). I was going to recommend a few small hedge funds for a colleague of mine to invest in (have been trying to convince them to lock up money in good value fund instead of usual risky investments, Khrom was on the list, as well). Will look more at the performance but I think even if concentrated really stands out for 3 years. Berkowitz is concentrated and not all those years were great (of course managing a few million vs billions is very different, but I digress).

For eight years, until her resignation last month, Fitch banks analyst Charlene Chu has done just that, warning of the impending collapse of China’s debt-fuelled bubble. Born and raised in America and a graduate of Yale, she has claimed in painful detail that China has embarked on an unprecedented experiment in credit expansion that far exceeds anything seen before the financial crisis that rocked Western markets six years ago. Working out of Beijing, Chu has developed a reputation that has seen her hailed by some of the world’s most important money managers as a “heroine” and treated as a pariah by some within China’s financial elite. In a country where the banks, even the largest, are not known for openness, Chu has warned since 2009 about a rapid expansion in lending that has seen something close to $15 trillion (£9.1 trillion) of credit created, fuelling a property and infrastructure boom that has no equal in history. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10611931/The-15-trillion-shadow-over-Chinese-banks.html

http://finance.fortune.cnn.com/2014/02/03/yahoo-sued-buffett-ncaa/

The Fund’s 63.2% gross return to Limited Partners was achieved despite a 23.5% depreciation in the value of the South African rand against the U.S. dollar. On a constant currency basis, the gross return would have been 101%. The three-year net return (in dollars) is 239.5%, or 50.3% annualized. http://www.valuewalk.com/2014/02/riskowitz-value-letter-2013/

The problem is that even post JOBs act (where hedge funds are more laid back about this stuff) you can only post FULL hedge fund letters if you have permission, otherwise there are copyright issues. You can get around that by adding analysis to segments from the letters (long topic and i dont claim to be legal expert). Most of the big funds are not looking for investors and prefer no one reads their letters besides clients, however, some are more strict than others ie Baupost will not allow letters to be posted, Greenlight wont stop it. Therefore, I do not know of any site which posts these letters in full. However, Loeb's letters are public (not everyone knows that) http://www.thirdpointpublic.com/ and here are some sites which seem to do stories on the major funds on regular basis http://www.hedgefundintelligence.com/ http://www.zerohedge.com/ http://www.bloomberglink.com/people/kelly-bit/ (you might want to check out Bloomberg Briefs), http://www.businessweek.com/authors/1517-katherine-burton, http://marketfolly.com/ http://www.valuewalk.com/ http://online.wsj.com/search/search_center.html?KEYWORDS=ROB+COPELAND&ARTICLESEARCHQUERY_PARSER=bylineAND http://dealbook.nytimes.com/ if im missing any let me know. Also you might find some letters from time to time (like old Baupost ones) but its much harder to find full Baupost letters from any recent years.

This guy is the new CSInvesting! http://oddlotinvest.files.wordpress.com/2014/01/meryl-witmers-barrons-picks-2002-2014.pdf

http://www.forbes.com/sites/steveschaefer/2014/01/15/wally-weitz-on-value-investing-and-keeping-pace-with-a-raging-bull-market/

http://www.valuewalk.com/2014/01/kerrisdale-capital-2013-letter-jll-iaci/

http://www.bloomberg.com/news/2014-01-28/druckenmiller-lawyer-takes-on-hedge-funds-over-contracts.html

What do you think of this list IMHO its too long but some good points http://www.valuewalk.com/2014/01/company-valuation-checklist/

http://www.bloomberg.com/news/2014-01-22/berkshire-said-to-face-start-of-u-s-scrutiny-on-systemic-risk.html

http://video.cnbc.com/gallery/?video=3000238465&play=1

http://www.valuewalk.com/2014/01/aapl-greenlight-letter-q4-14/

No position, but they are far from the first to claim Blackberry is a value play (not a value trap) http://www.citronresearch.com/wp-content/uploads/2014/01/the-new-bbry-final.pdf.

Too lazy to search but form ADV (public on SEC website) has to disclose all AUM. If hes just investing in same securities (unless i skimmed too quickly) why bother with mutual funds. I mean he has billions in AUM so he cant just close them, but hed make more if he tried to get existing and new investors to HF (gonna assume most AUM is from qualified/instit).

Wonder who will buy it. I think Tilson and Heines do a solid job with it maybe Manual of Ideas? Could be some synergies there. http://www.valuewalk.com/2014/01/whitney-tilson-value-investor-insight-sale/ And the more humorous version http://www.zerohedge.com/news/2014-01-17/if-you-are-value-investor-whitney-tilson-has-deal-you

http://www.morningstar.com/Cover/videoCenter.aspx?id=630744

http://www.valuewalk.com/2014/01/paul-singer-davos-speech/

Excellent question! Deal with this all the time. I tell them dont take ANYONE's stock picks (including myself). I tell them if they want to invest for the long term open a Vanguard account and offer to give them a list of some good books on asset allocation (like Peter Bernstein). For so many reasons I refuse to recommend specific securities. It might not be the most ideal method, but i think its the best for starters (and for many advanced investors).

Corner of Berkshire making a name for itself. https://twitter.com/felixsalmon/statuses/42317763144227635 @felixsalmon 4h New Michael Lewis book to be titled “Flash Boys”, about high-frequency trading, says the internet: http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/michael-lewis-on-the-next-crisis-%28businessweek-article%29/30/ … ^@cardiffgarcia

I assumed there would be general thread on this topic, cant find one but assume I missed it. Anyway, Im looking at some of the following Korean Prefs LG Chem, SEC, Doosan, Marine Ins., Samsung Fire, Hyundai Motor, Lotte Chilsung, Daesang Corp, among some others (happy to put down entire list of initial prefs) curious if anyone has looked into them and if so their thoughts. Also anyone know Fidelity rules for these securities? Thanks in advance.

When Warren Buffett made a bid for troubled Media General's newspapers, analysts wondered whether the legendary investor had lost his fastball. Hardly, as Benjamin Esty's case reveals. http://hbswk.hbs.edu/item/7417.html

Im guessing no since pic is from NYP but dying to know for sure http://eddielampert.wordpress.com/

Graham still working after 70 years: Negative Enterprise Value In summary, despite one total loss, the negative EV cohort gained more than 32% over the last five months while the S&P gained just shy of 9%. http://www.valuewalk.com/2014/01/negative-enterprise-value-stocks/ Negative Enterprise Value Portfolios After One Year http://greenbackd.com/2013/12/04/negative-enterprise-value-portfolios-after-one-year/