VersaillesinNY

I'm a big fan of Carol Loomis, this interview has been under the radar, let's share it. Carol Loomis, Trailblazer in Financial Journalism - April 26, 2018 https://www.youtube.com/watch?v=gcRUXCXkg8s

David Poppe retiring from RCG at 54 years old!? David is a Natural Born Value Investor! It seems that the Valeant fiasco is still producing some collateral damage at the firm, even if 2 years have passed. Is it a putsch from the young raising stars or an orderly "generational transition"? I hope that David Poppe will eventually explain his move forward, without scaring existing clients. In the meantime, I wish him all the best in his future. I wonder when will they shorten the firm's name to Ruane Cunniff? Perhaps, the day that Robert Goldfarb, a "significant shareholder", will reduce his 25% ownership of the firm.

George Soros Bet Big on Liberal Democracy. Now He Fears He Is Losing. https://www.nytimes.com/2018/07/17/magazine/george-soros-democrat-open-society.html

May 18, 2018 – Investor Day Transcript https://www.docdroid.net/UMlgtw1/may-18-2018-a-investor-day-transcript.pdf#page=2 May_18_2018_–_Investor_Day_Transcript.pdf

The Nutella Billionaires: Inside The Ferrero Family’s Secret Empire https://www.forbes.com/feature/ferrero-candy-empire/#605f8a296c49

Thanks for sharing!

An interesting article and video on David Rockefeller 1915-2017 (Grandson of John Davison Rockefeller, Sr.) http://www.christies.com/features/David-Rockefeller-and-the-art-of-giving-8963-3.aspx

2017 Sequoia Annual Report https://www.sequoiafund.com/Download.aspx?ID=2a7cc777-1e39-46fc-b5b5-068aee839d70&Name=December_31st,_2017_-_Annual_Report

For those interested, here is the transcript: https://www.georgesoros.com/2018/01/25/remarks-delivered-at-the-world-economic-forum/

George Soros on Trump, Social Media and Cryptocurrencies - Davos 01/26/2018 https://www.bloomberg.com/news/videos/2018-01-26/george-soros-on-trump-social-media-and-cryptocurrencies-video

Bonus. Letter_to_Clients_and_Shareholders.pdf RCG_Letter_7-12.pdf Sequoia_clientletter.pdf

Race, here you go. Ann15.pdf

AR 1999-2004 WSJ 1973-1974 letters excerpts Ann00.pdf Ann01.pdf Ann02.pdf Ann03.pdf Ann04.pdf Ann99.pdf Sequoia_1973-74_letters_excerpts_WSJ_5-7-01.pdf

Q4 2017 - Investor Letter http://www.sequoiafund.com/assets/pdf/Q4%202017%20Letter.pdf

Thanks for sharing! i guess Santa came early this year.

Thanks for the links. Stan Druckenmiller is always interesting. I feel that Kelly Evans could have better prepared the questions. She even thought that Druckenmiller supported the Donald during the Presidential campaign while in fact Stan had publicly supported John Kasich on cnbc.

John Constable: Thanks for your past contributions to the board, I enjoyed your stories. Board members: This story is from the October 30, 1989 issue of Fortune. "Mr. Preservation of Capital This teddy bear of an investor is living his boyhood dream. As a boy in Glencoe, Illinois, John Constable, 33, took Warren Buffett as his hero. ”It amazed me that by simply thinking and being careful you could make money in stocks,” he says. Constable followed his dream to Harvard, where he took night-school extension courses and worked all-day as a block trader for the university’s endowment fund to pay tuition. He went on to apprentice at some of the most successful value-oriented investment shops, including three years at Ruane Cunniff & Co., managers of the redoubtable Sequoia Fund. Constable went out on his own in August 1988. He has $28 million under management. As befits a value player in a pricey market, Constable is cautious. He owns a few stocks involved in publicly announced deals where he can make, say, 10% in 90 days if the deal goes through. But he prefers to buy ”wonderful companies” like Nestlé for the longer haul. He owns 160,000 shares, bought at an average cost of $24. Why? ”It was one of the world’s superb food companies selling at 9.5 times earnings,” he says. Nestle traded recently at $25 a share. In large part because Constable has kept 30% of the money entrusted to him in T-bills, his limited partners are only 16% richer than a year ago. That’s not quite up to his 20%-a-year target, but he’s prepared to wait patiently for the day when prices come down and he can accumulate an entire portfolio of Nestles. His clients aren’t restless. ”First and foremost, my investors want preservation of their capital,” he says. "http://fortune.com/2012/11/21/are-these-the-new-warren-buffetts/ http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/are-these-the-new-warren-buffetts/10/

A Q&A with renowned investor Lou Simpson https://insight.kellogg.northwestern.edu/article/investment-great-lou-simpson-explains-portfolio-strategy

"Happy eclipse, folks. It is ill-advised that you stare directly into the sun with your naked eyes during today’s cosmological event — just ask these dudes who tried it the last time around — unless you’d like to risk permanent vision damage. That is … it is ill-advised unless you’re Donald Trump, who apparently doesn’t need special eclipse glasses.[...]" http://nymag.com/selectall/2017/08/trump-stared-into-sun-without-glasses-during-eclipse.html?utm_source=fb&utm_medium=s3&utm_campaign=sharebutton-t

2017 Second Quarter Shareholder Letter http://www.sequoiafund.com/Sequoia-Q2-17-letter.pdf May 19th, 2017 - Investor Day Transcript http://www.sequoiafund.com/Reports/Transcript17.pdf

Congratulations Keith for launching your new fund, it's no surprise to me given your talent.

Yes, Your Parents’ Status Does Influence Your Earning Power https://www.bloomberg.com/news/articles/2017-06-28/yes-your-parents-status-does-influence-your-earning-power

How a 36-year-old Wall Street prodigy saved Burger King http://www.businessinsider.com/how-wall-street-prodigy-daniel-schwartz-saved-burger-king-2017-6

Standing Up for Europe / Op-Ed by George Soros https://www.project-syndicate.org/commentary/momentum-turning-in-favor-of-europe-by-george-soros-2017-06

AUM continue to sink by (20%) in just 6 months. The fund underperformed the index in 2016. The portfolio smells Tobacco (36.7% exposure). http://www.wintergreenfund.com/reports/ar/ wintergreen_fund_annual_report_20161231.pdf