valuefinder0525

"Baupost® posted high single-digit gains across all partnerships for the year ended December 31."

The article makes me think about our industry (investing). It is much harder these days to find lasting businesses. There are a few other examples of these disruptors. Casper in mattresses Blue Nile in diamond rings Warby Parker in glasses

Does the author of that blog disclose his track-record (since-inception IRR)? I couldn't see it. No sure on the track record

https://oraclefromomaha.wordpress.com/2016/05/05/jd-com-a-multi-decade-compounder/ https://oraclefromomaha.wordpress.com/2016/06/13/a-response-to-the-jd-short-thesis-on-sumzero/

SH-HK stock connect http://www.hkex.com.hk/eng/market/sec_tradinfra/chinaconnect/Documents/List%20of%20Eligible%20Stocks%20for%20Northbound%20Trading%20(Eng).pdf

Moutai https://www.valueinvestorsclub.com/idea/Kweichow_Moutai_Co./138109

What are some of the research tools that people use in their investment process? A few that come to mind listed below: To check insider transactions http://openinsider.com/ To check executive salaries http://www.salary.com/Executive-Salaries/ To check political lobbying spending by companies https://www.opensecrets.org/ To check macro data points http://www.statista.com/ To screen for ideas http://finviz.com/ To check 13f filings http://www.dataroma.com/m/home.php

Yes I completely agree with you. Many of his investments have been "creating the industry" around the particular company which he picks. It's truly amazing to have the ability and capital to do that.

Starting this thread to see if anyone has any information on Zhang Lei of Hillhouse Capital. It has been reported that he has annualized at ~40% since inception with AUM of around $18bn now. If anyone has access to investor letters or any other info it would be greatly appreciated if you could share them here. Below are some articles that I have found online. http://www.nytimes.com/2015/04/03/business/the-chinese-billionaire-zhang-lei-spins-research-into-investment-gold.html http://www.ft.com/cms/s/2/6f160a50-f5fe-11e3-a038-00144feabdc0.html http://www.wsj.com/articles/stanford-is-giving-this-chinese-investor-200-million-1439854567 http://www.marketfolly.com/2015/07/lei-zhangs-lecture-at-columbia-business.html http://www.cenveomobile.com/i/367435-summer-2014/43 http://www.insidermonkey.com/hedge-fund/hillhouse+capital+management/481/

JD If you believe in the Chinese consumer and the superior business model of JD, this is your best 10 year bet.

http://www.valuewalk.com/2016/03/arlington-value-capital-2015-annual-letter/

Do you guys know where I could find the best writeup for BRK? Thanks a lot :)

It always seems that when BRK is getting close to the 1.2x book the stock portfolio (IBM, AXP, etc.) declines as well. So you never hit the 1.2x book mark for Buffett to start repurchasing.

MHFI (or MCO) V (or MA) IBKR

If you were to choose three companies to invest in for the next ten years. (After you invest in them you will be transported to another planet with no connection to this world for the next ten years) What would they be?

Losses in public markets portfolio (AXP, IBM) Weakness in rail Weakness in P&C, reinsurance Weakness in aerospace (PCP) Concern over Buffett's health

NOV

Thanks a lot for the explanation. How about the actual numbers? For example, for the declining business, would you increase the taxes in the next couple of years if you think the DTLs will decline and you will have to pay higher cash taxes?

Dumb question but.... How do people usually model deferred tax liabilities in their models?

http://www.valuewalk.com/2015/07/t11-capital/ How much capital are they running? Looks like they only invest in very small companies. Hard to keep those returns up if you expand.

Moutai

Anyone wonder why Ted/Todd hasn't gotten Berkshire more involved with Malone? Given that both have invested extensively with Malone's companies before joining BRK, and are still invested through stocks. With BRK's big checkbook there could be some interesting collaborations. Like BRK could've funded the Liberty Broadband equity for the Charter deal.

Yes there is a source and jay21 is right

How do we get a MOI email address to login?

This is Ted's portfolio before closing Peninsula GRA - 49% DVA - 15% LCAPA - 8% VCI - 8% WSFS - 6% DTV - 5% CCOI - 5% CBB - 3%