villainx

Same as above. Was out from approx 11am till not sure, but now appears up at ~10pm, all EST. I had a burning question, insight requiring question and was hoping to look through here for some ideas/inspiration. Alas, just went with my gut.

This might be the Chinese version. I can't read it unfortunately. http://liluchineseblog.tumblr.com Yes, that looks like them. Thanks! The introduction to the first post says: "Why is the disparity between China and the West so large? How can China catch up with the West? What will China look like after it catches up and can it reclaim its past glory? Using New History and adding economics, biology and other natural sciences, as well as traditional studies of Chinese history, we can today place the question of China’s modernisation into the context of mankind’s overall development over the past millennia. From this foundation, we can better understand and answer the three questions above and make more reliable forecasts about China’s future." The blog also has Li's foreword to the Chinese edition of Poor Charlie's Almanac. There's already a translation but the link doesn't work for me? http://blog.enochko.com/2010/06/my-teacher-charlie-munger-english.html It's available at archive.org https://web.archive.org/web/20140701184816/http://blog.enochko.com/2010/06/my-teacher-charlie-munger-english.html Thanks!

This is unrelated to any ongoing thread, but an interesting divertissement: http://www.reuters.com/article/us-sec-kraft-heinz-idUSKBN16M2UI. Security guard (or something else if he reviews emails for his boss) did some small inside trades.

Yeah, I would assume at the sub level that Berkshire managers are very 3G or DBS like. Just that the performance or approach aren't focused on nearly as much. I also might be too hung up on the cost cutting at the expense of innovation the press seems to be applying to 3G, plus 3G recent target industries aren't the easiest to innovate/grow.

Just an innocent question. From what I know of 3G, they are adept operators who know how to trim cost but have been less able to grow them. Partly this might be due to them buying companies that have lots of fat to trim and not a lot of room to grow. But when I think of other skilled managers or management philosophies (like Danaher), they cut cost and do things to innovate/grow, why aren't those types more attractive to Buffett? Or is PCP or BHE those type of companies?

I'm almost half way through, and really dig it so far. There's a wide range of things to get from the book. I think it's better than Liar's Poker - Chaos Monkeys speaks also to the drive to succeed and useful industry information, in addition to the name dropping, tell-all aspect.

I'm hoping to get some idea what you folks think Trump will do that will impact stocks.

From my understanding of copying the greats, unless you are investing in their vehicles, Berkshire, DJCO, etc., it's hard to gain the same benefits from following their picks. You might not have the same investing timeline, investing criteria, portfolio, and while the purchases gardner a lot of headlines, the stock sales usually get less (so difficult to time). With regards to the anxiety of that time period. It was crazy because big institutions were literally going or likely to go down (Lehman, Bear, AIG, Citi, etc). Most disciplined approach would have including adding during those periods, whether it's a boring regular contribution to index investments or focusing on some high quality companies. I'm not sure if it took a lot of courage, but 2008/9 was one of the Fisher hiccup buying opportunities, and the opportunity persisted for awhile after. So if not at the bottom - which is not when Munger or Buffett aims for or purchased at - there was plenty of time even after conditions improved to go in. DJCO positions were more secret because the value wasn't high enough to warrant disclosure (until the value increased to warrant disclosure). Some of Buffett's public moves were before (and after) the bottom. (That said, I don't want to take lightly those that sold out around the bottom, and suffered huge capital loss, or those who were dependent on income and had to bear the brunt of a drastic downturn, or those that just waited around.) Following their process (and discipline) may be of more value. Following the exact purchases of money managers is a tougher call.