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CBS: Graham & Doddsville Winter 2016


dcollon

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:o :o :o

 

Craig Effron: Let me correct a misperception. Most funds don't author many of their own ideas, and we’re one of them. We have an idea or two that we generate ourselves, especially in credit, but most are in The Wall Street Journal, or they come up in discussions at dinner with friends of mine. The idea that we’re sitting in a room, and then are suddenly all like “I got it! Let's buy XYZ.” That's not how it works. Bill Ackman is a different guy. Bill does do that and he's unique. John Griffin does that as well, especially in Japan. Generally, though, we all talk to each other and share ideas. Ideas are not generated out of thin air. They come to me from Barron’s, The Wall Street Journal, Financial Times, idea dinners, brokers, etc. That's how they come.

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:o :o :o

 

Craig Effron: Let me correct a misperception. Most funds don't author many of their own ideas, and we’re one of them. We have an idea or two that we generate ourselves, especially in credit, but most are in The Wall Street Journal, or they come up in discussions at dinner with friends of mine. The idea that we’re sitting in a room, and then are suddenly all like “I got it! Let's buy XYZ.” That's not how it works. Bill Ackman is a different guy. Bill does do that and he's unique. John Griffin does that as well, especially in Japan. Generally, though, we all talk to each other and share ideas. Ideas are not generated out of thin air. They come to me from Barron’s, The Wall Street Journal, Financial Times, idea dinners, brokers, etc. That's how they come.

 

They all just read CoBF and buy the CoBF-motel stocks.

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