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Interview with Joseph Calandro, Jr.


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I thought you guys might be interested in this. Joe is supposedly close with Seth Klarman, even more than the article indicates. I am going to hear him speak at NYSSA on Dec 8th (if anyone wants to meet up let me know), he is going to be talking about GEICO's purchase by Berkshire. Joe also wrote Applied Value Investing, I have not read it, but heard great things about it. I will be posting more on Joe but in the meantime, here is our interview-http://www.valuewalk.com/2011/11/interview-famous-author-joseph-calandro-jr/#.TtWpOWMr2so

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How recommended is his book (Applied Value Investing)? Can anyone comment on the content and how valuable his insights are? Thanks.


I have no idea how recommended his book is by other people, but I think it is better than 90% of the stuff out there on value investing.  I would put it on par with Value Investing by Bruce Greenwald, but below Intelligent Investor and Margin of Safety.  Specifically, he does mini-case studies of Sears, GEICO, and Gen RE.  In certain instances, he will walk through the balance sheet/income statement line-by-line showing what items he would adjust and why.  He also shows how to apply basic margin of safety concepts to pricing catastrophe insurance without using a lot of math. 


Overall, I would definitely recommend reading it.

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