Lessons from Edgar de Picciotto

Edgar de Picciotto, an early promoter of hedge fund investing, passed away on Sunday 13 March 2016 after a long sickness. On November 12, 1969, de Picciotto opened his own asset-management bank in a city dominated by such well-known private banking names as Pictet Group, Lombard Odier, Darier and Hentsch. Edgar de Picciotto founded Union […]

Value Investing: Philip Fisher on When to Sell a Stock

Philip Fisher (1907–2004) is widely considered the pioneer and thought process leader in long-term value investing. Years after his death, Fisher is widely respected and admired as one of the most influential investors of all time. Fisher developed his long-term investing philosophy decades ago and discussed them in his seminal book, Common Stocks and Uncommon […]

Charlie Munger’s Sit-on-Your-Ass Investing Concept

Charlie Munger presented the model of “Sit on your ass investing” at the 2000 Berkshire Hathaway Annual meeting. Description courtesy of Losch Management Company, an Orlando, Florida-based investment advisor. You have value investing, and growth investing, but now we also have “sit on your ass investing”, which is better. The problem with value investing is […]

The Four Filters of Warren Buffett and Charlie Munger

Countless portfolio managers, hedge fund managers, investment analysts, mutual funds, institutional pools of capital and individual investors have grown up devouring everything that’s been said or written by or about Warren Buffett and Charlie Munger over the years. In the 2007 letter to Berkshire Hathaway shareholders, Warren Buffett wrote, “Charlie and I look for companies […]

Books Recommended by Berkshire Hathaway’s Charlie Munger

“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time—none, zero. You’d be amazed at how much Warren reads—at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.” — Charlie Munger […]

Charlie Munger on Three Considerations that Average Investors can Use for Better Returns

In a lunch that investor Mohnish Pabrai of Pabrai Funds had with Charlie Munger, Berkshire Hathaway’s Vice-Chairman and partner of Warren Buffett, Charlie explained that an investment operation that focuses on three attributes would do exceedingly well. Carefully look at what the other great investors have done. Charlie endorses mirroring the investments of the most […]

Warren Buffett, the Mattress Salesman at Nebraska Furniture Mart

One of the traditions at the Berkshire Hathaway annual meetings is an hour-long light-hearted movie show. In fact, the “movie” is a collection of video clips some of which showcase commerials and skits from Berkshire Hathaway’s vast array of businesses, some featuring Buffett-comedy, surprise celebrity features, and so on, often to wild laughter among the […]

The Warren and Charlie Show at Berkshire Hathaway’s Annual Meetings

At the Berkshire Hathaway annual shareholders meetings in Omaha, Warren Buffet and Charlie Munger sit at the center of the stage in front of a dark sea of shareholders. Warren Buffet first fields questions from the audience and a panel of journalists and stock analysts. Warren answers them and will ramble on a bit in […]

Warren Buffett in 1951: “The Security I Like Best:” GEICO

In his 2013 annual letter to Berkshire Hathaway Shareholders, Warren Buffet extols his mentor Ben Graham’s discourse on value investing, “The Intelligent Investor.” Warren has previously described The Intelligent Investor as “by far the best book on investing ever written.” I learned most of the thoughts in this investment discussion from Ben’s book The Intelligent […]

Books Recommended by Morgan Stanley

Morgan Stanley recommends the following books to young employees, interns, and job candidates for their continued education of the financial industry. History Tidbit: The Founding of Morgan Stanley In 1933, the Glass-Steagall Act, and the broader U.S. Banking Act of 1933, mandated that commercial banking and investment banking operations could not function under a single […]