Intelligent Investor ClubIntelligent Investor ClubBecome a more intelligent investor. Learn the value investing strategies of Warren Buffett as well as that of his mentor, Benjamin Graham. Articles
Personal Wealth Management Forum
2007-10-27 03:47:00 I’m now here in Singapore Expo for a local event called Personal Wealth Management Forum . It’s not exactly on value investing but more on the general topic of wealth management. The speakers include: Dr Dolf de Roos, best selling author of “Real Estate Riches” Dr Clemen Chiang, options trading expert James Skinner, best selling author of “The 9 steps of ... More About: Seminars
Buffett Interview With Mandarin Translation
2007-10-26 16:33:00 Following up on my previous post which contained Warren Buffett ’s warning on China, I have found an audio recording of the interview (conducted in English with mandarin translation) that Warren Buffett did in China. Here’s what was covered: 00:00 PetroChina sale timing a “mistake”; strategy 06:32 China growth; philanthropy; Charlie Munger 13:26 Investment criteria; Iscar Metalworking stake 17:06 “Need ... More About: Interview , Mandarin , Translation , Fett
Warren Buffett Warns of an Overheated China Market
2007-10-25 08:54:00 A week after Warren Buffett sold its entire stake in Petrochina, Warren Buffett warned investors to be cautious about the Chinese stock market, which has risen nearly six times in the last two years. During a visit to Dalian in north-east China , Mr Buffett said he has always been skeptical about markets that had risen as ... More About: Market
The Most Powerful Force in the World
2007-10-23 09:14:00 Just this weekend, 98 students from Harvard had the opportunity to listen to Warren Buffett in person. In his speech, Warren Buffett shared what he thought was the most powerful force in the world (it’s not money) and his tips for financial success. Here are some quotes from that session: Unconditional love is the most powerful force ... More About: World , Force , The World
Full and Fair Reporting
2007-10-18 18:58:00 Berkshire Annual Letter 2000 (Part 3) At Berkshire, full reporting means giving all the important facts about current operations as well as the CEO’s frank view of the long-term economic characteristics of the business. There is neither vague accounting methodolody, nor messages prepared by the public relations department. Fair reporting means getting the same information to all 300,000 ... More About: Accounting , Full
Age of Warren Buffett
2007-10-12 17:04:00 Another joke by Buffett Finally, there is the negative that recurs annually: Charlie Munger, Berkshire’s Vice Chariman and my partner, and I are a year older than when we last reported to you. Mitigating this adverse development is the indisputable fact that the age of our top managers is increasing at a considerably lower rate - ... More About: Warren Buffett , Warren , Fett
Inefficient Bush Theory
2007-10-10 16:57:00 Berkshire Annual Letter 2000 (Part 2) Warren Buffett prefers to buy entire businesses rather than just a portion of a listed stock. One reason is that their managers tend to be more rational and owner-oriented than at many public companies. The main reason, however, is because of the tax benefits. Without going into details, owning 100% of a ... More About: Bush , Theory , Theo , Efficient
Warren Buffett to Visit South Korea
2007-10-05 17:26:00 Warren Buffett will visit South Korea later this month, according to a short news article reported by leading Korean newspaper The Chosun Ilbo. It will be Warren Buffett’s first visit to the country. On the itinerary will be a tour of a Berkshire subsidiary in the city of Daegu, lunch with Korean business leaders and a ... More About: South Korea , Warren Buffett , Warren
Warren Buffet?s Pitch to Ernie Banks
2007-10-03 06:57:00 Another joke by Buffet t. The usual baseball game will be held at Rosenblatt Stadium at 7pm on Saturday night. This year the Omaha Golden Spikes will play the Iowa Cubs. Come early, because that’s when the real action takes palce. Those who attended last year saw your Chairman pitch to Ernie Banks . This encounter proved to be ... More About: Warren , Warren Buffet , Pitch
Giving Reasons for Market Movements
2007-09-26 06:55:00 Wise quotes from Warren Buffett: Berkshire will someday have opportunities to deploy major amounts of cash in equity - we are confident of that. But, as the song goes, “Who knows where or when?” Meanwhile, if anyone starts explaining to you what is going on in the truly-manic portions of this “enchanted” market, you might remember ... More About: Market , Reasons , Giving
Share Repurchases
2007-09-24 06:55:00 Berkshire Annual Letter 1999 (Part 4) There are a couple of conditions which must exist for a share repurchase scheme to be meaningful to shareholders. The company must available funds (cash plus sensible borrowing capacity) that more than meets the near term needs of the business. These needs consists of: expenditures a company must make to maintain its ... More About: Share , Hase
Warren Buffett Sells Part of PetroChina Shares
2007-09-17 14:20:00 Back in April 2003, Warren Buffett purchased about 10% of PetroChina for US$488 million at less than HK$1.70 a share. With the present share price above HK$11, this investment has turned out into a 6-bagger. Amid calls for U.S. investors to reduce holdings in China’s biggest oil producer because of its links to Sudan, Warren Buffett ... More About: Petrochina , Part
Acquisition Accounting
2007-09-09 18:12:00 Berkshire Annual Letter 1999 (Part 2) When an acquisition takes place, there are two generally accepted accounting principles (GAAP) methods of recording the transaction. In the “purchase” method, a goodwill account has to be established and subsequently written off against earnings. Payment can be made in either cash or stock. In the “pooling” method (which is usually preferred ... More About: Accounting , Acquisitions , Acquisition , Counting
Superman Earnings
2007-09-07 17:47:00 Analogy by Warren Buffett on boosting earnings via acquisitions. At other companies, executives may devote themselves to pursuing acquisition possibilities with investment bankers, utilizing an auction process that has become standardized. In this exercise, the bankers prepare a “book” that makes me think of Superman comics of my youth. In the Wall Street version, a formerly ... More About: Earnings , Earning
Restructuring and Merger Accounting
2007-08-31 08:06:00 Berkshire Annual Letter 1998 (Part 4) Michael Kinsley has said about Washington: “The scandal isn’t in what’s done that’s illegal but rather in what’s legal.” Many CEOs have no hesistation about manipulating earnings to meet the desires of Wall Street. Their first assumption is that their job is to encourage the highest stock price possible, something which Warren ... More About: Accounting , Acquisitions , Merger , Merge , Counting
Charlie Munger Autographing Feat
2007-08-29 07:59:00 More jokes from Warren Buffett: Borsheim’s normally is closed on Sunday but will be open for shareholders from 10am to 6am on May 2nd. On annual meeting last year, the store did an incredible amount of business. Sales were double those of the previous year, and the store’s volume on Sunday greatly exceeded volume for any ... More About: Charlie , Graph , Feat , Char
Stock Options as Compensation
2007-08-22 08:02:00 Berkshire Annual Letter 1998 (Part 3) Many companies ignore the cost of stock options when earnings are calculated, even though such employee’s compensation should be an expense. Imagine that GEICO spends $190 million for advertising and pays for it all using Berkshire options. Isn’t that an expense, and should be charged accordingly to the earnings? When Warren ... More About: Stock , Options , Accounting , Compensation
Bridge with Bob Hamman
2007-08-20 08:04:00 Warren Buffett joke on his Bridge skills: Bridge players can look forward to a thrill on Sunday, when Bob Hamman - the best the game has ever seen - will turn up to play with our shareholders in the mall outside of Borsheim. Bob plays without sorting his cards - hey, maybe that’s what’s wrong ...
Archives Link Added
2007-08-18 17:39:00 I have just added an archives link. On that page, you will be able to see a listing of all posts sorted by category. Hope you find it useful. Related PostsHillary Clinton Talks with Warren BuffettA few days ago, Warren Buffett was at Hillary Clinton's president...Time for a bit of humorWhenever you read annual reports, chances ... More About: Link , Archives , Chives , Hives , Hive
Warren Buffett Sees Potential for Opportunities: CNBC Exclusive Interview
2007-08-17 20:50:00 Here’s a recent interview that Becky Quick of CNBC did with Warren Buffett . In this interview, Warren Buffett talks about: Barack Obama, Senator Cliton and the presidential election. The wealth gap and the US tax system. His views on the market. The US subprime mortagage situation and commercial papers. Whether it matters to him who wins the White House. Consumer pinch. You ... More About: Exclusive , Interview
Waiting to Allocate Capital
2007-08-13 17:16:00 More humour by Warren Buffett Charlie and I have the easy jobs at Berkshire: We do very little except allocate capital. And, even then, we are not all that energetic. We have one excuse, though: In allocating capital, activity does not correlate with achievement. Indeed, in the fields of investments and acquisitions, frenetic behavior is often ... More About: Capital , Waiting , Wait , Loca , Allo
US Subprime Mortgage Crisis
2007-08-10 13:52:00 For the past few weeks, financial markets around the world have been rattled by the US subprime mortgage crisis triggered by the sharp fall in US housing prices. The collapse that Bear Sterns suffered might just be the tip of the iceberg. How and why has the effects spread so rapidly? It’s actually ... More About: Mortgage , Subprime , Crisis , Isis , Prime
Berkshire Contribution to the Treasury
2007-08-08 17:29:00 Joke by Warren Buffett Berk shire truly went all out for the Treasury last year. In connection with the General Re merger, we wrote a $30 million check to the government to pay an SEC fee tied to new shares created by the deal. We understand that this payment set an SEC record. Charlie and I are ... More About: Jokes , Contribution , Tribu
Being Managed by Berkshire Hathaway
2007-08-06 19:19:00 Berkshire Annual Letter 1998 (Part 1) Being owned by Berkshire can make the best of managers even more effective. All the ritualistic and non-productive activities like board meetings, press interviews, presentations by investment bankers or talks with financial analysts that go with the job of CEO are eliminated. Manage rs are given a simple mission. Run the business ... More About: Berkshire Hathaway , Berk , Berkshire
Power Spot For Buffett?s Urn
2007-08-03 20:04:00 Joke by Warren Buffett : Whatever the future holds. I make you one promise. I’ll keep 99% of my networth in Berkshire for as long as I am around. How long will that be? My model is the loyal democrat in Fort Wayne who asked to be buried in Chicago so that he could stay active in ... More About: Power , Spot , Fett
A Warren Buffett Special on U.S. News
2007-08-01 17:36:00 The August 6, 2007 print edition of U.S. News & World Report had a 10-page special on Warren Buffett . Here are some snippets: If you had invested $1000 with Warren Buffett at 1956, it would have grown to 27 million at the end of 2006. Six Warren Buffett rules of investing: Make money by not losing money. Don’t get ... More About: Special
Discounted Cash Flow Analysis
2007-07-30 15:56:00 One of my readers, Ken, asked me this question: Read your blog. Very good- I wonder if you do discounted cash flow analysis for the stocks you value (as opposed to the PE multiples approach). If you do, then, how do you evaluate a company with decrease in earnings growth in the first year of projection? Thanks for ... More About: Analysis , Cash , Flow , Discount , Disc
Mohnish Pabrai, Author of Dhandho Investor
2007-07-28 19:01:00 This year, Mohnish Pabrai, author of The Dhandho Investor : The Low - Risk Value Method to High Returns, won the eBay bid for a lunch with Warren Buffett. Mohnish Pabrai was recently interviewed by Justin Fuller, Stock Analyst of Morningstar. During this interview, Mohnish talks about: His Dhandho investment philosophy; How coming from an entrepreneur background helped his ... More About: Interview , Author , Nish
Jokes by Warren Buffett
2007-07-27 06:00:00 For those of you who have been reading the annual letters, you will realise that Warren Buffett likes to include humourous writings into his letter. Some of them are actually quite funny and starting from today, I will be sharing them with you on a consistent basis. Here’s one: There are really only three kinds of ... More About: Jokes , Fett
Benjamin Graham Centre for Value Investing
More articles from this author:2007-07-24 06:26:00 Just managed to stumble upon a collection of audios and videos by some prominent value investors. These are recorded from various conferences and lectures, capturing their invaluable thoughts, ideas and philosophies. The collection includes teachings by: Mr. Charles Brandes, CFA, Brandes Investment Partners LP Mr. Francis Chou, CFA, Chou Associates Management Inc. Mr. Peter Cundill, FCA, CFA, The ... More About: Investing , Centre , Graham , Value Investing , Benjamin 1, 2, 3 |
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