Continuation of our series on portfolio management and the Buffett Partnership Letters, please see our previous articles for more details. AUM, Trackrecord, Sizing “…I believe that we have done somewhat better during the past few years with the capital we have had in the Partnership than we would have done if we had been working with a […]
Continuation of our series on portfolio management and the Buffett Partnership Letters, please see our previous articles for more details. Trackrecord, Compounding, Duration, Special Situations, Time Management “A disadvantage of this business is that it does not possess momentum to any significant degree. If General Motors accounts for 54% of domestic new car registrations in 1965, it […]
Here is the first installment of a series on portfolio management and Seth Klarman, with ideas extracted from old Baupost Group letters. Our Readers know that we generally provide excerpts along with commentary for each topic. However, at the request of Baupost, we will not be providing any excerpts for this series. When To […]
This post is a continuation in a series on portfolio management and the Buffett Partnership Letters. Please refer to the initial post in this series for more details. Cash, Special Situations “…if the market should go considerably higher our policy will be to reduce our general issues as profits present themselves and increase the work-out portfolio.” […]
I have often told people that the Buffett Partnership Letters is my favorite investment book. As a young investor (26 years old when he started in 1956), Buffett was nimble, opportunistic, and far more candid in his discussion of ideas and portfolio management techniques. The Partnership Letters and the early Berkshire letters are a treasure […]
Michael F. Price is going to kick off our inagural post. Well, sort of. I’d like to share the summary (mainly the categorized juicy portfolio management bits) of an interview with MFP in Peter J. Tanous’ book Investment Gurus. Sourcing, Creativity: Price discusses how competitive the traditional bankruptcy and restructuring game has become (this was 1997 […]