1) A to Z (research all aspects of a company)
2) Back to front (dig into the minutiae)
3) Cash counts (it’s the only thing you can spend)
4) Don’t guess (know!)
5) Expanding universe (extend our competence)
6) Focus sharpens returns (only own your best ideas)
7) Get more than you give (our objective)
8) Happy is sad (you make your money in difficult times)
9) Ignore the crowd (don’t be a lemming)
10) Jam tomorrow today (the magic of compounding)
11) Keep it simple (focus on what’s important)
12) Lumpy over smooth (a lumpy 15% return beats a smooth 10)
13) Management (can’t do a good deal with a bad guy)
14) New new things (ideas taken to extremes cause pain)
15) Owners know best (“skin in the game”)
16) Price matters (buy with a margin of safety)
17) Quirky can work (consider the unusual)
18) Rip it up (try to kill ideas)
19) Surfing waves (get in front of the trends)
20) Talking and walking (we really do eat our own cooking)
21) Under our hat (it’s not in your interest for us to tell all)
22) Value is all that (…matters)
23) What they want? (understand who wants what)
24) X-ing the lines (research across disciplines)
25) You’re the one (we do what’s right for you)
26) Zero can’t grow (Don’t lose)
Knowledge grows through sharing! To be the best, learn from the best! May all your dreams come true! Collections of Value Investing articles, interviews and videos, especially on Warren Buffett and Charlie Munger and articles from various disciplines to build "Latticework of Mental Models"
Showing posts with label Larry Pitkowsky. Show all posts
Showing posts with label Larry Pitkowsky. Show all posts
Friday, August 07, 2009
Thursday, January 10, 2008
Digging Deeper into the Fairholme Fund
I hope that you enjoyed part one of my chat with Larry Pitkowsky of the Fairholme Fund. In part two of our discussion, we dig deeper into the Fairholme Fund's search strategy and portfolio construction, which has several similarities to my approach in managing the Morningstar Ultimate Stock-Picker's Portfolio. We also touch on two asset-rich companies that have recently migrated onto my watch list. To listen in to part two of my talk with Larry, please click on the link below:
Thursday, January 03, 2008
Larry Pitkowsky Interview by Justin Fuller: Fairholme Funds
I hope that 2008 finds you well. In late 2007, I interviewed Larry Pitkowsky of the Fairholme Fund (FAIRX), which is one of the funds I closely follow in managing the Morningstar Ultimate Stock-Picker's Portfolio. In part one of my chat with Larry, we discuss Fairholme's focus on "betting on the jockey" as well as the role that cash plays in their portfolio construction. We also touched base on a few of our mutual stock picks. To see part one of my chat with Larry, please click on the link below.
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