Value Investing World

Sunday, August 28, 2011

John Mauldin: The End of the World, Part 1

It’s not really the end of the world, but to read some of the analysis and data over the past week, it’s hard not to wonder if it’s not the beginning of the Endgame at the very least. There is more to cover than I can really do justice to, but we will just start. We HAVE to look at the US data first (briefly) and then on to Europe, where it will may be the end of the euro experiment, depending on two voting populations. Can you spell “Banking Crisis,” gentle reader? A nod to Bernanke’s finger-pointing speech, some links on the scourge of high-frequency trading, and we end on a positive note about the Boomer generation growing older. And, I answer the question that is burning in your brain: “How many years of US corn production will China’s dollar reserves buy?” Write your answer down now. This letter may print out longer than usual, as there are plenty of charts. Let’s skip the “but firsts” and jump right in.
Posted by Joe at 8/28/2011
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Value Investing World is a blog dedicated to promoting the multidisciplinary approach to investing and development of – as Charlie Munger describes it – a latticework of mental models. Although largely focused on linking to investing and economic material it deems of interest, it will also post and link to material from other disciplines that it thinks worth reading or watching.

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  • Charlie Munger - 2007 USC Law School Commencement Notes
  • Poor Charlie's Almanack
  • An Investing Principles Checklist from Poor Charlie's Almanack
  • Oaktree - Howard Marks Memos
  • EDGAR Company Filing Search
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  • Interview with Peter Bevelin, author of Seeking Wisdom - from Darwin to Munger
  • Second Interview with Peter Bevelin
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  • Dr. Peter Drucker: FEEDBACK: KEY TO CONTINUOUS LEARNING
  • Quotes on ‘the biggest mistake investors make’.
  • Tom Russo quote
  • Bill Gates quote from Charlie Rose interview (or, how the world's best companies are built by fanatics)
  • Charlie Munger - USC Law School Commencement - May 13, 2007
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  • Following the Path to Mastery with Robert Greene
  • THE CHECKLIST - by Atul Gawande
  • Carl Sagan - Pale Blue Dot
  • The Most Astounding Fact About the Universe

Charlie Munger

  • Poor Charlie's Almanack
  • The Best of Charlie Munger: 1994-2011
  • VIDEO: Charlie Munger - USC Law School Commencement - May 13, 2007
  • NOTES: Charlie Munger - USC Law School Commencement - May 13, 2007
  • Charlie Munger's "The Psychology of Human Misjudgment"

Warren Buffett

  • Warren Buffett's Letters to Berkshire Shareholders
  • Buffett inflation file
  • BUFFETT FAQ

Ben Franklin

  • Ben Franklin's 13 Virtues
  • Ben Franklin - 3 Essays - The Ephemera; The Whistle; Franklin and the Gout

Benjamin Graham

  • The Papers of Benjamin Graham (PDF)
  • The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend (PDF)
  • Ben Graham interview (1955)
  • Securities in an Insecure World (1963 Speech)

Peter Bevelin

  • 2007 and 2009 interviews with Peter Bevelin
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  • PDF of Peter Bevelin interviews (2007 and 2009 with Value Investing World; 2016 with Farnam Street)

Howard Marks

  • Howard Marks memos
  • Compilation: Howard Marks Memos from 1990 - July 2011
  • Book: The Most Important Thing
  • Book: Mastering the Market Cycle

Seth Klarman

  • Seth Klarman Letters: 1995 - mid 2001
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Michael Mauboussin

  • Measuring the Moat
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  • The Base Rate Book
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  • Who Is On the Other Side?
  • What Does a Price-Earnings Multiple Mean?
  • What Does an EV/EBITDA Multiple Mean?
  • Capital Allocation
  • Capital Allocation Outside the U.S.
  • Operating Leverage

Diversification

  • Warren Buffett on Diversification - 1966
  • Warren Buffett on Diversification (1998)
  • Phil Fisher on diversification
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  • Seth Klarman on position sizing (bottom paragraph)
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  • Generalizing the Kelly Criterion
  • A quick diversification thought...
  • A few comments on the Berkshire Hathaway letter to shareholders

Checklists

  • Charlie and Checklists
  • An Investing Principles Checklist from Poor Charlie
  • Key Checklist Items

Expert Performance / Self-Improvement

  • Bill Gates quote from Charlie Rose interview (or, how the world's best companies are built by fanatics)
  • Dr. Peter Drucker: FEEDBACK: KEY TO CONTINUOUS LEARNING
  • What it takes to be great

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