"If you can protect downside, you don't need to figure out upside. In fact, those will give you the best upside because markets ha...

The Internet and the Third Estate - by Ben Thompson ( LINK ) 25th Anniversary of Financial Shenanigans with Howard Schilit - Author Series...

From the 1996 Berkshire Hathaway Annual Meeting : If you’re repurchasing shares above a rationally calculated intrinsic value, you are ha...

"In baseball terms, you want to buy [a stock] in the second or third inning and get out in the seventh or eighth. Walmart was in only ...

"The vast majority of today’s negative-yield bonds are in Europe and Japan.  One of the biggest questions surrounds whether negative r...

Link to Memo:  Mysterious Negative interest rates are nothing short of a mystery; they’re likely to throw off whatever we knew about the f...

On Howard Marks’ Memos ( LINK ) Portrait of an Inessential Government Worker - by Michael Lewis ( LINK ) Related book:  The Fifth Risk ...

"Wealth is not his that has it, but his that enjoys it." --Benjamin Franklin Jeff Bezos’s Master Plan ( LINK ) Fall 2019 iss...

"The businesses at the top of my portfolio are not necessarily going to be the ones that perform the best over the long term but are t...

Link to:  Investment Masters: Learning From Chris Bloomstran : Whilst I’m a long-time avid follower of all of the Investment Masters , an...