Value Investing News

Where to find the values in stocks, bonds and art with top-performing value investor, the Fairholme Fund’s Bruce Berkowitz, high-yield bond guru Martin Fridson and art consultant and professor Michael Moses, of the Mei Moses Fine Art Index.

The subject is managing investment risk. What is it? How much can you really take? What can you do about it? We'll ask renowned financial consultant Charles Ellis; legendary global money manager Jean-Marie Eveillard and Goldman Sachs' former risk honcho, now quantitative strategy head, Robert Litterman.

A short seller raises new questions about Lehman's balance sheet. David Einhorn has a thing or two to say about Erin Callan's purported transparency.

If you're able to look beyond near-term trouble, you have an advantage over many professional investors.

May 21, 2008: Ira W. Sohn Investment Research Conference Speech, "Accounting Ingenuity"

David Einhorn, president of Greenlight Capital, discusses his long-running battle with Allied Capital and his new book, 'Fooling Some of the People All of the Time.'

Speaking Wednesday at the Ira Sohn investment conference in New York, Icahn, one of America's leading activist investors, said that "Microsoft and Yahoo need to get together to fight Google. Microsoft is crazy to pass this up."

Hundreds of investors packed into the Time Warner Center in New York for the annual Ira W. Sohn Investment Research Conference on Wednesday to hear top money managers discuss their favorite stock picks. Here is a list of the investors and some of their choices:

“This is classic value,” Mr. Pzena said. “When we come out of this, I think the upside is going to be huge.”
But Mr. Pzena did not win over Michael Price, the former chairman of Franklin Mutual Advisers.

Francis Chou's funds have suffered a severe beating lately, but he isn't calling in the coroners. Now is the time for bargains, says the star value manager, and he insists he knows exactly where they are.

We know there are many Berkshire fans who also follow Markel, so we thought some members might benefit from some of the things Markel's management, particularly CIO Thomas Gayner, had to say at the company's annual meeting last week.

The most surprising thing about Warren Buffett is that he can still surprise. After all, more ink has likely been spilled dissecting Buffett's strategies than those of any other investor. Buffett became the world's richest person while displaying both integrity and wit.

Leverage, Liquidity, and the Persistence of Inefficiency

First Eagle Funds Conference Call
May 6, 2008

In this series of blog posts, I will walk through all 25 of the biases Mr. Munger identifies, and then adapt them for the modern entrepreneur. In each case I will start with relevant excerpts of Mr. Munger's speech, and then after that add my own thoughts.