Saturday, July 4, 2009

Mr.Market Blog is off the blogger platform

If you've reached this site through a Google search please visit to read my new posts. This site will remain active as an archive for the old postings.

Sunday, June 14, 2009

Sunday Schloss #8

Another NYSSA dedication for him from October, 2006.

"Not every company worked out, but enough of them did, so we had a pretty good record."

"There was 15% per year for the partners, and we got 5%. When you start with $100,000 dollars and you make 20%, that isn't a great deal of money."

"The value investors I know are honest people. Value investing seems to be made up of a people who are willing to look at the facts and make judgments on them, and not willing to take advantage of others." -- I couldn't agree more.


Friday, June 12, 2009

Website Maintenance

This weekend I'm going to attempt to update Mr. Market Blog. Sunday Schloss and tomorrows post will still be made, but if the website should go down I will have it fixed as fast as possible. Thanks for all your patience!

Charlie Munger - October 2003

A classic Munger speech today.

"You would think it was the the Mad Hatter's Tea Party. And the false precision of these people is unbelievable. They make the worst economics professors look like gods."

"Well, that's the end. I'll take questions as long as people can endure me."

"People were taught that nobody could beat the market. Next the professor went to two sigmas, and three sigmas, and four sigmas, and when he finally got to six sigmas of luck, people were laughing so hard he stopped doing it."

Munger UCSB Speech

Sunday, June 7, 2009

Sunday Schloss #7

Today's Sunday Schloss comes from 1952 regarding liquidations.
(Hat tip to Graham and Doddsville for this one.)

Criteria for Liquidation - Schloss(2)

Saturday, June 6, 2009

Weekend Links

GM's "Wiped Out" Shares rise 21% Thursday via Todd Sullivan- "Proof insanity knows no limits"
Warning: Warren Buffett Isn't As Bullish As He Sounds via Warren Buffett Watch
The World Will Adjust via New York Magazine
Notes from HBSCNY Distressed Investing Roundtable via Distressed Debt Investing
Research and Analysis into the Demonstrated Efficiency of Benjamin Graham's Investment Methods via Farnam Street

Friday, June 5, 2009

Warren Buffett March 2008

In March of 2008 some MBA students from the Ivey School of Business were lucky enough to meet Warren in Omaha. Below is the transcript of the event.

Some classic Buffett (Excerpts):

"Only listen to what [Mr. Market] says in the context of: when this guy gets way out of line I am going to wack him."

"Capitalism does have a tidal wave of prosperity, but it gets interrupted when people do foolish things."

"[A Harvard MBA student] said he was thinking about getting a job in management consulting next, because that would be the perfect culmination of his resume. I asked him how old he was. He said 30. I said 30 and you already got all this stuff and you are still thinking about spending another couple years doing something you dont really want to do because it will make your resume be even better? I said that sounds a little to me like saving up sex for your old age."

Direct link to the article via Ivey School of Business: Warren Buffett March 31, 2008
Direct link to the Ivey School of Business Website: Ivey School of Business- Ben Graham Center for Value Investing

Or on Scrbid:
Buffett March 31 2008