The Rational Walk provides in-depth research based on value investing principles.  The following research reports are available for purchase or free download.


Berkshire Hathaway:  In Search of the “Buffett Premium”
Publication Date:  March 1, 2011
This report takes a close look at management succession issues at Berkshire Hathaway in the context of a careful examination of the drivers of intrinsic value.  Incorporating the data contained in Berkshire’s 2010 annual report and related SEC filings, The Rational Walk’s 118 page report provides extensive coverage of all key facets of Berkshire Hathaway and an estimate of intrinsic value based on three valuation methodologies. This report is currently offered to readers free of charge.

Platinum Underwriters:  Mining for Value in Reinsurance
Publication Date:  October 21, 2011
Platinum Underwriters was a Bermuda-based company organized in 2002 as a spin-off of The St. Paul Companies reinsurance operations.  At the time this report was published in October 2011, we believed that Platinum’s valuation at approximately two-thirds of tangible book value presented investors with an interesting opportunity.  Platinum was acquired by Renaissance Re in March 2015.  This report is currently offered to readers free of charge.

Berkshire Hathaway:  Background, Analysis, and Valuation
Publication Date:  February 28, 2010
The Rational Walk is pleased to make our report on Berkshire Hathaway published in February 2010 available to readers free of charge.  The analysis was published shortly after the release of Berkshire Hathaway’s 2009 annual report.


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