In complex or confusing situations, our brains tend to overweight information that is easily available even if there are more important factors that we are less cognizant of ...
Berkshire Hathaway acquired $928 million of its own stock during the third quarter of 2018 through a series of purchases of Class A and Class B shares from August 7 to 24. A repurchase of this size, relative to the ...
"It can't possibly be this easy!" A first time attendee of a Berkshire Hathaway annual meeting might find it hard to believe that there could be any skeptics in the crowd. In contrast to the boring, useless, and perfunctory meetings ...
"There is always something to do. You just need to look harder, be creative and a little flexible." -- Irving Kahn One of the interesting aspects of the stock market involves the peculiar attitude many investors have when it comes ...
In this series, we suggest worthwhile reading material on a variety of topics of general interest. Daily Journal Corporation Annual Meeting - February 15, 2017. Charlie Munger spoke for nearly two hours at the Daily Journal annual meeting in Los ...
Daily Journal Corporation is a publisher of several small specialty newspapers and information services primarily serving the legal and real estate communities in California and Arizona. With the company's traditional business experiencing a steady secular decline in recent years, management ...
Charlie Munger distilled his study of the psychology of human misjudgment into twenty-five common thinking errors that we all should vigilantly guard against ...
Is it possible to reliably identify great managers and their companies at an early stage and enjoy compound annual returns of twenty or even thirty percent over many decades? We recently explored this subject in some detail using Berkshire Hathaway ...
"I would say that more dumb acquisitions are made in the name of strategic plans than any other. I would be very wary if a board went through some elaborate process where a strategic plan was reviewed in great detail ...
"The elementary part of psychology—the psychology of misjudgment, as I call it—is a terribly important thing to learn. There are about 20 little principles. And they interact, so it gets slightly complicated. But the guts of it is unbelievably important." ...
Charlie Munger: The Complete Investor, is likely to be of interest to thousands of Berkshire shareholders as well as others who make it a habit to study the ideas of those who have achieved remarkable success. Read this book review ...
The release of Warren Buffett's annual letter to shareholders is one of the most important events of the year for value investors. This year, the significance of the letter is accentuated by the fact that fifty years have passed since ...
David Larcker and Brian Tayan of the Stanford Graduate School of Business recently published a paper entitled Corporate Governance According to Charles T. Munger which concisely outlines the governance philosophy that Mr. Munger has presented on a number of occasions ...
Daily Journal Corporation has been building a securities portfolio over the past several years but the specific securities have been undisclosed until now. A recent 13-F filing with the SEC reveals the holdings which were selected by Daily Journal Chairman ...
In this article, we will take a look at whether an examination of Investors Title's real estate holdings that goes beyond the company's SEC filings may reveal hidden real estate value not reflected in the company's stated shareholders' equity. Read ...
Berkshire has wrapped up a major victory with repayment of the Swiss Re convertible perpetual capital instrument which provided critical funding for Swiss Re in early 2009 at a time when the company was reeling from heavy investment portfolio losses ...
Berkshire Hathaway and Wesco Financial Corporation have announced a definitive merger agreement in which Berkshire will acquire the remaining 19.9 percent of Wesco's common stock that it does not currently own. Berkshire announced its intention to pursue the acquisition in ...
Planar Energy, a Florida based company is planning to complete a pilot production line that will print lithium-ion batteries onto sheets of metal or plastic in a process similar to a producing newsprint. Read this article for more details ...
As we suspected last week, reports that Berkshire Hathaway is planning to sell its 10 percent stake in BYD have proven unfounded. Warren Buffett, Charlie Munger, and David Sokol are in China this week and reaffirmed Berkshire's support for BYD ...
Several media reports have appeared today suggesting that Warren Buffett's visit to China next week may be due to concerns regarding Berkshire Hathaway's investment in BYD. Most of the reports cite a Reuters article which seems quite unconvincing. While BYD ...