Other Peoples Money More about the evils of cheap capital and why tight money is good for investors. "There is no better way to make managers understand how valuable capital is, than to charge them for it," ...Warren Buffett
Lunch Money Indicators - Annual Reports Actions speak loader than words (or sometimes numbers). What are the deeds that speak about the integrity of a company's management?
The 450,000 Square Foot Furniture Store More about the Nebraska Furniture Market and what it tells about the management philosophy at Berkshire Hathaway. What does the "Principle of Intermediate Fragmentation" have to do with selling home furnishings?
Hotels with Propellers How many alligators does it take to make a good cruise line?
Berkshire Meeting The last week in April is the time to be in Omaha. Highlights of the Berkshire Hathaway annual meeting.
Client Letter June 2001
Sit on Your Ass Investing? Is this the time
for buy and hold forever? Or should we be studying What worked in the sixties
and seventies. In a roller-coaster market maybe you want to think about getting
off, and getting on.
Client Letter July 2001
Bubble Watching Will the FED be able to avoid
Bubble Number two? As far as the recovery is concerned fast is bad slow is good.
Costco's Moat Low margins and fast turn over can help to create a respectable moat for a retail power house.
The Dinosaur Dance This article talks more about moats. Deswell Industries is a company incorporated in the British Virgin Islands with operating subsidiaries headquartered in Hong Kong and all its production facilities located in mainland China.
Client Letter October 2001
Ben Laden and Berkshire Hathaway What happens
to the intrinsic value of an insurance company when it has to pay 2.2 billion in
claims?
Client Letter November 2001
Buy and Hold? - It all Depends Bull
markets are great for investors that like to buy and hold but bull markets do
not last forever.
Client Letter December 2001
Don't Fight the FED It has been eleven
months now, since the Federal Reserve Board started to pull back on the stick,
but the economy still has not been able to get off the ground. Every recession
since the end of World War II has ended as soon as the Fed stated to ease. Is it
going to be different this time?
