Downloads
Downloads Home » Other reports
- Interview Watsa Oct 09hot!
- 06.11.2009
-
1) Interview to Prem Watsa (CEO and founder of Fairfax). We are actually investing in emerging markets (India)!
2) Quote from Howard Marks (founder of Oaktree Capital, highly successful value investor, in particular in distressed debt) that I think fits very well our style or at least our aim: "I feel strongly that attempting to achieve a superior long-term track record by stringing together a run of top-decile years is unlikely to succeed. Rather, striving to do a little better than average every year, and through discipline to have superior relative results in bad times, is: 1) less likely to produce extreme volatility 2) less likely to produce huge losses which can't be recouped 3) most importantly, more likely to work" (from ValueInvestor Insight November 2009, page 22) - Hits: 457
- Touchstones Memo from Howard Marks (Nov 09)hot!
- 01.12.2009
- Hits: 448
- Value Investor Insighthot!
- 09.12.2009
- Yacktman (Nov 2009)
- Hits: 860
- Worst Decade Everhot!
- 04.01.2010
-
Commentary to the statistics:
The colours in the squares show the performance of each year since 1834 in the US. The dark red squares are the years with catastrophic crashes, “black swans”, with losses from 40% to 60%. At the bottom on the right are returns for the S & P 500, nominally and inflation adjusted, since 1910, the start of this index. On the upper right are the decade’s cumulative returns since 1834, without adjustment for inflation.
- Hits: 542