Fixating on Buffett is hurting your returns

It’s that time of the year when the world’s most awaited corporate communication comes out. My guess is if we take all publicly listed companies around the world (except one), and add up the number of times their management letters get read, that number would be dwarfed by that for Berkshire Hathaway and Warren Buffett’s annual letter to shareholders. At $300,000+ per Berkshire Class A share, it’s safe to assume only a fraction of those readers are potential buyers. All around the world, people from fund houses, financial media, popular investment blogs, investment advisories pore through the simply formatted, 20-page

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Bill Nygren: Value Investing Principles and Approach

Bill Nygren is a fund manager at Oakmark Funds. He is also Chief Investment Officer for U.S. Equities at Harris Associates. He’s particularly well-known for being a value investor who doesn’t fear the technology sector. This post summarises key takeaways from his talk at Google in December 2017. While he reinforces many core value investing principles, he also challenges us to think differently. The difference between gambling and investing A value investor recognizes there are different ways she can put capital at risk and the difference between gambling (negative expected value) and investing in stocks (positive expected value) Buying stocks

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