you lie !!! j/k lol
Hi AliMan I didn’t realise you are a value investor. I met Bruce Greenwald when he came to London a few years ago. Have you been on his course at Columbia BS?
cisnirtni Wrote: ------------------------------------------------------- > Hi AliMan > > I didn’t realise you are a value investor. I met > Bruce Greenwald when he came to London a few years > ago. Have you been on his course at Columbia BS? Didn’t realize TheAliMan was a value investor? Blasphemy
I haven’t, but I’d like to 
Have you?
^ hahaha, I’m probably drunk.
Lol… guilty as charged of blasphemy! Didn’t realise you were a diehard value investor. Are you a Ben Graham net-net fan or Buffett/Munger franchise investor? I haven’t been on Greenwald’s course, yet. I’m currently preparing for CFA level III next June but considering Greenwald’s course for afterwards. It would mean uprooting myself and spouse from England to New York, which would be tricky though. Do you read the Graham & Doddsville newsletter. It is published by Greenwald’s students at Columbia and is great for keeping up-to-date with Greenwald’s insights.
Hi, looks like we’re both preparing for L3. Good luck. I do actually read the G&D letter as they come out. Have you read the latest edition? I work in oil and gas, and in one G&D issue, there has been mention of the current company I work by Pabrai in an interview - I found that quite enlightening 
In terms of investments, I’m open to the many aspects of value investing. While net-nets are great (especially in January discounts we have), I find a lot of net-net companies remain stagnant for a long term since there are no catalysts to work in one’s favor. Things have evolved from the days of Graham–for instance increased institutional ownership—and therefore strategies evolve. Spreading the risk among different value strategies by having a couple net-net investments, spin-offs, and good franchise value companies probably helps. An I can think of is Premier Exhibitions (a net-net) that was in Mark Sellers fund when it existed. Unfortunately, It didn’t pan out as how he would’ve thought. Though, I think he has been trying to replace board members - even as his fund is winding down. This is something that the small-time investor just can’t do.
^ what he said
Aliman & ValueAddict, Its nice to meet fellow value investors also doing the CFA. Very few people get it when it comes to value investing and I take an instant liking to those who do. Are either of you based in the UK by any chance? I’d like to get together. I concur with Aliman on the different value strategies. The stock market has changed from Ben Graham’s days and current practitioners have to evolve. The latest issue of G&D leads with an interview with Howard Marks. I usually enjoy his Chairman’s memos along with Jeremy Grantham’s and Warren Buffett’s letters. I can forward the G&D issue on to both of you if you want. Do you also visit the following website: www.cornerofberkshireandfairfax.com It was set-up by a guy in Canada and is a great forum for sharing info on value investing and meeting like-minded folks.
Hi cisnirtni, I actually live in Canada and ValueAddict lives in the States. I’ve got the latest G&D, but thank you anyway Just in case you are unaware, you can get the back issues here: http://www.grahamanddoddsville.net/?page_id=689 I do visit that site from time to time - I believe that’s where all the Berkshire shareholders went after that MSN closed down Groups on their website. It’s nice to see a big-time practitioner, Prem Watsa, follow the same strategies as Buffett.
Hi Aliman Thanks for the link. As well as Prem Watsa, there are a few other Canadian value investors like Francis Chou and Kim Shannon that I admire. Prof. Athanassakos at Richard Ivey also does a good job, in my view. I take it that once you’re armed with your CFA, it’ll be sayonara to oil and gas.
cisnirtni Wrote: ------------------------------------------------------- > Aliman & ValueAddict, > > Its nice to meet fellow value investors also doing > the CFA. Very few people get it when it comes to > value investing and I take an instant liking to > those who do. I’d like to say that I am doing the CFA Program - but that would be a lie. Past tense is more appropriate. But you’ll grind through it like everyone else manages to do. Thanks for all the great links. Sorta hectic with me right now - lots of useless MBA class assignments due. I’ll circle back when I have something more constructive to add. Best
cisnirtni Wrote: ------------------------------------------------------- > Hi Aliman > > Thanks for the link. > > As well as Prem Watsa, there are a few other > Canadian value investors like Francis Chou and Kim > Shannon that I admire. Prof. Athanassakos at > Richard Ivey also does a good job, in my view. > > I take it that once you’re armed with your CFA, > it’ll be sayonara to oil and gas. I take it you’ve checked out Ivey’s Ben Graham website? Lots of good interviews with those people you’ve mentioned there.
Yeah I’ve seen all the interviews on Ivey’s Ben Graham website. I particularly enjoyed Seth Klarman’s videoconference in March. The guy talked a lot of sense.
Agreed ValueAddict is a big fan