I finally finished going through Prem Watsa's Fairfax Financial shareholder letters this week and wanted to write a small summary on his rise to investing fame. He is the current Chairman and CEO of Fairfax Financial and controls 42% of share votes via his ownership. He is often referred to as the 'Canadian Warren Buffett' due to his long track record of compounding shareholders' capital in the insurance industry. Later this week, I will publish my scratch notes in a separate
MICHAEL BURRY INVESTMENT LETTERS (SCION CAPITAL) This week, I read through the compendium (link above) of Michael Burry's quarterly letters, testimonies, interviews, and articles so wonderfully compiled by the gentlemen at Austin Value Capital (www.austinvaluecapital.com). I had previously heard of Burry's wonderful record and interesting approach to value investing, but after reading the document, I had a newfound respect for his uncanny ability to perform DEEP research. So,
This week I decided to finish Charlie Munger's letters to his shareholders at Wesco Financial from 1983-2009 and take notes with this question in mind: What makes Charlie Munger such a brilliant businessman? Let's start with a little history. Before his days as Wesco's Chairman and Berkshire's Vice Chairman, Charlie developed commercial real estate in California successfully in joint partnerships and was also a successful corporate attorney at Munger, Tolles, & Olsen. He also
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