weekly wrap 27/10/17

“As a money manager, I have frequently looked at an investment decision that I felt had a high probability of success on a three-year horizon, but about which I had many doubts on a six-month time horizon. Institutional investing, as it is structured today, simply makes it more difficult to make a high-conviction, long-term decision than to make a low-conviction, short-term decision”

– Robert Kirby


This week I read a few interesting long pitches for AMC Networks. They all made very convincing arguments and it does seem very reasonably priced for what has historically been a high quality asset. However, I also noticed the following info-graphic appear this week depicting the reduction in viewership for their marque series, The Walking Dead:

walking dead.png

My level of knowledge on the company is minimal as I don’t invest in the US, however, I would be interested to know the contribution this series made to last years earnings…


weekly links

The Acquirer’s Multiple on Mohnish Pabrai

Travis Wiedower on the Kelly Criterion

Brent Beshore with a great “handbook” on Amazon

Kuppy discussing the investment landscape in Greece part 1 part 2

GreenWood Investors update

Long Case Advisers update

Danny Kahneman interview

An interesting article about short-seller Mark Cohodes who’s taking on Buffett

25iq with A Dozen Lessons from Megan Quinn about a Growth Mindset

Richard Beddard discussing Solid State (SOLI.L)

Geoff Gannon on building an idiosyncratic basket of undervalued stocks

Interesting screener for deep value stocks

Warren Buffett: mistakes of the first 25 years

Q3 hedge fund letters

Wylde Street discussing the early Buffett

KLARMAN: Investors are asking the wrong question about the stock market

Horizon Kinetics Q3 update (very good)

Triarii Capital discusses Korean CDS investment

Charlie Munger on not being idiotic

Alluvial Capital update

Kenkyo Investing discusses the IKEA of Japan

Buffett discussing how the potential tax changes are impacting his behaviour (and likely others)


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