Henderson on Investing





my motto--
        Learn and compound
Warren Buffett in San Francisco

Warren Buffett, as he always has, looks askance at Wall Street shenanigans, otherwise know as derivitives. 

"You can't turn a financial toad into a prince by securitizing it," he said  at a fundraiser in San Francisco for Senator Clinton, Tuesday, December 12.   Mr. Buffett said that even after scrutinizing funds that package up mortgages, he found them hard to properly evaluate.  (But to quote him from an earlier meeting, you don't have to know a person's exact weight to tell that person over 300 person is over-weight)


"Wall Street started believing its own PR on this - they started holding this stuff themselves, maybe because they couldn't sell it. It worked wonderfully until it didn't work at all."


For a full story see:  http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/12/MNO7TSBCH.DTL
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Posted by Nicholas Henderson at 12/12/2007 3:00 PM | View Comments (0) | Add Comment | Trackbacks (0)
Raw notes from the Wesco meeting, Part 1
Warren Buffett out achieved his aptitude. He is a learning machine. This is really important. He is like those turtles that can outrun the hare. He just keeps learning, learning, learning. He is of course lucky to be in a field in which you can keep getting better. His skills have increased since he was 65.
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Posted by Nicholas Henderson at 5/14/2007 10:23 AM | View Comments (0) | Add Comment | Trackbacks (0)
Article on the Wesco Annual Meeting, May 2007
“Wisdom is what you want” you can only get it by “sitting on your ass and reading…and avoiding nuttiness.” Charlie Munger, Wesco Annual meeting.
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Posted by Nicholas Henderson at 5/14/2007 10:03 AM | View Comments (0) | Add Comment | Trackbacks (0)
Buffett seeks new Buffett
In the Berkshire Hathaway annual report, Warren Buffett put out an ad for his replacement. http://www.berkshirehathaway.com/letters/2006ltr.pdf

Of course, Buffett acknowlegdes that anyone appointed to the job would be " able
to list Berkshire on a resume ([which] would materially enhance the marketability of an investment manager. We
will need, therefore, to be sure we can retain our choice, even though he or she could leave and make much
more money elsewhere."
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Posted by Nicholas Henderson at 3/4/2007 10:31 PM | View Comments (0) | Add Comment | Trackbacks (0)
Berkshire Hathaway takes stake in UnitedHealth
Berkshire Hathaway buy  one million shares of United Health.   (Unfortunately the headlines always say "Buffett buys..." when it could be Lou Simpson.  Thanks to souptonutz for the link. 
http://www.bizjournals.com/twincities/stories/2007/02/12/daily44.html
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Posted by Nicholas Henderson at 2/16/2007 11:42 PM | View Comments (0) | Add Comment | Trackbacks (0)
CNBC interviewing Warren Buffett
Here is a nice, charming CNBC interview with Warren Buffett.
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Posted by Nicholas Henderson at 2/16/2007 11:09 PM | View Comments (0) | Add Comment | Trackbacks (0)
Buffett, Munger and Mauboussin
Buffett spent some time with some students from U of Georgia. One of them wrote up a blog. It’s at http://www.buffettspeaks.blogspot.com/ As an avid follower of Charles Munger’s mental model approach, see Poor Charlie's Almanack, I found Michael Mauboussin’s piece on what he calls diversity of thinking highly persuasive. http://www.leggmason.com/funds/knowledge/mauboussin/DiverseThinking.pdf
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Posted by Nicholas Henderson at 2/7/2007 11:18 AM | View Comments (0) | Add Comment | Trackbacks (0)
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