After the success of our last presentation one year ago we are happy to announce two upcoming presentations about value Investing. The first will be held by us at the 23.02.2015 19.30 on the EBS Campus in Oestrich-Winkel in room N3 the presentation will be presented in german and will deal with an introduction to Value Investing and two case studies. The Case studies will be interactive and contain a long pitch which we have not yet presented on the blog. The second will take place on Monday the 09.03.2015 18.30 in N3 and is presented by Frank Fischer of Shareholder Value Management AG eg. Frankfurter Aktienfonds für Stiftungen and is held in english. The topic of this presentation is Value Investing in Crises. You are kindly invited two both presentations but as place is scarce you have to quickly fill out the form below with you name and the number of guest first so that we can plan. We would be glad to host many visitors.
Please enter your name into this form to join: http://goo.gl/forms/RyiZmAbqnk Thanks.
As we are currently learning a lot about Deep Value investing and mental biases we would like to share some of the highlights of this. You can find an interesting and quiet entertaining google-talk with Tobias Charlisle below.
In the last Berkshire meeting somebody asked: “I am 26. If you were me and had the chance to start over, what areas would you like to get into and do you think that my generation has the same number of opportunities as yours?” Warren: “I think you have all types of opportunities. I would very much do what I did, start earlier, and do it a little better. I would try to develop an audited record of performance as early as I could. I would try to get something a lot more interesting, buying companies to keep. I establish relationships with people, I want to be for keeps. That’s been enormously satisfying, but it takes some capital to get into that business. I built it through managing money for myself and others. I would get past that as fast as I could then buy businesses, then spend the rest of my life doing it.
As we are trying to do exactly and are both quiet early in our carrier we find this citation really interesting. The citation is out of a longer article on gurufocus which is quiet intresting in the overall context of net-net investing and starting young. For us, one problem in our idea was and is the german regulation which is quiet strict in the business of managing money, even if you try it in a really small-scale and in an honest, low-cost way. We clearly underestimated that issue. You can the full article here.
Here are some more interesting articles about the topic of net-net investing, which we find quiet useful.
And here there is Pat Dorsey on the opposite side of the table, explaining why you should buy beautiful businesses.
The last video we would like share is from Howard Marks: Dare to be great which is a must see.
Have a great week!