General Thoughts

A Few Thoughts on Reducing Unforced Errors

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This weekend I came across a link to an excellent Manual of Ideas interview with Allan Mecham that I’ve read before, but I decided to read through it again. There are a few key points that Mecham brings up that I think are really worth repeating, so I thought I’d highlight them here. Investing is not easy, but it should be simplistic. Here are some points worth keeping in mind: Understand What You Are Buying The first is the concept of understanding a […]

Bruce Berkowitz

Bruce Berkowitz Discusses His Financial Investments

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Bruce Berkowitz is one investor that I like to study. I like to run an adequately diversified portfolio, taking advantage of what I consider to be numerous high probability situations. I imagine certain probabilities with each investment, and I look at diversification in two ways: one is through the various positions I currently have, and one is through the positions I will hold in the future. The latter refers to my thesis that over time, buying undervalued stocks over and […]

Investment Philosophy

More Notes & Articles on Allan Mecham of Arlington Value, “The 400% Man”

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Last week I wrote a post summarizing some of my thoughts on a Smart Money piece called “The 400% Man” that came out about a year ago. The piece dramatically increased the popularity of a small town, small-time (small meaning assets under management, not returns) hedge fund manager named Allan Mecham of Arlington Value Management. I think Mecham now manages a few hundred million in his fund, but before last year he was managing around $80 million. He started his […]

Get Better by Reading

Thoughts on Investment Process & Shareholder Letters to Read

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In the last week or so, I’ve written a couple posts on my investment process. One post discussed where I look for ideas and the tools I use, and the other briefly discussed my investment routine. Feel free to read those posts for more of my thoughts on my process, but here is a quick summary of the places I look on a daily/weekly/monthly basis for investment ideas: Value Line Wall Street Journal Investment Blogs Screeners New Low List Value […]

Investment Philosophy

The 400% Man-A Lesson for Aspiring Investors

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This afternoon I came across an article from Smart Money that is about a year old. I read it for the first time today, and it was one of those  pieces that you bookmark for reading again later. The piece was called “The 400% Man“, and had the intro tag line: “How a college dropout at a tiny Utah fund beat Wall Street, and why most managers are scared to copy him.” The article provides a great background into a […]