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DELL and EBIX, Heads, I Win Now; Tails, I Win Later

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Yesterday I wrote a piece where I listed the three categories that my investments typically fall into: Franchises, Cheap and Good Stocks, and Cheap Asset Stocks. I also described a 4th category called Special Situations that I occasionally participate in when I find an interesting idea. The vast majority of my investments fall into the first three categories, but recently, I’ve looked at two interesting special situations that have a few similarities. Dell and Ebix are two stocks that I’ve […]

General Thoughts

To Arbitrage, or Not to Arbitrage

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I just spent all afternoon reading through all of Warren Buffett’s original partnership letters. These are the letters that he wrote to his investors when he was managing his private partnership from 1956-1969 prior to taking control of Berkshire Hathaway. I’ve read through these letters numerous times, and I recommend them to anyone who is serious about truly understanding the methods of Buffett. A while back I printed them and bound them so I have them collected in one place […]