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Guy Spier - Aquamarine Fund - Partner Letter 2012-02


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What's the company that the Daily Journal bough a huge amount?

 

BeerBaron

 

 

Munger’s Daily Journal Adds Sixth Holding to Portfolio

2012-02-10

http://www.bloomberg.com/news/2012-02-10/munger-s-daily-journal-broadens-investment-portfolio-with-a-sixth-holding.html

 

Munger's Daily Journal Corp: Investment Portfolio Equals Nearly 80% of Market Cap

2012-02-14

http://theinvestmentsblog.blogspot.de/2012/02/mungers-daily-journal-expands-portfolio.html

 

DAILY JOURNAL CORP CIK#: 0000783412 (see all company filings)

Mailing Address

355 SOUTH GRAND AVENUE 34TH FLOOR

LOS ANGELES CA 90071-1560

Business Address

915 EAST FIRST STREET

LOS ANGELES CA 90012

 

Here are all their SEC filings:

http://www.sec.gov/cgi-bin/browse-edgar?company=Daily+journal&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany

 

 

 

 

 

 

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Nice chart.

 

But I hate Taleb calling known things with known names by new names. This "anti-fragility" stuff ... what an awful invented word. Why not just call it resilient, elastic, redundant, adaptive or stable and these are just a few examples. The strategy of adapting instead of predicting is known from several fields (mechanics, biology, business strategy, military strategy, logistics) and each one provides ways to describe it.

 

And calling "black swan" phenomena that are not examples of Hume's problem of induction. The anomalous orbit of Mercury, OK ... another real estate bubble, not OK.

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