Sunrider Posted March 17, 2013 Share Posted March 17, 2013 Hi everyone Seeing that another member observed to me in private that what I asked is unreasonable, I'd just like to clarify that I see this as nothing else than what's going on on the boards already - just more easily accessible and easier to engage with on discussions. Thanks - C. Link to comment Share on other sites More sharing options...
jeffmori7 Posted March 17, 2013 Share Posted March 17, 2013 Yes, I think a lot of us would be interested in knowing the success and failure of the superinvestors. Maybe a brief summary of the superinvestors super-investments, and their process of thinking in each of those rewarding investments. That would be appreciated, thanks! Link to comment Share on other sites More sharing options...
tombgrt Posted March 17, 2013 Share Posted March 17, 2013 Hi everyone Seeing that another member observed to me in private that what I asked is unreasonable, I'd just like to clarify that I see this as nothing else than what's going on on the boards already - just more easily accessible and easier to engage with on discussions. Thanks - C. Well, I personally think this member is right. Those members are already incredibly open about their positions and can you find all needed info quite easily. There is really no need to ask for even more help. On the other hand, it would further facilitate cloning positions and strategies by new members without understanding the thesis or the risks involved. Aside from that, each topic on individual companies gives great insight in how ideas, opinions and sentiment (!) evolve between board members. It will also increase your own understanding much more than a simple overview with the top holdings of our Superinvestors ever would. Link to comment Share on other sites More sharing options...
watsa_is_a_randian_hero Posted March 17, 2013 Share Posted March 17, 2013 I am not in Parsad's 20 investors...but I have been able to compound at just over 20% over the last 10 years. A large part due to fairfax (had over 100% of my net worth in fairfax & ORH at one point); a large part due to other ideas from this board. Thanks parsad (and all posters) for making me wealthier! Link to comment Share on other sites More sharing options...
LC Posted March 17, 2013 Share Posted March 17, 2013 I am not in Parsad's 20 investors...but I have been able to compound at just over 20% over the last 10 years. A large part due to fairfax (had over 100% of my net worth in fairfax & ORH at one point); a large part due to other ideas from this board. Thanks parsad (and all posters) for making me wealthier! Nice :) I look at this community as a place to "hone my craft". I value the criticism on my analytic and valuation reasoning, as well as the methodology of entering and exiting investment positions, so that one day I can identify a hugely undervalued business and have the confidence in my ability to buy it when others are avoiding it like the plague. And doing the same for others means we can all learn and become better investors, and in turn, wealthier! And while I'm on a philosophical slant, I see value investing as a tool for living, not simply a way to "make money". Investing time and energy in undervalued aspects of life, not just undervalued securities, is a way to be pleasantly surprised! Being a contrarian, not accepting the "status quo", standing by your own analysis and being humble enough to admit when you are wrong: these are tools for life, not just buying and selling companies. Link to comment Share on other sites More sharing options...
Sunrider Posted March 17, 2013 Share Posted March 17, 2013 I am not in Parsad's 20 investors...but I have been able to compound at just over 20% over the last 10 years. A large part due to fairfax (had over 100% of my net worth in fairfax & ORH at one point); a large part due to other ideas from this board. Thanks parsad (and all posters) for making me wealthier! Nice :) I look at this community as a place to "hone my craft". I value the criticism on my analytic and valuation reasoning, as well as the methodology of entering and exiting investment positions, so that one day I can identify a hugely undervalued business and have the confidence in my ability to buy it when others are avoiding it like the plague. And doing the same for others means we can all learn and become better investors, and in turn, wealthier! And while I'm on a philosophical slant, I see value investing as a tool for living, not simply a way to "make money". Investing time and energy in undervalued aspects of life, not just undervalued securities, is a way to be pleasantly surprised! Being a contrarian, not accepting the "status quo", standing by your own analysis and being humble enough to admit when you are wrong: these are tools for life, not just buying and selling companies. +1 Link to comment Share on other sites More sharing options...
compoundinglife Posted March 17, 2013 Share Posted March 17, 2013 And while I'm on a philosophical slant, I see value investing as a tool for living, not simply a way to "make money". Investing time and energy in undervalued aspects of life, not just undervalued securities, is a way to be pleasantly surprised! Being a contrarian, not accepting the "status quo", standing by your own analysis and being humble enough to admit when you are wrong: these are tools for life, not just buying and selling companies. Agreed! That is the exact thought that motivated me to choose my username :) Link to comment Share on other sites More sharing options...
Junto Posted March 17, 2013 Share Posted March 17, 2013 I am not in Parsad's 20 investors...but I have been able to compound at just over 20% over the last 10 years. A large part due to fairfax (had over 100% of my net worth in fairfax & ORH at one point); a large part due to other ideas from this board. Thanks parsad (and all posters) for making me wealthier! Nice :) I look at this community as a place to "hone my craft". I value the criticism on my analytic and valuation reasoning, as well as the methodology of entering and exiting investment positions, so that one day I can identify a hugely undervalued business and have the confidence in my ability to buy it when others are avoiding it like the plague. And doing the same for others means we can all learn and become better investors, and in turn, wealthier! And while I'm on a philosophical slant, I see value investing as a tool for living, not simply a way to "make money". Investing time and energy in undervalued aspects of life, not just undervalued securities, is a way to be pleasantly surprised! Being a contrarian, not accepting the "status quo", standing by your own analysis and being humble enough to admit when you are wrong: these are tools for life, not just buying and selling companies. +2 Link to comment Share on other sites More sharing options...
stahleyp Posted March 17, 2013 Share Posted March 17, 2013 I am not in Parsad's 20 investors...but I have been able to compound at just over 20% over the last 10 years. A large part due to fairfax (had over 100% of my net worth in fairfax & ORH at one point); a large part due to other ideas from this board. Thanks parsad (and all posters) for making me wealthier! Nice :) I look at this community as a place to "hone my craft". I value the criticism on my analytic and valuation reasoning, as well as the methodology of entering and exiting investment positions, so that one day I can identify a hugely undervalued business and have the confidence in my ability to buy it when others are avoiding it like the plague. And doing the same for others means we can all learn and become better investors, and in turn, wealthier! And while I'm on a philosophical slant, I see value investing as a tool for living, not simply a way to "make money". Investing time and energy in undervalued aspects of life, not just undervalued securities, is a way to be pleasantly surprised! Being a contrarian, not accepting the "status quo", standing by your own analysis and being humble enough to admit when you are wrong: these are tools for life, not just buying and selling companies. +2 On the bandwagon too! +3 Link to comment Share on other sites More sharing options...
twacowfca Posted March 17, 2013 Share Posted March 17, 2013 I am not in Parsad's 20 investors...but I have been able to compound at just over 20% over the last 10 years. A large part due to fairfax (had over 100% of my net worth in fairfax & ORH at one point); a large part due to other ideas from this board. Thanks parsad (and all posters) for making me wealthier! Nice :) I look at this community as a place to "hone my craft". I value the criticism on my analytic and valuation reasoning, as well as the methodology of entering and exiting investment positions, so that one day I can identify a hugely undervalued business and have the confidence in my ability to buy it when others are avoiding it like the plague. And doing the same for others means we can all learn and become better investors, and in turn, wealthier! And while I'm on a philosophical slant, I see value investing as a tool for living, not simply a way to "make money". Investing time and energy in undervalued aspects of life, not just undervalued securities, is a way to be pleasantly surprised! Being a contrarian, not accepting the "status quo", standing by your own analysis and being humble enough to admit when you are wrong: these are tools for life, not just buying and selling companies. Watsa is. . . You are definitely a candidate to be a super investor if you can regularly compound at 20% long term in a variety of markets. That's about what Carnegie, Graham, Buffett did (and Keynes, almost in a tough market). LC, you are wise beyond mere investing. Protecting what is most important (it's not money) while allowing for good things to happen is a secret for true success. :) Link to comment Share on other sites More sharing options...
premfan Posted May 6, 2013 Share Posted May 6, 2013 Please someone interview all the superinvestors and write a ebook. All the info is on the forum but, it would be nice if it was organized into chapters. I would buy the ebook. Just a thought.. Link to comment Share on other sites More sharing options...
frog03 Posted May 6, 2013 Share Posted May 6, 2013 Would love to see more stuff about Allan Mecham. Maybe Sanjeev could orgnanize this in his free time 8) Link to comment Share on other sites More sharing options...
Parsad Posted May 6, 2013 Author Share Posted May 6, 2013 Would love to see more stuff about Allan Mecham. Maybe Sanjeev could orgnanize this in his free time 8) LOL! I spent hours with Allan and Ben on Friday night in Omaha...we were watching hockey! I don't think he wants more stuff about him. He is honestly a very low profile person. And he's the real deal...head down, do the work, and never betray the fiduciary responsibility he was given or take advantage of his partners. Cheers! Link to comment Share on other sites More sharing options...
Yours Truly Posted May 6, 2013 Share Posted May 6, 2013 Please someone interview all the superinvestors and write a ebook. All the info is on the forum but, it would be nice if it was organized into chapters. I would buy the ebook. Just a thought.. There was book that was released a few years back called the "Warren buffets next door" highlighting ordinary Joe's earning 15-30% over long time spans (over 10 years) Link to comment Share on other sites More sharing options...
Parsad Posted May 6, 2013 Author Share Posted May 6, 2013 I'm thinking of putting a book together...have to talk to both Twafcowa and Paul Clerc, as I plan on updating the homepage and some other features, and the book would be published through Twafcowa's company and we would have an electronic version as well. Alot of work, but I was hoping to put it out some time in 2015...ten years after I had lunch with Prem! It wil give me enough time to also interview some of the board members on here, as well as some my manager friends. Cheers! Link to comment Share on other sites More sharing options...
Liberty Posted May 7, 2013 Share Posted May 7, 2013 I'm thinking of putting a book together...have to talk to both Twafcowa and Paul Clerc, as I plan on updating the homepage and some other features, and the book would be published through Twafcowa's company and we would have an electronic version as well. Alot of work, but I was hoping to put it out some time in 2015...ten years after I had lunch with Prem! It wil give me enough time to also interview some of the board members on here, as well as some my manager friends. Cheers! That's would be awesome! I'd pre-order it. :) Link to comment Share on other sites More sharing options...
giofranchi Posted May 7, 2013 Share Posted May 7, 2013 I'm thinking of putting a book together...have to talk to both Twafcowa and Paul Clerc, as I plan on updating the homepage and some other features, and the book would be published through Twafcowa's company and we would have an electronic version as well. Alot of work, but I was hoping to put it out some time in 2015...ten years after I had lunch with Prem! It wil give me enough time to also interview some of the board members on here, as well as some my manager friends. Cheers! That's would be awesome! I'd pre-order it. :) Yes! Wonderfull! Cannot wait to get to 2015!! :) giofranchi Link to comment Share on other sites More sharing options...
berkshiremystery Posted May 7, 2013 Share Posted May 7, 2013 I would also pre-order it. And if Sanjeev would print only about 1500 copies exclusively/mostly for board members, we might get some Seth Klarman book effect. ;) Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 8, 2013 Share Posted May 8, 2013 So if a book is put out, how many people flood in here? Link to comment Share on other sites More sharing options...
Parsad Posted May 8, 2013 Author Share Posted May 8, 2013 So if a book is put out, how many people flood in here? We won't let them in. They can lurk! ;D Cheers! Link to comment Share on other sites More sharing options...
Uccmal Posted May 8, 2013 Share Posted May 8, 2013 So if a book is put out, how many people flood in here? We won't let them in. They can lurk! ;D Cheers! Thats a fair point. On the other hand: I have held BAC for 3 years continuously now, buying on each dip, and reducing into rallies. I have rebought over and over AT ever increasing prices, as the thesis improved. How many have the stomach for that? This game is far more psychological and behavioural than analytical. Anyone can learn to read a balance sheet and understand enough accounting to get average returns. To some extent one can learn how to be smartly contrarian. However, I dont believe that one can learn how to comfortably go against the crowd, as an adult, for long periods of time. That includes the crowd on this board. Take SHLD: I owned it about 7 years ago for awhile, knew the balance sheet, the real estate thesis, the brand thesis etc. I gratefully exited it AT A LOSS. Since then via this board I have followed it closely. I completely understand the thesis, still. But I dont agree with it. What I see is a retailer that is horrendously run that may or may not be able to liquify its real estate fast enough to keep up with the hemoraging retail operation. Bruce B. and others see something different. But only I will be able to change my mind. Same with Apple. MBIA I have never understood. I no longer do oil and nat. gas, or commodity based products, normally. I am certainly not immune to outside influence. I have to actively avoid outside effects at times. Ie. I have deilberately skipped the FFh AGM for two years now to avoid having Prem as a larger part of my head than he already is. I know his thoughts on deflation, market valuations etc. I respect him a great deal. I just dont need his thoughts becoming mine. The other thing I avoid is business TV, and online video. When I used to watch alot of business TV I was forever buying and selling, different securities, because ideas would get into my head. Not any longer. In the past 12 months I have bought exactly one new stock: AIG. I trade alot, but like Eric, it is around 5 at most stocks, at any given time. Finally, there are board members here who know more about certain things than I do which has been of great help to me. Quite a number actually. Link to comment Share on other sites More sharing options...
alwaysinvert Posted May 8, 2013 Share Posted May 8, 2013 So if a book is put out, how many people flood in here? We won't let them in. They can lurk! ;D Cheers! Thats a fair point. On the other hand: I have held BAC for 3 years continuously now, buying on each dip, and reducing into rallies. I have rebought over and over AT ever increasing prices, as the thesis improved. How many have the stomach for that? This game is far more psychological and behavioural than analytical. Anyone can learn to read a balance sheet and understand enough accounting to get average returns. To some extent one can learn how to be smartly contrarian. However, I dont believe that one can learn how to comfortably go against the crowd, as an adult, for long periods of time. That includes the crowd on this board. Take SHLD: I owned it about 7 years ago for awhile, knew the balance sheet, the real estate thesis, the brand thesis etc. I gratefully exited it AT A LOSS. Since then via this board I have followed it closely. I completely understand the thesis, still. But I dont agree with it. What I see is a retailer that is horrendously run that may or may not be able to liquify its real estate fast enough to keep up with the hemoraging retail operation. Bruce B. and others see something different. But only I will be able to change my mind. Same with Apple. MBIA I have never understood. I no longer do oil and nat. gas, or commodity based products, normally. I am certainly not immune to outside influence. I have to actively avoid outside effects at times. Ie. I have deilberately skipped the FFh AGM for two years now to avoid having Prem as a larger part of my head than he already is. I know his thoughts on deflation, market valuations etc. I respect him a great deal. I just dont need his thoughts becoming mine. The other thing I avoid is business TV, and online video. When I used to watch alot of business TV I was forever buying and selling, different securities, because ideas would get into my head. Not any longer. In the past 12 months I have bought exactly one new stock: AIG. I trade alot, but like Eric, it is around 5 at most stocks, at any given time. Finally, there are board members here who know more about certain things than I do which has been of great help to me. Quite a number actually. Good stuff and props on your Sears exit. I know almost nothing about the company but it takes some serious guts to turn on a thesis held for 7 years. To get a bit philosophical, the line between setting out to disprove a thesis and setting out to prove it is ever so blurry. There's no way I can do it consciously. I absolutely need some crutches, and even then the process is far from foolproof. I wish I had the conviction some of you guys do, but I'm always uncertain to some degree. I'm like Phil Fischer, constantly walking and worrying. If you skip the walking. Link to comment Share on other sites More sharing options...
hyten1 Posted May 8, 2013 Share Posted May 8, 2013 parsad get ready once the book is out, your time monitoring/kicking people out/etc of the board would increase i presume hy Link to comment Share on other sites More sharing options...
Uccmal Posted May 8, 2013 Share Posted May 8, 2013 alwaysinvert, I exited Sears 7 years ago, not recently. Part2: Conviction is an evolutionary thing. I didn't start out with 1/3 of my assets in BAC. My maximum number of shares was probably reached last fall. Link to comment Share on other sites More sharing options...
Uccmal Posted May 8, 2013 Share Posted May 8, 2013 Adding to that. I have had to sell every single day for two weeks to keep BAc from exceeding 30-40% total dollar value. Link to comment Share on other sites More sharing options...
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