Rogers Talks Moats

In his latest column for Forbes, top fund manager John Rogers looks at the notion of economic “moats”, and how investors can profit from companies that have them. Rogers looks the wisdom of two great value investors — Warren Buffett and Charles Munger of Berkshire Hathaway — as it pertains to moats. Buffett, he says, has said of moats, “The key to investing is not assessing how much an industry is going to affect society,… Read More

Munger’s 10-Point Checklist

The Motley Fool’s Morgan Housel recently highlighted some words of wisdom from Charles Munger, Warren Buffett’s right-hand man at Berkshire Hathaway. Taken from Munger’s book Poor Charlie’s Almanack, the 10-point list represents Munger’s “investing principles checklist”. Much like Buffett’s advice, Munger’s is timeless in nature. Here are the ten points; for more detail, click here: 1. Measure risk All investment evaluations should begin by measuring risk, especially reputational. 2. Be independent Only in fairy tales… Read More

Inside Rodriguez’s Approach

A new Bloomberg article takes a look at First Pacific Advisors’ Bob Rodriguez, offering some insights into the strategy of the fund manager whose 15% average annual return over the past 25 years ranks #1 among diversified U.S. equity funds (according to Morningstar). Among the key parts of Rodriguez’s strategy, writes Bloomberg’s Charles Stein: He focuses on two or three industries at a given time; He looks for firms with market values between $1 billion… Read More

Munger on Success, Economists, and Why the Feds Got Lehman Right

In a wide-ranging interview, Charles Munger — Warren Buffett’s longtime partner at Berkshire Hathaway — tells the Stanford Lawyer why he and Buffett have been so successful, why economists so often fail, and why he thinks the federal government was right to let Lehman Brothers fail. “Warren and I have skills that could easily be taught to other people,” Munger told Joseph A. Grundfest, the Stanford professor conducting the interview, in the publication’s spring issue.… Read More

Gabelli and Munger on the Economy, Markets

“Woodstock for Capitalists” — the annual meeting of Warren Buffett’s Berkshire Hathaway — has been going on throughout the weekend in Nebraska, and Buffett’s comments have already made a lot of headlines. (More on those comments later today.) But Buffett isn’t the only one dishing out pearls of investment wisdom at the Omaha event. In separate interviews with CNBC, Mario Gabelli and Berkshire Vice Chairman Charles Munger — two Buffett fans who have compiled tremendous… Read More

Munger on Morality, Higher Taxes, and How The Founding Fathers Can Help Us Now

Charles Munger, Warren Buffett’s long-time sidekick at Berkshire Hathaway, offers some tough medicine for the U.S. in an editorial written for today’s Washington Post. Calling the current situation “dire”, Munger says that the current bust goes well beyond the normal boom & bust cycle, and measures should thus be taken to keep it from occurring again. “Should we opt for even more pain now to gain a better future?” he asks. “For instance, should we… Read More