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Two articles appeared in The Globe and Mail involving Canada’s top value investor, Fairfax Financial‘s Prem Watsa. The first is an interview containing his thoughts on commodities, the second is the success he has had with the Sick Children Foundation’s investment fund (racking up 41% returns last year). “Anything that everybody thinks is going to happen worries us,” Mr. Watsa said in an interview. “The excesses get built up. Recessions take them out.” Arrhythmia Research Technology, Inc. (HRT) develops medical software for analyzing the heart’s electrical impulses. Through its wholly owned subsidiary, Micron Products, Inc, the company manufactures and distributes conductive resin senors used in the manufacture of disposable electrodes used in cardiograph equipment. It currently trades for a market capitalization of $16.6m (<$6/share), less than twice NCAV and below tangible book value, despite having a track record of zero losses over the last decade, shareholder friendly management (both dividends and share repurchases) . . . In case you missed it: The Motley Fool: Top 10 Signs That Gold is in a Bubble James Altucher: 11 Signs That Gold is in Bubble that is Going to Burst Compare to my post A Bearish View of Gold I happened to stumble across one of my favourite articles by Warren Buffett, The Superinvestors of Graham-and-Doddsville, and thought I’d post it for anyone who hasn’t read it. In classic Buffett style, he makes a powerful argument via an allegory. If anyone has come across a competent rebuttal by EMH’ers, please send my way. Given the recent SEC investigations into prominent hedge funds and their consultants, I thought I’d share this link to an article from the WSJ regarding the benefits of insider trading. I recall being surprised when corporate law prof (a big fan of Henry Manne) made the same points – I had been under the impression insider trading was as close to a moral absolute as we have in business – always bad. Anyways, interesting article on a position . . . |
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