East Coast Asset Management Q4 Shareholder Letter

East Coast Asset Management, run by Christopher Begg, is out with their Q4 shareholder letter. The fund was up 16% for 2012, not bad for a year when most hedge funds returned closer to 5%.  The fourth quarter letter includes an update on the fund’s portfolio and general market observations. Each quarter management highlights one component of their investment process. Companies include, Colfax Corp, Union Pacific and Burlington North Santa Fe and WABCO.
The full letter (via Marketfolly) is embedded below:

East Coast Q4 2012 Letter_Seek Knowledge of Causes

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Li Lu’s Four Basic Principles of Value Investing

li Lu valuewalk great value investors BYD charlie munger Warren Buffett Chinese investors concentrated investingLi Lu is undoubtedly one of the most under-appreciated investors. The founder and Chairman of Himalaya Capital Management established his firm in 1997 based on the principles laid out by Benjamin Graham. Lu is a close friend of Charlie Munger and was once thought to be in-line to succeed Warren Buffett as the chief investment Read More