Hottest links for Monday September 2nd, 2013 (see Sunday’s edition of hottest links here). We are on as regular for the holiday today, but stay tuned as we will not be posting Thursday and Friday (Wednesday is a maybe). Despite it being a holiday there is some great investing articles out there. Also, if you are not already subscribe (or update your subscription) to include hottest links and get it in your inbox everyday at 3PM EST. Today’s top stories include; The unreal tale of how Charlie Munger made a ton of money for a small newspaper in early 2009; Cliff Asness has some interesting remarks in this week’s Barron’s; A profile of Jeff Ubben, the man who ousted arch nemesis of all Microsoft investors, Steve Ballmer; 20 insights from investment great Peter Lynch;
Hottest Links: Munger Monday
Although he gets less press than his business partner at Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) , Warren Buffett, Charlie Munger is a great investor. Munger proved this by his shrewd investments in Wells Fargo & Co (NYSE:WFC) and U.S. Bancorp (NYSE:USB) for the Daily Journal Corporation (NASDAQ:DJCO) where he is a director, Jason Zweig of WSJ has a really superb article on the topic. We have some additional details and commentary on the subject. Josh Brown of the Reformed Broker also has some fantastic remarks on the topic. Finally, check out the original article on this topic from Noah Buhayar of Bloomberg.
Cliff Asness Defines Alpha
What can past market crashes teach us about the current one?
The markets have largely recovered since the March selloff, but most would agree we're not out of the woods yet. The COVID-19 pandemic isn't close to being over, so it seems that volatility is here to stay, at least until the pandemic becomes less severe. Q2 2020 hedge fund letters, conferences and more At the Read More
Cliff Asness of AQR did a great interview with Barron’s. The interview mostly focused on asset allocation and the predicted returns for a 60/40 portfolio. Check out the interview here, and commentary here from Josh Brown of the Reformed Broker.
15 behavioral biases that cause investors to do dumb things with their money. Check out the latest article from the always great Morgan Housel. (Morgan Housel, Fool)
20 insights from Peter Lynch, one of the best investors ever. Also if you have not down so run don’t walk to read Lynch’s books on investing, One Up On Wall Street: How To Use What You Already Know To Make Money In The Market and Beating the Street [Ivaylo Ivanhoff, ST50]
The Seven Deadly Sins of Investing
Anyone who reads this site regularly should know all these rules, but its still always good to get a reminder. Do you have any of these seven traits? And what do you to prevent yourself from making them repeatedly. [Kirsten Grind, WSJ]
Meet Jeffrey Ubben: The guy who cracked Microsoft’s board explains what he does
Jeff Ubben has accomplished the impossible. He has managed to get Steve Ballmer out of Microsoft Corporation (NASDAQ:MSFT) and is a hero of the investment world for his accomplishments. Check out this great article on Jeff Ubben…….[Todd Bishop, Geek Wire]. Also, Jeff Ubben will be speaking at the Value Investing Congress. ValueWalk readers can get a discount by using Code: N13VW7 before September 6th.
The myth of the all-weather portfolio
Prior to the financial crisis many thought that you could construct a portfolio which made money in all types of environments. However, the crisis has shown that there is no such thing as an all weather fund (even if some hedge funds have that name). [Tadas Viskanta, Abnormal Returns]
Opportunities in TARP Bailout Warrants
Making money from TARP; General Motors Company (NYSE:GM), Hartford Financial Services Group Inc (NYSE:HIG). See the value case for warrants from those two companies. [Jake Rosser, Beyond Proxy]
Should “Accounting Magic” Kill the American-US Airways Deal?
The recent U.S. Department of Justice challenge to the proposed merger of American Airlines ((AMR Corporation (OTCMKTS:AAMRQ)) and US Airways Group Inc (NYSE:LLC) nudged this’ Investigative Accountant’ to look a bit more at some of the numbers….[Dr. Catanach, Grumpy Old Accountant]
The Best Plays on Europe
Suddenly investors cannot get enough of European stocks. Valuations came down and smart money bought months ago. Now with equity prices up where can you find more value? [Brendan Conway, Barrons]
How to Avoid Being a Wall Street Muppet
On March 14, 2012, Greg Smith resigned from Goldman Sachs in an op-ed published by the New York Times. It was a notable moment in financial history for a couple reasons. First, Smith leveled an embarrassing public resignation at a storied American investment firm. People don’t just up and quit Goldman that way. [Barry Ritholtz, The Big Picture]
Talk: Icahn eyeing Apple hook-up
We reported months ago that Carl Icahn would be going activist on the maker of Siri, Nuance Communications Inc. (NASDAQ:NUAN), which just happened this weekend. Then Icahn bought some shares of Apple Inc. (NASDAQ:AAPL), so what does he have in mind? Some details here. [ Kaja Whitehouse And Mark Decambre, New York Post]
Not The Onion
Police thwarted by goat stuck on roof who ‘only respects one man’
A routine patrol took an unexpected turn for police in Gresham, Oregon, when they spotted a goat stuck on a roof. [Metro]