Very interesting WSJ article for those interested in Brazilian infrastructure investments – my cup of tea of late. It doesn’t hurt that Burlington Northern is a Berkshire Hathaway company either…
H/T to My Investing Notebook, and his emphasis on what Buffett says of Jeff Bezos is spot-on as the best part of an altogether interesting interview. Just yesterday I had read an interesting piece on how well Amazon Prime is doing, so this connected immediately. Disrupting innovation indeed.
We did this when MF Global collapsed, so we now have the damning 307-page report on JP Morgan’s “disastrous Whale trades” (and the 600-page annex). Before you say “when will we ever learn?”, say “we’re only human” (or sing it if you’re a Billy Joel fan) and strive to 1) be as aware of your own mental traps as you can be and 2) create and ruthlessly enforce policies that mitigate such issues in your firm/ unit/ practice.
We highlight a post by Fortune’s Dan Primack on a conflict of interests in Private Equity fund-raising. It falls into the “imagined but unproven” category – unproven until now, if you believe the research Mr. Primack uncovers. Interesting stuff, as long as we remain honest and vigilant about our own industry’s shortcomings.
Warren Buffett called him “the Babe Ruth of Insurance” and not just because of the turnaround at GEICO. This New York Times obituary on John Byrne is a nice read. While Buffett always says you should seek out businesses that are so good that an idiot can run it (because one will eventually), sometimes companies are blessed with great leaders as well.
Superb initiative by Code.org – it rang many bells with me because I coded a bit of Basic when I was maybe 8 years old. Having computers in our house since I could speak – and having the incentive to put them to better use than playing games – certainly helped me develop logic-related “skills” that were a big hand all throughout my life. To stay in the “personal advice from experience” realm: watch the other video today, not tomorrow. It is the closest thing to a life or death choice you will make today (hopefully). The time to decide is NOW.
Yes, the 2012 Berkshire Hathaway letter is out (in PDF). You know you’ll print this right away (or send it to your e-reader) and read it over the weekend… or even tonight. Good reading!