Notes from the Value Investing Congress

I sat out the morning session of the Value Investing Congress for a combination of reasons, but primarily because I’m always swamped on Mondays with client service issues and the speakers I was excited about were coming later anyway. The shot above is of Whitney Tilson himself, taken from the press balcony in the Broadway…

The MySpace Comeback – Laugh, but make a page just in case

There’s a new MySpace reboot happening now on an invitation-only basis. The preview video makes it look like an image-heavy sort-of Pinteresty Facebook with some Twitter elements sprinkled about for good measure. I can’t believe I fucking talk like this now. Anyway, the revival of MySpace is being led by none other than Justin Timberlake….

The Question on Everyone’s Mind

In the 3rd quarter of 2012, the broad US stock market (S&P 500) was up 5.8%. The US bond market, as measured by the BarCap Aggregate Bond Treasury Total Return Index, was up a tenth of that, with a gain of only .57% for the quarter. This raises a huge question for portfolio managers and…

Communications

We stretched the string across the playground and were amazed at how clearly we could hear each other.

Integrity AND Profits, Not Integrity OR Profits

Arthur “Punch” Sulberger died this morning at 86. As the publisher of the New York Times from the 60’s through the 90’s, he was one of the last giants of journalism.  Sulzberger instinctively understood something very important about his business: Profitability does not mean you sold out, it means you’ve bought yourself the freedom to…