To my surprise, Curtis R. Jensen, Chief Investment Officer of the Third Avenue Small-Cap Value Fund, revealed in his letter to shareholders from April 30th. 2011, that the fund had added Madison Square Garden common shares to its portfolio. Third Avenue operates value oriented mutual funds, based on the principles of Ben Graham. Its founder, … Continue reading Nugget: Third Avenue takes on a position in Madison Square Garden common
Tag: value
Parmalat, a rebirth
Who doesn´t remember the Parmalat logo on the front of the F.C. Parma kit? Or the gigantic bankruptcy that ended that sponsorship deal? Well, Parmalat is back. After serious restructuring the company as returned to profitability and with a very strong balance sheet, it seems like an interesting investment. In the first quarter of 2011 … Continue reading Parmalat, a rebirth
Buffett: The dream business
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A Munger must-read
This is a transcript from a speech that Charles Munger of Berkshire did at USC Business School, 1994. A great read. If you don't get this elementary, but mildly unnatural, mathematics of elementary probability into your repertoire, then you go through a long life like a onelegged man in an asskicking contest. You're giving a … Continue reading A Munger must-read