Category Archives: What we read

Book review: “Mister Swatch -Nicolas Hayek and the secret of his success”


This is basically part 4 and a half of my “watch series”. The founder of Swatch Group, Nicolas Hayek who died in 2010 was such an interesting character so I thought it made sense to read this biography.

The biography is unauthorized, Hayek was against it. The author is one of the most well-known Swiss Journalists. I actually read the German version because it was 10 EUR cheaper as hardcover than the English version.

Hayek was born in Lebanon into the “affluent middle class”. He went to Switzerland because he fell in love with a Swiss Aupair girl. His parents would not let marry him because of”low status” of the girl, so he left and went to Switzerland.
Read more

Some links

Market Folly with notes on all pitches from the “Invest for Kids” conference

You still believe that Operating Cash Flows are a better indicator than earnings ? Well, maybe not at Valeant.

Whole Foods is having a pretty hard time right now, maybe it’s worth having a closer look into ?

Wexboy likes Finish company Saga Furs

A rare glimpse into Baupost Group, especially they way the look at cash (H/T Valueinvestingworld)

Carl Icahn tells his story (8 minute video)

Adjusted EBITDA conquers the world or at least the S&P 500…..

Some links

A bad week for Globo: Bond issuance cancelled, detailed short thesis published (“Greek Parmalat), shares suspended

MUST WATCH: Wiliam Thorndike (“The Outsiders”) gives a “Google Talk” (Note to myself: Check Colfax, Arch Re, Crown Castle)

Damodaran looks at the Beer-Mega-Merger. A very good template for how to look at mergers / M&A.

Interesting look at “FitBits”, a potential “Watch killer”

Einhorn’s Greenlight Q3 2015 comment (Defends SUNE, bought Michael Kors, sold Citizen)

Why driverless Uber cars might not be the individual car killers generally thought

John Hempton (Bronte) scores big against Valeant plus of course the Citron Report on Valeant

8 reasons why no one cares for earnings anymore these day…

Finally Ben from WertArt on Rolls Royce and “investor hearding”

Some links

Great post from Nils Herzing on visiting Monish Pabrai’s Investor day. Monish seems to like Fiat a lot.

Barry Ritholz interviews Jason Zweig (WSJ)

A very good post on why and how to adjust EM company valuations for foreign currency borrowing plus thoughts on Chinese Banks

Check out this Japan focused value investing blog with some very high quality content: Undervaluedjapan

MUST READ: Fascinating article on how Berkshire closed the Precision Castparts deal (hint: initiative seemed to have come from Todd) (h/t valueinvestingworld)

MUST READ: Latest Memo of Oaktree’s Howard Marks called “It’s not easy”

Some links

A TED interview with HF legend Jim Simons

James Tisch (Loews) on value investing in cyclical industries

Geoff Gannon with a kind of rebuttal of my “Cheap for a reason” post

The Brooklyn Investor likes Charles Schwab

A good write-up on Interactive Brokers. I you compare that with Schwab, IBKR seems to have significant competitive advantages

Highly recommended: A great post why writing down one’s thoughts (“Journaling”) is a fantastic decision-making tool

Some links

Rob from RV capital has released his semi-annual investor report with some very good insights (registration required)

A very interesting “idea watchlist” from ClarkStreetValue

Whenever markets go down, Jim Chanos gets more airtime. Discusses China, EM, Solary City, HP and others.

Another half year report, this time from Zeke Ashton’s Centaur Total return fund

Damodaran vs. China

The ViennaCapitalist has an interesting perspective on commodity traders (Glencore)

« Older Entries