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The Infant Learner

Some stuff I read this week:

A.  This week’s Special:- 

Deep Value Investor Seth Klarman

Seth Klarman was born in New York in 1957.He graduated from Cornell with a degree in economics, and then worked with the Mutual Shares Corporation before getting an MBA with Harvard Business.He bough his first share at the age of ten.He founded the Baupost Group in 1982, which now manages $ 7 Billion, and has an average return of nearly 20% annually since their inception.He is the author of the book:”Margin of Safety”.

He is a ” deep-value investor”.Like Benjamin Graham before him, he believes in investing in companies that are trading at very low multiples of their earnings.He believes in buying stocks with a “margin of safety”-i.e, those he believes are highly undervalued.He is prepared to wait patiently for such opportunities – he frequently has up to half his portfolio in cash.

He delivered lecture at Richard Ivey School of Business, where he explains following points:

  • Value Investing approach:Value investing is the marriage of a contrarian and a calculator
  • Benjamin Graham Strategy: Focus on risk before focus on return
  • Advantage of Long term investing orientation
  • His Investment Strategy
  • Process to avoid investing mistakes

Kindly access to the below links for full lecture : 
Seth Klarman Lecture at Richard Ivey  School of Business

B. Entrepreneurial Diary

( “Business means solution of a particular problem and Creating value for customer as well as value  for company ” – Paramjeet Redu )

Profile:Sunil Bharti Mittal ( Outlook )
Sandeep Goyal and his expanding digital universe (Forbes )
Best Seed Pitch Ever ( AVC )
Establishment of Fund of Funds for funding support to Start-ups  ( PIB )
Design and business: The substance of style ( Founding Fuel )
Start Up Funding  : CRISPR ( Fortune )
Start up Corner : Niki.ai ( Business Standard )
Why I flew down from Peru to work in a Indian Startup ( OC )
How this VC went from Google to a must-read blogger ( BI )
Want to Start Your Own Venture Fund ( Medium )

C. Other Stories

The Focus Investing : The Munger Network of Mental Models( Focus Investing )
Operating Leverage:A Framework for Anticipating Changes in Earnings (CS )
The Value Firm Explained [Slides] ( TVF )
Annual Letter 2015-16 :Our Wins, Losses & Lessons Learnt  ( AI )
BREXIT – How does it impact us? ( Edelweiss)
Kirchner, Merger Arbitrage ( Reading the markets )
Nassim Taleb’s Life Advice: Be Careful of Life Advice ( Farnamstreet )
Interview with Charles Akre,CIO,Akre Capital ( VR )
How Priyanka Chopra manages her money ( Mint )
Understanding registrar and transfer agent and his role ( Economics Times )
China: Is peak coal part of its problem? ( Ourfinite world)
How It`s Made Batteries ( YT )

“I read everything: annual reports, 10k’s, 10q’s, biographies, histories, five newspapers a day. On airplanes, I read the instructions on the backs of seats. Reading is key. Reading has made me rich over time” – Warren Buffett

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you” – Charlie Munger

You have to apply yourself each day to becoming a little better. By applying yourself to the task of becoming a little better each and every day over a period of time, you will become a lot better”-  Carol Dweck