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Daniel Lauchheimer's  Instablog

Daniel Lauchheimer
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Investor with no formal training. Enjoy reading about happenings in corporate America, and trying to predict where things will land in the future. Interests span all sectors with no particular focus Also interested in macro strategies, and derivatives-- both for investing and hedging. No... More
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  • All Berkshire Hathaway Annual Shareholder Letters Combined

    I downloaded all of the BRK.A annual shareholder letters, PDF'ed them, and combined them.

    I think it could be useful if you want to search through all of the letters at once to see if WB ever wrote about a certain company/topic.

    Anyways, here is the file.

    Good luck and enjoy

    Oct 10 5:21 PM | Link | Comment!
  • Best Investing Lesson In History
    From BRK.A 1993 Investor LetterLet me add a lesson from history: Coke (KO) went public in 1919 at $40 per share. By the end of 1920 the market, coldly reevaluating Coke's future prospects, had battered the stock down by more than 50%, to $19.50. At year end 1993, that single share, with dividends reinvested, was worth more than $2.1 million. As Ben Graham said: "In the short-run, the market is a voting machine - reflecting a voter-registration test that requires only money, not intelligence or emotional stability - but in the long-run, the market is a weighing machine."

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: KO, BRK.A
    Oct 03 10:38 PM | Link | 1 Comment
  • New York Times Acquisition Possibilities

    In a previous post, I gave multiple reasons why I thought The New York Times will remain a financially successful company. I still believe in the main thrust of my thesis (though I had imprecise formulations), but I would like to raise an alternative possibility -- that Mike Bloomberg might buy The New York Times.

    This idea has gained a nice head of steam after a New York Magazine article floated the idea a few months back.

    I would just add one wrinkle to their speculation. Steven Rattner, a former hot shot investment banker at Lazard (LAZ) currently serves as chairman of Willet Advisors -- the firm that manages Mayor Bloomberg's fortune.

    Steven Rattner also (according to Vanity Fair, and Time Magazine) has a long time friendship with current New York Times publisher Arthur Sulzberger Jr.

    Could Mr. Rattner put on the old IB cap, and make one last front page deal?

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: NYT
    Jul 22 5:45 AM | Link | Comment!
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