Links of Interest – June 10, 2011

Transcript of Bill Ackman’s Super Fast Speech at the Ira Sohn Conference – Insider Monkey

The Questions to Ask When Deciding Appropriate Multiples for a Stock – Contains a good checklist to accompany my post on deciding on what multiple to pay for a stock.

Bruce Berkowitz Is Extremely Bullish About Bank of America $BAC – Insider Monkey

Why Would Anyone Own a Bank? – (Video) Davis/Selected American manager Ken Feinberg

Feinberg: Quality Franchises Will Be Key for Stock Investors – (Video) Davis/Selected American manager Ken Feinberg

Cisco a ‘Statistical Bet’ – “Tweedy Browne’s Will Browne and Tom Shrager bought Cisco because of its strong financial and market position, but they are keeping a very close eye on it.”

Creighton Value Investing Panel Notes – Annual event at Creighton University the week of the Berkshire meeting.  Panelists: Whitney Tilson, Vitaly Katsenelson, Michael Green and Patrick Brennan.  Another great job by The Inoculated Investor for putting putting these notes together.

Waiting for the Fat Pitch in Poker – “So how do we take this advice into a poker game and use it to become a better player? It can be implemented in several different ways. The most obvious is in game selection. Poker profits come from playing against inferior competition, period. Waiting for the fat pitch could mean waiting for certain games, game conditions, or even a particular opponent to show up.”

YouTube – How to make Money in the Stock Market? – Good video on value investing. At the 3:40 mark, there is a great discussion of self-delusion and the requirement for “brutal honesty” if you want to be a successful value investor.

Michael Harkins, a partner at Levy Harkins & Co., talks about the data he uses to formulate his investment strategy.  Contains a great lesson on the folly of economic forecasting.  You may not be familiar with Michael Harkin, but you should be – very sharp investor and thinker.



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