Mario Gabelli’s 2025 investment outlook comes down to one simple idea: “we want the ignored and unloved, Howard wants the loved, I want the ignored.” The veteran investor’s approach remains as straightforward as ever – find value where others aren’t looking. At this year’s annual meeting, Gabelli explained his core … Read More
Michael Mauboussin: The Hard Truth About Drawdowns
Let’s cut to the chase: if you can’t stomach big drawdowns, you shouldn’t be investing in stocks. As Michael Mauboussin and Dan Callahan put it in their latest Morgan Stanley report, Drawdowns and Recoveries, Charlie Munger’s take on this is brutally clear: “I think it’s in the nature of long-term … Read More
Tom Gayner: Investing Can Make You Look Dumber Than You Really Are
At the Acatis Value Conference in Frankfurt, Tom Gayner spoke about his approach to long-term investing and the principles that shape his portfolio. “We try to find good companies and give them time to compound over time,” Gayner said, referring to his decades-long position in Novo Nordisk. “My decision was … Read More
Howard Marks: The Essence of Investing Is Risk for Profit
During his recent panel discussion at the 2025 Qatar Economic Forum on Bloomberg Live, Howard Marks said: “The essence of investing is appropriately bearing risk for profit.” In this conversation he laid bare how risk, uncertainty, and judgment shape the core of long-term investing. Marks emphasized the importance of understanding … Read More
Alphabet Inc. (GOOGL) Superinvestor Moves: Top Investor Activity Last Quarter
Data from our SuperinvestorHub platform reveals that one of the most popular stocks held last quarter was Alphabet Inc. (GOOGL). Our coverage includes 55 top investors, including Warren Buffett, Howard Marks, Jeremy Grantham, and Joel Greenblatt. As part of a new series, we’ll be breaking down quarterly activity for one … Read More
Terry Smith: Why We Stay Fully Invested
When you get a chance, check out the annual letters by Fundsmith’s Terry Smith. His 2014 letter delivers his usual mix of dry wit, no-nonsense advice, and unwavering belief in buy-and-hold investing. After another strong year—up +23.3% versus +11.5% for the MSCI World—Smith opens by reminding readers, “We never tire … Read More
Mohnish Pabrai: How Not To Leave So Much Money On The Table
During his recent presentation at VALUExBRK 2025, Mohnish Pabrai reflected on past missteps, admitting, “Most of my investing career I had this screwed up framework.” For years, he sold too early—selling when stocks hit 90-95% of what he believed was intrinsic value. “So much money left on the table with … Read More
Warren Buffett: Key Takeaways from the 2025 Berkshire Meeting
At 94 years old, Warren Buffett still has a firm grip on the essence of long-term investing—and life. Speaking to tens of thousands at the 2025 Berkshire Hathaway Annual Meeting, Buffett offered more than just market commentary. He shared his hard-earned knowledge from decades of discipline, trust, and humility. One … Read More
Triumph of the Optimists – Book Summary
One of my favorite investing books is Triumph of the Optimists. If you’ve ever wondered what history can teach us about the markets, this book delivers—with over 100 years of data. Written by Elroy Dimson, Paul Marsh, and Mike Staunton, it explores one simple but profound idea: over the long … Read More
Bill Ackman: Compounding, Hedging, and Quality Over Everything
As someone who’s read hundreds of shareholder letters over the years, I can confidently say Bill Ackman writes some of the best. His 2020 annual letter for Pershing Square Holdings is no exception—equal parts performance report, investment philosophy, and storytelling. The headline numbers alone demand a closer look: a 70.2% … Read More
Jeremy Grantham: Market Mispricing, Return Chasing, and High-Quality Bargains
If you’ve ever wondered what it looks like when brutal honesty meets financial wisdom, Jeremy Grantham’s 2010 summer letter is a blueprint for clarity and conviction. And he doesn’t pull punches. Right from the start, he admits: “Well, I, for one, am more or less willing to throw in the … Read More
Prem Watsa: Surviving Losses and Playing the Long Game
If there’s one thing Prem Watsa teaches year after year, it’s that investing is a long game—and sometimes, it’s a tough one too. In 2016, Fairfax posted a $512 million loss, but Watsa didn’t flinch. “This was the fourth loss we reported in 31 years,” he wrote. “Since we began … Read More
Key Takeaways From The 1989 Berkshire Hathaway Letter
In his 1989 letter, Warren Buffett provided a number of key takeaways for thoughtful, long-term investors. One of the clearest lessons is his obsession with intrinsic value: “What counts, however, is intrinsic value—the figure indicating what all of our constituent businesses are rationally worth.” He explains that value comes down … Read More
How Prem Watsa Built Fairfax While Missing FAANG
Prem Watsa’s 2019 shareholder letter isn’t just a business update—it’s a clear example of long-term investing and disciplined growth in action. Fairfax earned a record $2 billion, with book value up 14.8%, and yet Watsa remains humble and focused: “We are working on it!” he writes, referring to the still-recovering … Read More
Mohnish Pabrai: Still Finding Undervalued Opportunities Today
In the latest Semi-Annual call for the Pabrai Wagons Fund, Mohnish Pabrai didn’t sugarcoat the recent portfolio drawdown. Instead, he offered insights into long-term thinking. “We’ve had a significant drawdown in the fund in the last few weeks,” he admitted, but quickly reframed the conversation: “You can only optimize for … Read More
Bill Nygren: Finding Value in the Shadows of the “Magnificent Seven”
The relentless dominance of tech giants—the so-called “Magnificent Seven”—has left many solid companies trading at bargain valuations, creating what veteran investor Bill Nygren calls “an unusual opportunity.” In his recent CNBC interview, the Oakmark Fund portfolio manager highlighted overlooked stocks with single-digit P/E ratios, arguing that the market’s fixation on … Read More
Warren Buffett: The Problem With Today’s ‘Electronic Herd’
The stock market today feels like it’s running on caffeine – jittery, reactive, and prone to wild mood swings. Warren Buffett saw this coming way back in 2007 during the Berkshire Hathaway annual meeting when he described what’s fundamentally changed in markets. “There is an electronic herd of people around … Read More
Mohnish Pabrai: Never Sell A Great Business Because It Looks Expensive
In a recent interview with Capital Compounders, investor Mohnish Pabrai shares hard-earned wisdom about recognizing and holding onto great businesses—especially compounders. He emphasizes that true understanding of a company often comes after buying it: “You really only truly understand a business after you own it.” While some businesses like Google … Read More
Warren Buffett: The Dangers of Overstimulation
In a world that glorifies hustle, constant activity, and the illusion of productivity, Warren Buffett’s timeless advice to MBA students at the University of Florida in 1998 serves as a stark reminder: sometimes, the best action is inaction. His words, delivered over two decades ago, remain as relevant today as … Read More
Bill Nygren on Investing in the Information Age
In his recent interview on The Valley Investors Podcast, Bill Nygren, the seasoned investor and portfolio manager at Oakmark Funds, reflected on how the investing landscape has transformed over the decades. His insights offer a compelling perspective on the challenges and opportunities facing modern investors in an era of unprecedented … Read More