Finding Compounders

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“My first mistake, of course, was in buying control of Berkshire.” - Warren Buffett

Absent compelling opportunity, cash is king Seth Klarman

“I put two children through Harvard by trading options. Unfortunately, they were my broker's children.” - Jason Zweig

“I buy expensive suits- they just look cheap on me” - Warren Buffett

Peter Lynch has a different view on diversification

See’s Candies Fun Fact They do approximately 40% of the years volume and 75% of the year’s profit in the four weeks prior to Christmas

Blackstone President and Chief Operating Officer Jon Gray at his desk in 1992. Current net worth :$8.2 billion

A Fortune Magazine profile of a 28 year old Jamie Dimon

Funny story of how Goldman Sachs won the mandate for Lululemons. 2007 IPO While other investment bankers arrived in suits, David Solomon and his team arrive wearing Lululemon gear

David Solomon , CEO of Goldman Sachs, on missing out on a $2billion deal while playing golf

Uber’s Earliest Investors The upside in VC is actually insane h/t: thehedgefundinvestor

Carl Icahn once fired 12 floors of people at one time Listen as he recounts the story

“But for people that make a lot of money, at least in business, or in any area, I think, the common denominator is an obsession, that they really are obsessed.” - Carl Icahn

“ I will never risk getting caught short of cash” - Warren Buffett

Interesting Buffett story “If you are not disciplined in the little things, you won’t be disciplined in the big things”

A young Bill Ackman sitting behind Warren Buffett at The Buffett Essays Symposium in 1996

Imagine giving Buffett $30 000 and now being worth. $300 million That is what happened to the Angle family Great article

In 2007 , David Einhorn announced Lehman as a short at the Value Investors Conference Here is his communication with Erin Callan , the then CFO at Lehman.

Dick Fuld , Lehman’s former CEO, on the cover of BusinessWeek in 2001

The last page of Lehman Brother slide deck on Risk Management This was 13 months before the bank collapsed