Happy Fourth of July!
Here are some links for the long holiday weekend:
First, are some Michael Burry resources provided by John Chew at the excellent CS Investing Blog. Michael Burry is a huge inspiration to me. If you are not familiar with him, I strongly urge you to read The Big Short by Michael Lewis. Burry is more a of classic value investor and is not particularly interested in moats. He will buy any asset class as long as it is cheap. Nevertheless, I find his story and approach to investing very informative.
Second, here is a site on moats put together by two adjunct professors at Columbia Business School to support their course. They refine the concept of moat by referring to “competitive advantage period” or CAP. This distinction is helpful because it reminds us of the temporal nature of moats. There are very few Cokes out there which can fend off competition for decades. The website is old-fashioned and not particularly well organized, but there are some gems there.
Lastly, here is an open letter to Buffett written by one of the professors referred to above, Michael Maubossin. This letter figures prominently in my thinking.
RE: CAP website
Can you point out any areas you found particularly useful? I was hoping it would be as content rich as Damadoran @ NYU’s website.
I’m sorry you were disappointed. I tried to manage expectations. It is clearly not as user-friendly as the Damadoran site. There are some good articles here: http://www.capatcolumbia.com/ValueBsdRsrch/competit.htm
Hai I need the PDF file of open letter to buffet from micheal Mauboussin regarding kellogg .Please send to me
I don’t have it in PDF form.
Ok give me at any format.beacuse that scribd is not working.please
Click to access 38630396-An-Open-Letter-to-Warren-Buffett-Kellogg-Company.pdf
I’ll leave it on my dropbox for a few days. Act quick.
Ha! Thank you very much.
Thanks u very much i got it.
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