Brucie Bonus

It is always nice to see a new Bruce Greenwald video. He always provides some unique Professor-like insights which have some practical investment utility. This video includes Bruce’s explanation of why Apple’s margins in the consumer market are more subject to competitive pressure compared to margins in localised vertical markets such as those in which…

A Financial Analysis Template

In 2011 Mary Buffett and David Clark released a book that outlines Warren Buffett’s approach to investing (Warren Buffet and the Interpretation of Financial Statements). I found this such an excellent encapsulation of what I had pieced together from various sources over the years that I knocked up a financials template based upon it so…

IBM – Big Blues?

The Hinterland recently had the ultimate test of value investor conviction when buying IBM; buying a stock and then seeing it immediately drop in value on the back of another quarterly decline in revenues. Just to galvanise the test, an acquaintance then publicly goaded me on Facebook for not buying Google or Apple, which both…

American Express…to where?

Amex is The Hinterland’s largest holding. It has generated a 25%+ return at the time of writing and it is a long time favourite of Warren Buffet and Bruce Greenwald. However, the question must be asked at least annually, is it a hold? One can see why so many eminent investors favour this company. It…

The Best Lecture Ever

Whilst we are on the theme of MBAs and lectures, its a good point to post the best lecture ever given. Below is a lecture Warren Buffet gave to Florida MBA students. I can’t think of a more useful way to spend 90 minutes (you may want to skip the first 10 when he gives…