Caroline is a first year at the University of Virginia, and is enjoying college life tremendously. We are looking forward to seeing her!
We have some friends who live in the Charlottesville area.
One of their neighbors is a fellow named Ted Weschler. Ted used to have his own investment shop in Charlottesville, but more recently is working with an insurance outfit in Omaha, Nebraska named Berkshire Hathaway, run by Warren Buffett.
Our friends report that Ted is a very unassuming, friendly neighbor, but seems to be constantly reading - a trait he shares with Buffett. Both men will spend days, if not years, understanding a company before committing capital (Buffett said that he read IBM's annual reports for 50 years before buying 5% of the company earlier this year).
Bloomberg ran a great piece earlier this week about Ted Weschler earlier this week which I thought was very interesting. Here's an excerpt:
Like Buffett, Weschler sought an edge by studying company filings and dozens of other publications. The former hedge-fund manager once told David that he didn’t make an investment unless he had spent 500 hours studying the idea.
“He’d go on vacation and take 10-Ks and 10-Qs with him,” said David, referring to the annual and quarterly reports publicly traded companies file to the U.S. Securities and Exchange Commission. “He still does.”
http://www.bloomberg.com/news/2012-10-22/weschler-rise-from-grace-leads-to-role-advising-buffett.html
No comments:
Post a Comment