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My trip to Omaha with 40,000 of the Buffett faithful and what questions the Oracle didn't answer

Nuggets of Buffett and Munger wisdom were abundant and provided a window into the Warren succession -- plus plenty of Berky Briefs and Dilly bars

Monday, May 11, 2015 – 9:30 PM by Guest Columnist Gerri Leder
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This is not 1950; these are pilots in Omaha picketing the 2015 Berkshire Hathaway annual meeting.


serenitystocks

serenitystocks

May 13, 2015 — 5:23 PM

Benjamin Graham – also known as The Dean of Wall Street and The Father of Value Investing – was a scholar and financial analyst who mentored legendary investors such as Warren Buffett, William J. Ruane, Irving Kahn and Walter J. Schloss.

Warren Buffett once wrote a detailed article explaining how Graham’s record of creating exceptional investors (such as Buffett himself) is unquestionable, and how Graham’s principles are everlasting. The article is called “The Superinvestors of Graham-and-Doddsville”.

Buffett describes Graham’s book – The Intelligent Investor – as “by far the best book about investing ever written” (in its preface).

Graham’s first recommended strategy – for casual investors – was to invest in Index stocks.
For more serious investors, Graham recommended three different categories of stocks – Defensive, Enterprising and NCAV – and 17 qualitative and quantitative rules for identifying them.
For advanced investors, Graham described various “special situations”.

The first requires almost no analysis, and is easily accomplished today with a good S&P500 Index fund.
The last requires more than the average level of ability and experience. Such stocks are also not amenable to impartial algorithmic analysis, and require a case-specific approach.

But Defensive, Enterprising and NCAV stocks can be reliably detected by today’s data-mining software, and offer a great avenue for accurate automated analysis and profitable investment.

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