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    Wednesday, May 07, 2003

    Whitney Tilson is one of the links on my sidebar. I like a lot of the material that he publishes. His unabridged notes from the Berkshire Hathaway annual meeting are a must read. When Warren and Charlie speak, I listen. I haven't quite managed to reconcile my investment philosophy and there's. There is no doubt that he is a six sigma event in the investing world (a great argument against the strong form of efficient markets) and everyone could learn so much from him. I currently take small positions in much undervalued companies, I guess he can't go after the small opportunities that I do because to take a meaningful position in OCA for example would be buying the company and then the affects would still be minimal on Berkshire. I also don't plan on finding good business and holding on for the long term. I intend on finding cheap business and holding on until they become fairly valued businesses.

    Buffett talks about the massive inflows into Junk Bonds, something like 1bn a week. With that he says that he no longer thinks they are a good buy (he apparently made about 1bn on 8bn of junk last year). With my AES preferred success I am going to start reducing my position once I have had lots for a year I am going to prepare to sell them.

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    Disclaimer and Disclosure Analyses are prepared from sources and data believed to be reliable, but no representation is made as to their accuracy or completeness. I am not paid by covered companies. Strategies or ideas are presented for informational purposes and should not be used as a basis for any financial decisions.
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