The Good News: Einhorn Is Finkle

[...] As Buffet said in the 1998 Berkshire Hathaway meeting: The secret to life is weak competition. We shouldn’t complain about how tough it is and how few people are willing to do this. We should celebrate the wealth (alpha) we can capture from this backdrop. We should intensify our work not on which stocks can rerate the quickest, but which businesses that we own can compound our capital inside their business without needing outside investors. It would be great, too, if other minority investors alongside us don’t understand the value we see and are more than willing to sell their shares during the next buyback activities. This market is requiring investors to play for keeps. [...] Read Full Article »