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Notes on the CD Davis & Feinberg

Notes on the CD Davis & Feinberg - customers happy then...

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Notes on the CD called “Davis/Feinberg Interview” 1) What did they invest in? a) Some mega cap b) Some less well known c) Some headline makers i) 12% of their portfolio was made up of Energy Companies – 5 energy companies 2) Strategies a) Bought companies when they were out of the spotlight b) Buy mutual funds that have really strong managers c) Buy stocks in companies who have really good CEOs d) Study Short term to see events to get a long term perspective i) See if the short term has long term effects e) Only invest into stock where you have a really strong knowledge of the industry f) Buy and Hold g) Spend months researching things and sometimes it will be a few years before you get a chance to buy that stock that you really like h) Companies deemed to be risky are often better investments and those that are deemed bullet proof are often bad investments i) Look for companies that create value for their customers – American Express and Costco i) When a company creates value for its customers or makes its
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Unformatted text preview: customers happy, then the regulators tend to stay away. ii) If companies keep customers happy then that creates durability 3) Advice a) You must love to read b) You must love to be up at 5 in the morning c) It must excite you d) You must want to be there, because you will be there and be reading all the time e) You must love to read f) Always learn the right thing from your mistakes g) Don’t invest in the ten year old race horse h) Momentum investing is insanity 4) Qualities of a good Fund Manager a) Temperament b) Think of yourself, not afraid to go against the crowd; it can be very lonely to be going against the crowd c) Have a humble ego; be willing to admit you are wrong d) Have an open mind – Charlie Munger e) Be curious f) Be a hard worker g) If you are excited about work then it is not work h) Most important organ is not the brain but the stomach i) Must love to read...
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