Perhaps the most remarkable thing about Berkshire Hathaway is not the extraordinary wealth that the business has created for its shareholders, although those fortunes are certainly remarkable. What is perhaps most impressive about Warren Buffett and his right-hand man, Charlie Munger, is that they have made no secret about what they do and why they do it. Buffett tends to attract most of the credit, but it is his friend and associate Charlie Munger who is arguably the more cerebral and articulate of the pair. Munger is especially fond of reading. While we can learn from our own experience, he points out, it is a far more efficient use of our time to learn from the hard-won experiences of others. Reading assists that process. Reading books, he observes, is like conversation with the finest minds of past centuries. And he's typically self-deprecating about it.
by Evil Diaries| Evil Diaries |2 mins. to read Acacia (LON:ACA) is down again this morning on the supposed news that ACA has been fined $190bn for tax evasion in Tanzania. This compare with ACA's capitalisation at well under $1bn. However, I have read that, possibly, the RNS is incorrect in that the fine is in fact in Tanzanian shillings.
by Nick Sudbury| Funds |2 mins. to read Buying an investment fund is unlike almost any other purchase you will ever make as you are not told upfront how much it is going to cost you. The best available estimate is the 'ongoing charges' figure, which is disclosed in the associated literature, but it does not give you the full picture.
Material contained within Master Investor Magazine and its website is for general information purposes only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decisions. Master Investor Ltd. does not accept any liability for any losses suffered by any user as a result or any such decision.
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