Recommended Links

"Overconfidence is a very serious problem. If you don’t think it affects you, that’s probably because you’re overconfident." Carl Richards

"By the time any view becomes a majority view, it is no longer the best view: somebody will already have advanced beyond the point which the majority have reached." Friedrich Hayek

A legenday investor John Neff died last week. Here is 2002 Barrons cover article: John Neff's History Class. He also published really good book called John Neff On Investing.

Interview with David Samra - He is lead portfolio manager of the Artisan International Value Fund $APAM. He talks about $ABB, $HCMLF, $NVS, $UBS, $CFRUY.

Why Subscription Revenue Is Lifting the Enterprise Software Industry—And Investor Expectations.

While on the subject of technology I highly recommend the book Platform Revolution: How Networked Markets Are Transforming the Economy and How to Make Them Work for You by Geoffrey G. Parker

China, Leverage, and Values - by Ben Thompson

Claude Shannon: How a Genius Solves Problems

Merger Masters - The Art of Risk Arb

Harvard Business Review Disruption Starts with Unhappy Customers, Not Technology


Recently ShadowStock blog had a new post Buffet Would Buy this Specialty Retailer. If you are not subscriber i recommend you do so.

The post was about Tandy Leather Company $TLF.

I like this stock too. I will probably initiate a position in the next few days.

The company has no debt and has cash and cash equivalents of about $17m. The total market cap is about $50m.

$TLF is cash flow positive and there is new initiatives to further improve cash flow.

I do not like to repeat what has already been said in the article so i highly recommend reading it.

Jeff Gramm who wrote the book Dear Chairman has 30% ownership and i think highly of him.