Ep 386. Takeaways from Warren Buffett’s Shareholder Letter and Analyzing Ted Weschler’s Dillards Investment
Focused Compounding
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Buffett and the Lulu Business
I believe that they ran an arbitrage operation. Buffett would have been doing himself similar to what investment banks would do. They had some stuff with Acadia, which I think would have been similar to. The reets were just like trading below net tangible asset value type stuff. So probably very bang, gram type things,. maybe bordering on things like when we talk about AQR or something, that kind of stuff.
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