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Acquired cover image

Berkshire Hathaway Part I

Acquired

NOTE

Graham Newman Partnership and the Conflation of Fundamentals and Value Investing

Gika's investment in the Graham Newman Partnership was atypical./nGraham's strategy was focused on value investing and fundamental analysis./nGraham conflated fundamentals with value investing, leading to ongoing debates between value and growth investing./nGraham believed in a specific approach called cigar butt investing, which involved finding undervalued assets./nCigar butt investing is analogous to finding discarded cigars on the street and picking up the remnants for free.

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