- Buffett's got $35 billion in cash to go a-shopping, and thinks Europe is more promising than the emerging markets - partly because Europe is already in recession.
- Have European companies endured because many have remained family-owned? Is the Anglo-Saxon model of capitalism too erratic and destructive?
- How important are hunches in investing? Lynn says, "Buffett doesn’t believe in extended due diligence or complex financial models. He chooses his investments based on what he feels about the people in charge, and whether he likes their products." And recently, George Soros said that for all his research, he pays attention to his own psychosomatic backaches.
- How much vital business information is conveyed - or betrayed - by tone of voice and body language? Mark McCormack said that he liked to go to meetings on his own, so that he wouldn't have to worry about unconscious non-verbal signals given away by an underling's reactions. For the same reason, he loved the opposition to come with company. Is the most important bit of investment reserach the site visit?
Saturday, June 07, 2008
Buffett eyes Europe
A most interesting article by Matthew Lynn in this week's Spectator. It's certainly worth reading in full, but here's a few points and questions arising: