My Epiphany and Horrid Health, Having A Baby, Writing An Investment Book, And I Started A Business

As you probably know if you have been following this blog for any amount of time I have been trying to find enough funding to open up my own investment firm and I have also been sending out my information and stock analysis articles to a bunch of value investing firms to try and land a job at one of these firms in the meantime while I try to raise capital to open up my own firm.  I figure that I would need around $5 million in assets under management to be able to comply with all regulations, have my results audited, pay accountants and lawyers to make sure I stay in compliance with everything, and still have enough left over to make some money for myself.

Since I do not have a lot of rich friends, know a lot of rich people, and myself do not have anywhere near that amount of money, I had to put this goal to the side for the time being and will explain why below.

As you also know if you have been following this blog for any amount of time, I have alluded multiple times to some pretty serious health issues that I have not fully explained to you and will do so later in this post.  Over the past several months I have been pushing myself extremely hard, too hard as it turns out, to try to get as good as possible as fast as possible at evaluating, valuing, and analyzing companies to determine if they are a good investment, in the hopes of either opening my own firm, or getting noticed by a value investing firm and paid for my research.

Since the summer of 2004, the year before my senior year of high school, up until today I have been, and still on a daily basis deal with extreme dizziness to the point where I have not been able to have a “normal” job since shortly after I graduated high school.  Due to this I have also not been able to go to college and get a bachelor’s degree which I have found out is apparently a MINIMUM requirement to even being considered for being hired at most investment related firms so I have also had zero luck in finding an investment related job up to this point.  My dizziness has gotten quite a bit better over the years (Finally making some progress after almost 9 years of dealing with this) as I have found a couple wonderful doctors who have helped me out quite a bit, but I still need to get over a few humps to get more towards “normal” or at least for me normal health, whatever that may end up being.

Due to me pushing myself to learn as much as possible as fast as possible relating to investing over the last several months I appear to be pushing myself too hard as I have gotten sick/flu/sinus infection/etc 5 or 6 times in the past 5 months or so.  These colds/infections  exacerbate my dizziness while I am sick and makes my dizziness worse than normal for at least a week or two AFTER I get over whatever sickness I have had, so for the past 5 months or so I have felt pretty miserable almost the entire 5 months.  This is one reason why you have seen a slowdown in my blog postings and stock analysis articles over this time period.

A different doctor that I saw has not found any reason why I keep getting sick so I figure it must be because I have been pushing myself so hard lately.  At the recommendation of ValuePrax for something investing related, and completely unrelated to the sickness situation, I read The Four Hour Work Week by Tim Ferriss, which I highly recommend especially for those who are skeptical like I was about pulling this kind of thing off and who wants to be an entrepreneur.  The book is amazing and I highly recommend everyone read it but the main part of the book that I want to talk about here that relates to my health issues is a part of the book where he says you should evaluate how you spend your time to see what you can cut out to become more efficient.  After looking over how I have been spending my time over the past several months I believe I have found the main reason why I keep getting sick, I have been pushing myself WAY too hard.

It turns out that since I dedicated myself to learning and becoming a true value investor in February of 2012 that between taking care of my now 2+ year old daughter full time and learning about investing, evaluating, analyzing, valuing, and writing about companies, I have been working around 100 hours a week for almost a year straight now, or the equivalent of 2.5 full time jobs!  Since I cut out free/relaxing/video game/watching sports, etc time to learn as much as possible as fast as possible literally the only free time I had where I wasn’t trying to learn something, take care of my daughter, or recovering from being dizzy was when I was sleeping.  Not exactly a healthy lifestyle apparently.

The last time I pushed myself like this was shortly after the dizziness started.  I kept trying to do the normal things I used to do at the time: Finishing high school, hanging out with friends, running track, working out, and combined with working a full time job at the time and having a girlfriend who is now my wife.  After having to go to the ER because I was so dizzy I fell down when I was at work and couldn’t walk without falling, I realized that I pushed myself too hard.  I ended up making my dizziness so bad that for a period of literally 2 or 3 straight years I could do literally nothing except lay around and watch TV because I felt so horrible all the time.  Since I do not want to feel that horrible again and set myself back like that, especially considering how much better my dizziness has gotten since then, I realized I needed to change course before I did that to myself again.

Using some of the techniques in the Four Hour Work Week I started to brainstorm business ideas and ways to start making money for my family but also lowering my hours worked dramatically in the hopes to stop getting sick all the time and putting off any kind of massive deterioration in my dizziness like what happened before.  The first idea was to write an investment book.  I have already shared the idea with a couple investors who have had investing related books published, gotten some feedback, changed some of my original thoughts, and they think that if I can write the book properly that the idea is good enough and unique enough to potentially be picked up by a publisher and fully published, not just self published by me!  Up to this point I have written the outline that still needs to be tweaked a bit, the introduction, and five full chapters.  I do not know when this will be done because of the business my brother and I have started which I will talk about below but I think that I can help a lot of newer and intermediate level investors and hope to have the transcript finished as soon as possible.

The second idea was something my brother and I have been kicking around for a while now and we decided to go for it.  My brother and I have started what is called a managed service provider, MSP, computer business to monitor local small businesses computers; do data back-ups, eliminate viruses, spyware, and malware, etc.  Make sure their servers, computers, and computer networks are working properly and keep them working properly and to help the particular businesses become more profitable due to saving them a lot of money, enabling them to have less or no down time, and having a lot less computer related headaches they have to deal with.  Our company is called Black Hills Tech Solutions.  If anyone is interested in this business please visit our website which I have linked.  We do not have any clients as of this time but once we start getting clients we will be making pretty good money and helping companies out by saving them a lot of money, time, and frustration.  If we do things right this will also enable me to work less once we get things rolling due to automation.  My brother is handling the computer and tech side of things and I am handling the business/marketing/sales side of things at this point.

The main reason I had to make a change in what I was doing on a daily basis was because of my horrid health.  The other major reason I had to change course was because frankly I am tired of not being able to make money for my family and I needed a way to make money sooner rather than later.  Why do I need to make money sooner rather than later?  Well besides the fact that I just want to start making my family money and not being able to due to my health reasons up to this point, we have another baby on the way which is very exciting but also expensive, and I want to contribute monetarily to my family.

Due to everything above I will probably post only every once and a while on this blog for the foreseeable future.  My hope is that once we start getting clients at our business and automate things properly is that I will be able to resume this blog on a more regular basis and start researching companies again as this is still my passion.  I also hope that writing this book and starting this business will make me enough money and gain me enough contacts that I will be able to open up my own investment firm sooner rather than later and resume my passion of searching for undervalued companies to buy into on a full time basis.

You all know that I am not a macro guy at all, but another reason I thought this was a good time to change course for a while was because how crazy the market is getting.  It seems to keep going up for absolutely no reason at all and I fear that there will be a major crash at some time in the near future.  Due to the starting of the business, saving up for baby, and my fear of an impending market crash, I have sold all of the stocks in my personal portfolio to help fund me and my brothers business start up and to put some money in savings in preparation for the baby that is due in late October.  The people that I manage portfolios for are sitting around 40% cash right now. Again my hopes are that I will start making some pretty good money relatively soon from the book and business that I will be able to open up my own investment firm relatively soon.

At this time I will urge anyone who is interested in contributing to this blog to please let me know as I am still very interested in having people write while I am working on some of the above things and if possible would like to keep the blog active until I can start writing on a more regular basis again.

I apologize that I have to take some time off from this blog due to my health issues but I do not want to go back to where I could literally do nothing for 2 or 3 years because I felt so horrible all the time. I am deeply saddened by this necessary step away from my passion of value investing but also excited at the same time for the ventures I will be concentrating on for the foreseeable future.

I want to thank you all so much for reading, I appreciate it so much and I hope you continue to read while I concentrate on these other ventures.  I hope to continue writing and researching companies as soon as physically possible.

Again, I would really love to keep content flowing on a somewhat regular basis so if you personally or you know anyone who would want to contribute to the blog it would be very much appreciated and please let me know.

Article Update and Weekend Reading Links

I have finished up all three articles in my now shortened series and will proofread and do some light editing over the weekend and post them as soon as possible after I am able to acquire the shares I want.

Psy Blog-How Long To Form A Habit.

Hardcore value-Amazon, Apple, and The Beauty Of Low Margins.

Distressed Debt Investing-One Of Warren Buffett’s Greatest Trades.

CSInvesting-Video Lecture Course On Security Analysis and The Intelligent Investor.

Share Sleuth-Finding Hidden Debt.

Can’t Eat Value’s Blog-What’s Your Investing Edge.

Oddball Stocks-Value Momentum, Speculating On Recovering Net Nets.

The Equity Desk-Benjamin Graham: An Investing Legend.

Ragnar Is A Pirate-Fraud, Bankruptcy, and Ethanex.

25iq.com-Charlie Munger On The Psychology of Human Misjudgement.

Basehitinvesting.com

Wexboy-Why I Write…

The Globe and Mail-Article By GreensKeeper Asset Management Principle Michael McCloskey.

Distressed Debt Investing-My Three Favorite Quotes From Baupost’s 2012 Year End Letter.

Graham And Doddsville-Legacy Of Benjamin Graham.

Wexboy-The Great Irish Share Valuation Project Part IV.

GuruFocus-Answers From Tom Gayner’s Interview With Guru Focus.  Thanks for the link Obtuse Investor.

Sahara Investing-Triyards Holdings.

World Financial Review-Repeatability: How Companies Create Enduring Businesses In A World Of Change.

CSInvesting-More Valuation Case Studies.

An Update, New Translation Page, and Links

As you might have noticed at the top of the page is now a translation page where you can translate the entire blog into many different languages.  I found something similar to this a few days ago but could not get it to work on the blog so I enlisted the help of my brother and he got the translation page working, thanks a lot Kev.  This also means that the short-lived Mandarin Value Investing Journey is also not now needed and will be going away.  I am sure the 20 of you who visited the mostly untranslated site will miss it dearly :).

A quick update on where I am at with the process of my article series.  I have now finished up the first two articles of the series and as you know I had planned to write articles on one or two more companies and then do a conclusion article.  Two of the companies I was planning on writing articles on I have been asked not to by the person who recommended them to me because he is planning on writing articles about them.  I am still going to read those companies annual reports and other filings but will not be writing articles about them so this has turned into a three-part series covering the two companies I have already written articles about and the conclusion article where I decide which of them to buy.  I will hopefully have the whole series posted as soon as possible.

“Things do not happen–they are brought about by careful planning, diligence, application, and direction.”George Mecherle, Founder of State Farm Insurance.

Valueprax-This One Is Personal.

25iq.com-Charlie Munger On The Importance Of Worldly Wisdom And Consistently Not Being Stupid.

CP-Africa.com-Meet 31 Year Old Ashish Thakkar-Africa’s Youngest Billionaire.

OTC Adventures-International Wire Group Is Cheap, But Is It Safe (ITWG)

Valuewalk-Baupost Group’s Seth Klarman Sees “50 Shades Of Value” In The Market.

Valueinvestingblog.net-CASA Holdings and Fiamma Holdings.

CSinvesting-A Reader’s Question On Case Studies.

Santangel’s Review-Benjamin Graham On Staying Small.

Motley Fool-Charlie Munger Info From A Board Poster.

Valueprax-Notes-Nintendo Back In The Saddle?

CSInvesting-Valuation Case Study HVAC.

OTC Adventures-Value Investing Strategy and Unlisted Securities Part 2.

CSInvesting-ValueUncovered Philosophy; Treat Everything As A Case Study.

Wexboy-2013: The Great Irish Share Valuation Project Part 2.

Credit Bubble Stocks-Horizon Kinetics, Owner Operators, and the Predictability Arb.

Catching Up On Some More Links

Farnam Street-The World Is Much More Interesting Than Any One Discipline.

Wexboy-Tetragon Ready To Be A Star.

Sahara Investing-The Luxury Goods Market.

Oddball Stocks-Thoughts On Quantative Value Investing.

Valueinvestingblog.net-Investing In Japan: Late To The Party.

Valuewalk-Insurance Companies, Where Buybacks Are Key: Travelers.

Farnam Street-Mastery.

OTC Adventures-Value Investing Strategy And Unlisted Securities Part 1.

Whopper Investments-The Best Values Are Over The Counter Stocks So Is $OTCM A Great Value Too?

Ragnar Is A Pirate-Changing 13D’s At Trinity Place Holdings.

The Aleph Blog-On Insurance Investing Part 2.

Quotations Page-Persistence Quotes, my favorite is the Calvin Coolidge One:

Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘Press On’ has solved and always will solve the problems of the human race.

Absoutely love that quote.

Mises.org-Cartman Shrugged: The Invisible Gnomes and The Invisible Hand In South Park.

CSInvesting-The Secret To Investing Success (Munger Tip).

Valueconferences.com-Adib Motiwala: Your Instructor At Small Cap Investing Summit 2013, hour long interview.

Updates, Looking For Anyone Who Might Want To Write A Guest Value Investing Article or Articles, And “Becoming So Good That You Cannot Be Ignored”

As you know over the past couple weeks I have been doing in depth research on a company and written an article that I planned to post on Monday.  I have several other companies I want to research and since in my personal account I am unfortunately fully invested at the moment, I need to make the best possible buy decision of the companies I am looking into before deciding which one(s) to buy into and came up with an idea today.

When I first started my blog and posting articles on Seeking Alpha I did a series of posts on Dole, Chiquita, and Fresh Del Monte comparing them and figuring out which one was the best buy at the time.  I have wanted to do another series of posts like that for a while now and decided that this is a perfect opportunity to do that.  Up to this point I have completely finished up one article, done a lot of research and probably will start to write an article on the next company next week some time, and have at least one for sure and maybe another company I want to do research on and write full articles on after that before I make my final buy decision(s).

As you might expect with the amount of research I do this process and my posting of articles may take a while so this is where I ask for some help from you.  While I am researching and writing my articles I am still going to keep posting links, but would like good content to keep flowing at least somewhat regularly on the blog while I am concentrating on researching and writing.

I am looking for anyone who would want to contribute an article, or articles, to be posted as guest posts on this blog.  I will give you full credit for the entire article and write an introduction introducing you a little bit to get you some recognition.  You will retain full ownership of the article and can post it anywhere else that you like.  I would really like to have newer investors who may want to start a blog some day but for some reason haven’t, to submit any write ups you might have to get you some recognition and some feedback on your articles so you can learn faster.  I wish I would have started writing my ideas down in depth a lot sooner because as I have talked about before I am shocked by how much better I have gotten just since last June when I stated this blog. I will consider any articles as long as it is a VALUE based investment idea, if it is of good quality, if it is your original written and researched idea, and you do not already have a blog.  Sorry value bloggers but I want to help new investors or people who do not have a blog already get better and get some recognition.

I do not care if you have just started out investing (Would actually prefer newer investors to get you some recognition and to help you learn faster) or have been doing this for years and may not have a blog but you would like to post something here to get a taste for blogging.  As long as I think the article is of good quality, you show some passion, and want to get better as an investor I will consider any article submitted.  The article does not have to be as in depth or as long as my articles either.  If you have multiple articles you would like to submit you are more than welcome to submit as many as you like.  I know that I am a bit weird in welcoming public criticism of my articles but it helps me learn faster.  To alleviate some of this concern I will also help you out by reading the article before posting it on this site and sending you an email with any thoughts, feedback, or advice I might have and keep them private just between us since I know a lot of people are afraid of public criticism, especially beginners.

As you know if you have been following the blog for any length of time one of my other passions is bettering education and helping others out as much as possible because of all the advice and help I have received from others online.  I have been thinking about this for a while and have finally decided that this is a good time to start this program and I hope a lot of you submit articles.  This is also going to become a regular thing so if you come up with an idea a month or months from now that you would like to submit for publishing please feel free to submit it.  Again, I would highly encourage especially newer investors and investors without blogs to submit articles not only for the recognition, but the sooner you start writing your investment ideas down the faster you will get better.

For any questions or if you would like to submit an article email me at my email address provided in the Contact Me page above and I hope to hear from many of you very soon.

Another quick update is that last week I received an email from the Value Investor’s Club about my application and that I had been rejected for admission to VIC again.  Once again this just serves as further motivation (As if I didn’t have enough already) to keep learning and getting better. On a side note Whopper Investments posted on Twitter that he has been accepted into the Value Investors Club so a big shout out and congratulations to a fellow value blogger for this impressive accomplishment.  I have heard that VIC accepts fewer than 10% of all applications received, I know most of the people on VIC are professionals, and I know of at least a couple individuals who have had their funds seeded by Joel Greenblatt (The founder of VIC and world renowned value investor) so getting accepted into VIC is a huge goal for a lot of us value investing bloggers and it is extremely impressive to get accepted.

I have always been the type of extremely competitive and self motivated person where I always pushed myself so hard (sometimes too hard and I have occasionally paid for it with health problems) to get better at whatever I was doing.  A couple examples are that 1) I remember when I was a teenager mowing the lawn and that I would time myself just to see if I could mow the lawn more efficiently and faster.  Not so I could go play sports, hang out with friends or a girlfriend, or do whatever else I was doing at the time, but just to get better at it. 2) When I worked at Burger King in high school, even if I was just washing dishes I always tried to figure out ways to get faster and better at it, even timing myself doing this as well.  This is how driven, some would say crazy including probably my wife, lol, I am about everything I do and when I saw this quote from Steve Martin it really resonated with me. Emphasis is mine.

“Nobody ever takes note of [my advice], because it’s not the answer they wanted to hear,” Martin said. “What they want to hear is ‘Here’s how you get an agent, here’s how you write a script,’ . . . but I always say, ‘Be so good they can’t ignore you.’ “

The article is from Lifehacker and you can click here to read the whole article about becoming a “craftsman” and how Mr. Martin went about becoming a comedic craftsman.  So my new favorite quote and goal as it pertains to me getting a job in the investment world, opening my own firm, learning Mandarin, or whatever else I do is to become so good at it that I cannot be ignored.

I will post some more links over the coming days as I have gotten way behind in sharing some of the sites I have been learning from and think that you could possibly learn from, and I hope in the mean time to see that a lot of you have submitted articles to be posted on the blog.

Catching Up On Links

I have just finished up my newest article and just need to edit and proofread a bit more and hope to have it up soon.  Over the next few days I will be posting a bunch of links since I have gotten way behind on this while researching other companies, hope you enjoy.

Yahoo-Business Insider-The Story of a Man Who Outsourced His Work To China So He Could Watch Cat Videos All Day.

Forbes-The Great Baupost Madoff Claim Trade That Made a Big Madoff Feeder Fund a Loser Again.

Oddball Stocks-More is Better? How Much Information is Really Needed To Invest?

Four Hour Work Week-How to Travel Through 20+ Countries With Free Room and Board.  Cannot vouch for this yet as I have not tried it and it seems a bit sketchy to me but if it really works and is safe that is a potentially great idea for travelers.

Wexboy-Where Is the Credit Opportunity in 2013?

Shadow Stock-Illiquid Stocks For Outsized Returns.

Old School Value-The Harder You Work The Luckier You Get.

Rodkelly.com-30+ Quotes From Charlie Munger.

Outward Branch-Heart To Heart With Value Investor Theodor Tonca.

Business Insider-China Hard Landing Presentation. What If China Land’s Hard?

Some Links For The Week

Motley Fool-Monish Pabrai’s Lunch With Buffett and Munger.

Value Investing Blog-Alpha Pro Tech And The Value Of Optionality.

Cant Eat Value-Why You’re Undervaluing Good Capital Allocation.

Student Of Value-Investment Analysis Of Quality Products $QPDC The Mysterious.

Zero Hedge-Guest Post: A Short Lesson In Bad Decision Making.

The Daily Beast-Don’t Go To Business School!

Wexboy-The Great Irish Share Valuation Project (Part 1).

Oddball Stocks-CIBL is Undervalued Again, Is The Valuation Gap Enough?

Business Insider-Vitaliy Katsenelson Presentation On Why The Market Will Move Sideways For Another Decade.

Distressed Debt Investing-The High Yield Market “Is Completely Out Of Control”.

Philip Beeching-Why Companies Fail–The Rise And Fall of HMV.

Value Walk-Charlie Munger And The Art Of Stock Picking.

Sahara Investing-The Hour Glass.

OTC Adventures-Great Lakes Aviation Is Not Your Typical Airline $GLUX.

Grizzly Rock Capital-Why Selling Methodology Differs For Average Versus Great Companies.

Seraphin Group-When Do I Sell Stocks? Drawing Wisdom From Buffett To Zuckerberg.

CS Investing-Reading On Moats And Competitive Advantages.

Whopper Investments-Why Is Buying A Rising Stock So Hard?

Guru Focus-Geoff Gannon On How To Learn Everything You Need To Know About A Stock.

25iq.com-Charlie Munger On Investment Concentration Versus Diversification.

How To Value Float, Book Recommendation, And An Update On What I Have Been Doing Including Info About The Potential Investment Firm I Plan To Open

More Float Info and a Book Recommendation

While I was beginning to write my UNAM article I realized that of all the learning I had done about float, I had not learned how to value it.  Below are some more sites that I learned from while I was putting my article together on how to evaluate and value a company’s float.  Some of the information and valuations made it into my UNAM article and a lot of the other stuff made it into my written notes.

Personally I would put these links on about on par with some of the other information on float I have learned about and posted on the blog from the Fundoo Professor and others, and I hope you learn something from them as well.

I cannot recommend The Davis Dynasty highly enough.  I wish I would have known about this book and read it when I had first started learning about investing and would put in on the same level as The Intelligent Investor, Security Analysis, Margin of Safety, and You Can Be a Stock Market Genius as some of my favorite investment books.

The Davis Dynasty is a book about the Davis family starting with the older Shelby Davis who started with $50,000 in investment funds almost at the age of 40 and turned it into approximately $900 million by the time he died.  His son and grandsons are now continuing his investment legacy and have continued to compound portions of that money still to this day, or at least when the book was published.  The book goes over the general family and investment philosophies and how they made so much money.  The older Shelby Davis made his money mostly with insurance stocks.  The younger Shelby Davis made most of his money with a mixture of financial, insurance, and other stocks.  The grandsons have continued the overall philosophy but have expanded out from the so called boring insurance stocks.

Again, I cannot recommend this book highly enough.

I have started to read The Farmer From Merna about how State Farm Insurance was started to continue gaining knowledge about the insurance industry.  After I finish this up I plan to look for another company to research.

Some Other Things I Have Been Up To

  • I am still learning Mandarin and at this point I have learned probably somewhere north of 2000 words or close to that.  Still amazing and I think this will definitely help me at some point down the road.
  • Nate (Oddball Stocks) and I were having a conversation a while back about how he read French value investing blogs to help him learn French faster so I decided to try to find some investing blogs that are in Mandarin to help me learn faster.  However, up to this point I have had only minimal luck so I have instead turned my latest article on UNAM into completely Mandarin text and thought I would try this out to see how this works.
  • I got some pretty good news from my lawyer friend about opening up the potential investment firm that I mentioned almost a month ago.  So far no concrete updates and I still have some more calls to make and digging to do, but at this point it looks like nothing should prohibit me from opening up a small investment firm.
  • I have started some work on an investor’s presentation so that when I do figure out things for sure I am ready to start contacting friends, family, and local wealthy people to see if they would like to invest.
  • I have been trying to get myself out there more still in the hopes of getting some kind of job offer, even if it is just someone who wants to pay me for my investment ideas until I open up the investment firm, so I have reapplied to the Value Investors Club.  Last time I applied I had to wait a few weeks to see my rejection letter.  Applied to SumZero and have already gotten an email back from them saying that because I do not have hedge fund/investment firm experience that I cannot join their site.  Started putting my articles on Guru Focus and my Brazil Fast Food article, the first article I have posted to GF, was named an Editor’s Pick.  So far nothing in the way of job offers but people generally say that they like my work a lot and that I do a really good job of laying out my analysis. I have a couple ideas that I may share in the coming weeks about some other ideas I have in this area as well.

Right now I am going to be finishing up The Farmer From Merna, then find another company to research, and keep doing the stuff above.  I will also probably post some more links here shortly.

Weekend Reading Links

I have just finished up my latest article and only need to proofread a bit more and I plan on posting it on Monday.  Until then I hope you enjoy the links.

Oddball Stocks: Argo, an Undervalued Asset Manager With Potential Catalysts.

Wexboy: Another Assault on Fortress.

Theodor Tonca: Bank Analysis Template.

Whopper Investments: Do Bullish Bloggers Have Negative Consequences?

Wexboy: Heading Into 2013.

OTC Adventures: Quality Products Inc, QPDC.

Walrus Value: Lance Armstrong And Why Superior Corporate Results Deserve Skepticism.

Ragnar Is A Pirate: Where Food Comes From, WFCF.

Hardcore Value: Vintage Buffett On Mistakes.

Charlotte Observer: Charlotte Student Launches Hedge Fund.

Sahara Investing: Kingsmen Creatives.

The Globe and Mail: Scary Beats Safe In Realm of Cheap Stocks.

Motiwala Capital: Q4 2012 Letter to Clients.

Oddball Stocks: How I Passed On Costar.

OTC Adventures: Tropicana Entertainment Is The Cheapest US Casino Operator.

Weekend Reading Links

Oddball Stocks-What’s Your Real Business? The National Stockyard Story.

Geoff Gannon Guru Focus-Always Use Normal Numbers.

Shares and Stock Markets-How To Value A Business Like A Professional Money Manager.

The Aleph Blog-If You Want To Be Well Off In Life.

The Meta Picture-Learn To Read Korean In 15 Minutes.

Geoff Gannon Guru Focus-What Is The Best Way To Learn Accounting?

Oddball Stocks-Investing Like A Lender.

Graham And Doddsville-The Value Investing Gene-Buffett, Klarman, and Evolution.

The Guru Investing-Small, Illiquid, and Cheap: A Winning Combo.

Greenbackd-Quantative Value: A Practitioner’s Guide To Automating Intelligent Investment and Eliminating Behavioral Errors.  Have not read the book yet but plan to.

Micro Cap Club-Alter NRG Corp: Disposition Case Study With Ending Unknown.

Businessweek-Ryan Morris, 28-year-old Activist Investor.

Gannon And Hoang On Investing-My Investment Process.

OTC Adventures-Calloway’s Nursery $CLWY.

Aswath Damodaran Musings On Markets-Acquisition Accounting II: Goodwill, More Plug Than Asset.