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[1940] Ch. 21 SUPERVISION OF INVESTMENT HOLDINGS
10 months, 2 weeks ago

TLDR: The traditional idea of permanent investment is being challenged due to the need for constant supervision of securities. US Savings Bonds are a good option for fixed-value investment, but other options may be necessary for institutional investors or those with moderate income from investment…

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[1940] Ch. 19 PROTECTIVE COVENANTS (Continued)
10 months, 2 weeks ago

TLDR: Protective provisions in bond issues, including equal and ratable security, and prohibiting new prior liens, are important for added safety. Working capital requirements and penalties for nonobservance are suggested for industrial bond indentures. Investment trust bonds require protective p…

0 Security Analysis
[1940] Ch. 18 PROTECTIVE COVENANTS AND REMEDIES OF SENIOR SECURITY HOLDERS
10 months, 2 weeks ago

TLDR: The chapter discusses provisions to protect bond and preferred stockholders, remedies for nonfulfillment of a company's obligations, and recent laws to speed up the readjustment process for insolvent companies. The article highlights the contradictory legal rights of bondholders, the tendenc…

0 Security Analysis
[1940] Ch. 16 INCOME BONDS AND GUARANTEED SECURITIES
10 months, 3 weeks ago

TLDR: The article discusses income bonds as a financial instrument with less discretion than preferred stocks, often issued during corporate reorganizations with poor credit standing. It also highlights the importance of guarantees in fixed-value investments and how joint and several guarantees of…

0 Security Analysis
2023 Charlie Munger Daily Journal Annual Meeting
11 months, 2 weeks ago

TLDR: Charlie Munger, during the Daily Journal Shareholders Meeting, talked about his investment strategies and criticized Jack Ma, while expressing disagreement with President Biden's policy on stock buybacks but approving Berkshire's own strategy. In other interviews, Munger shared insights on co…

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2022 Charlie Munger Daily Journal Annual Meeting TLDR
11 months, 2 weeks ago

Charlie Munger, Vice Chairman of Berkshire Hathaway, expressed confidence in the company's investments in Chinese firms and warned of potential excesses in the stock market, cautioning against the speculative element. He dismissed cryptocurrencies as a "venereal disease" and highlighted the need fo…

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Meta Q4 2022 earnings call TLDR
11 months, 3 weeks ago

During Meta's fourth quarter and full-year 2022 earnings call, CEO Mark Zuckerberg outlined the company's priorities, including AI, ads, business messaging, and the metaverse. The Year of Efficiency is Zuckerberg's management theme for 2023, focused on executing these priorities, building better pr…

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Amazon Q4 earnings call TLDR
11 months, 3 weeks ago

Amazon.com reported worldwide net sales of $149.2 billion, a YoY increase of 12%, excluding forex impacts, during its Q4 2022 Financial Results Teleconference. The company also reported a net income of $278 million, including a pretax valuation loss of $2.3 billion from its common stock investment …

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Netherlands to restrict some chip tech exports
11 months, 3 weeks ago

TLDR: The Dutch government has followed the US in placing restrictions on exports of the country’s “most advanced” microchip technology to safeguard national security. Dutch chip equipment manufacturer ASML is a key supplier to the global microchip market, and the restrictions have prompted a forma…

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Adidas Kanye West's Yeezy shoes 'collectors' items
11 months, 3 weeks ago

TLDR: US shoppers are buying Kanye West's Yeezy shoes as collector's items since Adidas ended its partnership with the rapper over anti-Semitic comments he made last year. The US-based shoe chain Impossible Kicks has reported a 30% boost in sales since the two split last October. The retailer has s…

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