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Save The Date
January 2012
As previously announced, there will be a fourth edition of my Behavioral Strategies Conference here in New York on Friday, October 5, 2012, which is the Friday before the Columbus Day weekend.As previously announced, there will be a fourth edition of my Behavioral Strategies Conference here in New York on Friday, October 5, 2012, which is the Friday before the Columbus Day weekend. As more and more attendees seem to be making a weekend of this event--a decision we strongly encourage--a new feature of this year's edition will be a coffee hour for spouses that my bride has asked to put on, bless her. Enrollment procedures--first for previous attendees, then for other newsletter subscribers--will be announced in the February NMI. . . .
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The Tragedy And Triumph Of Bill Miller
January 2012
In 45 years in this industry, I've always thought that the noblest document I've ever seen was the fourth quarter 2005 shareholder letter by Bill Miller, the then-iconic manager of the Legg Mason Value Trust, which he sent out on January 26, 2006. . . .
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Macro Vs. Micro
Which Will Be The Story In 2012?
January 2012
The relentless drumbeat of this newsletter for well over a year (and maybe closer to two) has been the widening gap between the actual fortunes of the great companies in America and the world and their stock prices--a value rally for the ages. . . .
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What Kind Of Money
Are You Prospecting For?
January 2012
One of the many reasons that most advisors are mediocrities (beyond the statistical definition of the term) is that they are prospecting simply for more clients and AUM, and not paying enough attention to the long-term characteristics of the capital they are bringing aboard their Arks. . . .
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The Only Four Equity Portfolios An Investor Can Have
January 2012
Many or most financial/investment advisors--even some who subscribe to our philosophy of behavior management as a value proposition--still struggle for a way to explain to prospective clients what they can and cannot do, and what they are and are not charging their clients for. . . .
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Resources January 2012
January 2012
- The most delightful novel I've read in years is Justin Cartwright's Other ...
- Knopf will publish in January Robert Harris' novel The Fear Index; I snagged a ...
- Treat yourself to the film Margin Call, if you haven't already. This is by far the
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