Ideas

Research on the high-quality companies that are on our watchlist as well as actionable ideas as they develop.

Investment Journal

A database filled with our day-to-day notes on the investment ideas that we are currently working on.

Education

An expansive library of learning materials involving investment theory, case studies and a Buffett Letters series.

Watchlists

A look at our watchlists including our favorite businesses as well as special situations that we track.

Can You Guess How Much I Weigh?

“You don’t have to know a man’s exact weight to know that he’s fat.” – Ben Graham With this particular company, it is certainly tough to know exactly how much it is worth, but I have enough confidence to know that it is undervalued.  We did, however, want to get a...
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Hamilton is Non-Stop

Even though we started at the very same time Alexander Hamilton began to climb How to account for his rise to the top? Man, the man is Non-stop My daughter’s favorite Broadway play is Hamilton, but with prices around $600 per ticket (that’s not a typo), the soundtrack...
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Great Operating Business (check), Attractive Valuation (check), Catalyst (check)

Potentially the worst title ever (check). “I would have written a shorter letter, but I did not have the time.” Pascal Most people dismiss brief ideas out of hand. Charlie479 did a write up on VIC of NVR in 2001 that clocked in at 873 words.  The return since then is...
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Importance of Knowing Your Investment Boundaries (Sears Mini-Case Study)

Quick administrative note: I plan to post this write-up to the free blog later in the week, but I thought I'd also post this here for members as well. Matt and I plan to post around two posts each week (or somewhere around 8-9 posts each month) to this BHI Members...
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Berkshire Hathaway 1979 Letter: Unconventional View on Inflation

First off, as we reach the end of 2016, Matt and I want to sincerely thank you, the members of this site. This site got started as a side project that Matt and I thought would be fun, and while we are just three months in, we've personally found a lot of value in...
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Winning at Ping Pong and Investing

If your family is anything like mine, there will be a ping-pong tournament over the holidays.  Here is how to win….and these ideas may (or may not) apply to investing. First, don’t try to spin the ball.  Second, don’t try to hit the corners and finally, the ball...
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Huttig Building Products and the Housing Supply Business

Please note: this is an “investment journal” type post. These are more or less some thoughts of mine that I had while researching Huttig Building Products (HBP). Like many of the stocks I read about, it isn’t "actionable" (in my opinion). But the goal here is to share...
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Henry Schein: Good, but not Great

Henry Schein: Henry Schein is a good business at an average price.  It is a good business, not a great one.  However, it is a business I understand and with which I feel comfortable, so I find myself sticking around.   First, what does Henry Schein (“HSIC”) do.   1996...
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A Special Situation Tender Offer and Some Investment Strategy Comments

There are three main “buckets”, or categories of investments where most of the stocks I buy tend to come from: High-quality businesses with a long runway of opportunities to reinvest capital at high rates of return Durable, well-managed mature businesses that are...
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Be Cautious When Valuing “Sum of the Parts”

I'm going through a list of housing and real estate related companies (I'll share some notes on a few of these as I make my way through them). Real estate companies often lend themselves to evaluations that are focused on asset levels, and in some cases "sum of the...
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