Quick note: For those attending the TD Ameritrade conference in January, if you want to hear me speak on the new shareholder yield research, vote for my session here!
Long time readers know how much I believe in studying other successful investors for insight into their processes. After all, the intro quote for The Idea Farm is:
“I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting there and trying to dream it up all yourself. Nobody’s that smart.” – Charlie Munger
I’ve been tracking hedge fund holdings since 2000 through 13F filings, and helped out in the startup phase of AlphaClone. Looking over the shoulder of Buffet, Klarman, Eveillard, etc. is a wonderful way to learn about investing, as well as find a few gems in the process.
Below are a few publications from John Heins and Whitney Tilson at Value Investor Insight. The have a monthly publication (VII), as well as a quarterly one (SII) that detail what these top investors are up to. The best part about the letters is that they not only present the ideas of these top managers, but often the rationale and analysis behind their picks.
Here are a few pieces from the newsletters:
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First, a few fun quotes:
Here is a screen of the largest new buys from somw top hedge funds including Viking, Lone Pine, Third Point, and JANA:
(click to enlarge)
and the largest holding of some of these funds (though my research has shown that is not the best way to track their best ideas…):
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Download the PDFs here:
Value Investor Insight Nov 2012
Super Investor Insight Nov 2012
Website
http://www.valueinvestorinsight.com
http://www.valueinvestorinsight.com/superinvestorinsight
About
Created by money manager Whitney Tilson and media executive John Heins, Value Investor Insight has a straightforward goal: To deliver the highest-quality investment ideas, analysis and insight to professional and sophisticated investors.
At the core of Value Investor Insight is the philosophy of the true value investor: buy something only for less than its intrinsic worth. This credo has more than stood the test of time. According to independent investment firm Ibbotson Associates, value investing has out-performed growth investing by nearly 5 percentage points per year since the market bottom of June 1932. As Warren Buffett’s long-time partner Charles Munger puts it, “All intelligent investing is value investing.”