Fall 2011

Graham & Doddsville, issue 13 · 34 pages

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Interviews

p. 1 ↗ Leon Cooperman Omega Advisors Starts on the cover, continues on p. 2
Lee looks back on his career from Goldman to Omega, explains how the firm builds its portfolio, and lays out top ideas including Sallie Mae, Transocean and Boston Scientific.
Companies: Sallie Mae, Transocean, Boston Scientific Portfolio construction Career advice
p. 1 ↗ Mario Gabelli GAMCO Investors Starts on the cover, continues on p. 12
'Think like an owner.' Mario on his approach to security analysis and his interest in Beam, National Fuel Gas and Madison Square Garden.
Companies: Beam, National Fuel Gas, Madison Square Garden Special situations Deep value
p. 1 ↗ Marty Whitman Third Avenue Management Starts on the cover, continues on p. 20
Third Avenue's founder and a CBS adjunct in distress investing on where he saw opportunity, how he values companies, and some of the firm's best investments.
Distressed Deep value
p. 25 ↗ Eli Rabinowich
An alumni profile: how Eli chose Columbia for its value investing tradition and what came after.
Career advice

Student pitches

p. 29 ↗ Long Great Lakes Dredge & Dock By Philip O'Brien 2011 Sonkin Prize, winner
An 80% margin of safety on what it would cost to rebuild the assets, plus high barriers to entry and a dominant position.
p. 31 ↗ Long Madison Square Garden By Michael Yablon 2011 Sonkin Prize, winner
Better core businesses and an underrated payoff from renovating the Garden.

Also in this issue

p. 2 ↗Welcome letter