Fall 2013
Graham & Doddsville, issue 19 · 32 pages
Page numbers are the ones your PDF viewer shows. Each one opens the PDF at that page; if your browser lands on page 1, scroll to the number. Open the full issue on Columbia's site ↗
Interviews
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p. 1 ↗
Guy Spier
Aquamarine Capital
Guy on going from Oxford and investment banking to managing money for friends and family, using checklists, cloning Mohnish Pabrai, his lunch with Buffett, and his position in Fiat.
Career advicePortfolio construction -
p. 1 ↗
Steve Feilmeier & Dave Robertson
Koch Industries
Koch's CFO and president on finding businesses that are great on their own and also fit into what Koch already runs.
Private equityJudging management
Student pitches
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p. 16 ↗
Long Homex 9.75% Senior Guaranteed Notes due 2020
By Peter Bowley
A credit pitch on Homex's dollar bonds at about 37 cents. Even with harsh downside cases, Peter needed only a 5% chance the notes kept performing.
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p. 18 ↗
Long Wabash National
By Adam Trivison
Trucking fleets underinvested in 2008 to 2010, pushing trailer ages to records. Adam saw the trailer cycle still in its early innings.
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p. 20 ↗
Long Active Network
By Wes Aull
Lower R&D once a new cloud platform was finished, plus better management, could expand EBITDA within a year.
Also in this issue
- p. 2 ↗Welcome letter