ABH: With market down again on Friday, and ABH down as well, I have begun adding to my few shares.
Interesting (to me) article about Francis Chou of Chou Associates: (He holds a relatively large position in ABH.)
"Chou Associates Management Inc., a Toronto based mutual fund headed by Francis Chou, manages $800 million in assets...Mr. Chou is widely regarded as a Canadian investment giant. A business acquaintance of Mr. Prem Watsa of Fairfax Financial, another Canadian investment veteran, both Mr. Chou and Mr. Watsa immigrated to Canada from India. Mr. Chou famously, with just a 12th grade education, worked as a telephone repair man and technician for seven years at Bell Canada and came across Ben Graham’s Security Analysis in the late 1970s. He started an investment club with seven co-workers and $51,000 in capital and by 1986, it had grown to $1.7 million when the investment club was converted into a mutual fund, Chou Associates."
=====================
If this guy can do it, one or more of the new guys here (or those here with still enough of a lifespan left) ought to be able to get this kind of success too, it would seem. =g=
Maybe some here are-- 14% compounded rate over 15 or 15+ years. Having a concentrated position surely helps that, IF those picks are chosen correctly and held until they work out. (Six or seven year implied holding period for Mr. Chou).
seekingalpha.com |
