Bolstered by a large investment portfolio, Charlie Munger is determined to complete the transformation of a small newspaper publisher into a significant…
A collection of PDF and Excel downloads for all write-ups

December 2022

This profile examines the third largest private passenger auto insurer in the United States with a focus on its rivalry with Berkshire Hathaway's GEICO…

November 2022

This profile examines a leading industrial distributor with a multi-decade record of strong performance.

October 2022

In this profile, we examine Costco's impressive track record and consider whether future growth prospects are likely to justify today's lofty valuation.

September 2022

Operating efficiency gains and aggressive repurchases have delivered attractive returns to shareholders over the past decade. Will these trends…
A small manufacturer is massively overcapitalized but controlled by the founder's family. Minority shareholders can go along for the ride but may never…

August 2022

A review of Berkshire Hathaway's twelve years of ownership
CarMax shook up automotive retailing in the 1990s. Will the company face disruption by online competitors in the 2020s?

July 2022

Remote work appears to be here to stay. Many affluent Americans are migrating from crowded metropolitan areas to exurbs and rural areas boosting the…

June 2022

A strong regional competitor with a fifty-year history
Serving the subprime used car market