Fund managers are generally happy to share their views. Their letters are often a great source of investment wisdom. While Buffett’s Berkshire Letters get the lion’s share of focus, many other fund managers provide valuable insights for investors.
I wrote about Howard Marks of Oaktree yestersay. That is his first letter that I have read and I look forward to reading more.
My ten favourite fund manager letters ex Buffett

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The New Doom-and-Gloomers

(Financial Armageddon, 12/21/08)

No Cause for Optimism

(Financial Armageddon, 1/1/09)

“Free Money — the Ultimate Recession Stock”

(Stock Gumshoe, 7/24/08)

Read more …

Quotes to Live By
Too much prosperity makes men greedy and their desires are never controlled sufficiently to stop at the point of attainment. Seneca
The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts.” Bertrand Russell, philosopher, mathematician, author, Nobel laureate (1872-1970)
They are my two favourite quotes. Both are cornerstones of my life philosophy.
Another recent favourite is an Anthony Robbins quote, or at least a modern maxim attributed to Robbins.
Once you have mastered time, you will understand …

Where does Warren Buffett get his investment ideas?
Start with the As: The story goes that when a reporter asked Buffett where he gets his investment ideas, he replied that he reads annual reports and learns about every publicly traded company in the United States. “But there are 27,000 public companies,” the reporter responded. “Well,” replied Buffett, “start with the As.”
I don’t think I’m going too far out on a limb to suggest that Buffett’s advice is not particularly helpful to the average investor.
Newsletters
My primary source of ideas

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Ten days to move my investing world online and share it with you, that’s some challenge.
Day One: My Reading List. Or more accurately, ten excellent investment articles from my hard drive reading list, in no particular order.

This advice came from Ronald Muhlenkamp the founder and president of Muhlenkamp & Company. Ron is a value focused guru who has outperformed the markets over the last 15 years.
“There are 3 things that will help you do well in the market.
* A consistent philosophy - know what you do and know that it works (there are many options here)
* Perspective - know when your philosophy works and when it won’t. Know that the market moves in cycles and that you need to be patient.
* Discipline - The first two …

The following was first posted on the Motley Fool Stock Advisor board Becoming an Investing Master on 5th Feb 2007.
Like you I am an investor, though perhaps a few pages ahead. The following is a quick brain dump which I hope will be of some benefit.
I have been investing for 20 years, though only started concentrated on it about three years ago. If I was to start over I’d do the following:
1) Sit down and think very hard about what sort of person I am. What is my outlook and …

An Australian fund which I invest in recently published their quarterly review. http://www.opis.com.au/downloads/quarterly_reviews/2008q1QIR.pdf
I found the following lessons learned by Dean Fergie, the fund manager, of interest. (highlighting added)
“The simple answer is that we will be far more proactive in selling investments over which there are question marks. Company contact and building a strong relationship with the management of companies in which we invest will remain a core investment tenet at OPIS. We believe that it is necessary to properly understand the functions of …