Seven Corners Capital 

This is the fifth in a series of blog posts that will analyze / summarize Warren Buffett's shareholder letters from 1977-2015. For all of the prior shareholder letters, see here. The 1981 letter weighs in at slightly over 6,600 words, a 13% decrease versus the prior year, the first such decease we have seen in our series. So, for at least one blog post, yours truly will have some easier lifting. ACQUISITION CRITERIA After recapping the prior year's discussion of retained earn

This is the fourth in a series of blog posts that will analyze / summarize Warren Buffett's shareholder letters from 1977-2015. For all of the prior shareholder letters, see here. The 1980 letter weighs in at almost 7,500 words, a 12% increase over the prior year and a "yuge" 145% increase over the 1977 letter (the subject of our first blog post in this series). Much like Berkshire's stock price and book value, the word count in Berkshire's letters trends in one direction ove

This is the third in a series of blog posts that will analyze / summarize Warren Buffett's shareholder letters, beginning with the 1977 letter and (hopefully) ending with last year's letter in about a month or two from now, just in time for the issuance of 2016 letter in late February. For all the 1977-2015 letters, see here. A NOTE ON ACCOUNTING The 1979 letter (weighing in at a whopping 6,650 words, a 52% increase over the prior year) notes at the outset that the accounting

This is the second in a series of blog posts that will analyze / summarize Warren Buffett's shareholder letters, beginning with the 1977 letter and (hopefully) ending with last year's letter in about a month or two from now, just in time for the issuance of 2016 letter in late February. For all the 1977-2015 letters, see here. DISCUSSION OF OPERATING SUBSIDIARIES The 1978 letter begins by noting that the financials of Blue Chip Stamps are now fully consolidated in Berkshire's

This is the first in a series of blog posts that will analyze / summarize Warren Buffett's shareholder letters, beginning with the 1977 letter and (hopefully) ending with last year's letter in about a month or two from now, just in time for the issuance of 2016 letter in late February. Prior to 1977, the letters were more straightforward and less philosophical and/or educational, so they won't be covered in this series; moreover, they aren't available on Berkshire Hathaway's

Today Seven Corners Capital Management initiated coverage on the Genworth Financial (GNW) / China Oceanwide Merger Arbitrage. Specifically, we are long GNW, believing that its 26% IRR for a 7-month period to be quite attractive. To find a PDF containing our full GNW writeup, please visit our Research section [link here].