cho, page-75

back when CK was on this thread, investment principles and fundamental Buffett, Munger & Graham was discussed.

This included all quality LICS such as CHO, ARG, MLT, AUI & DUI. And also various other companies with extreme moats, companies that did not deviate from the core; WOW, CCL, BHP..etc

The GFC was a superb period to buy into these organisations for the long term and take control of the irrational selling. A pure 101 Buffett. Now, we know we couldnt get 100% of the timing right, but so what -we are all better off for buying any of the above during distressed times.

Anyhow, I thought id share with you principles of an investor who mirrors that of those super investors. There is nothing new. All we need is to be refreshed of them. Howard Marks of Oaktree gives a great account and the link to his letters MUST be read, just like Warren's of Berkshire Hathaway annual.

Enjoy the read Gentleman!

http://www.oaktreecapital.com/memo.aspx