letters to investors

Savor this moment, Dow Chemical. Treasure it. Never let it go. Read more »

Or something along those lines. Read more »

Bob Gross The Cat, who rose to prominence as an honorary CIO of the world’s biggest bond firm and had the uncommon intellectual capability to understand when her owner was on television, died last week. She was 14 years old. Bob is survived by her loving masters, Bill and Sue. Read more »

“As is tradition at Glenview when things are going well for our investors, I have worn the same brown suede shoes since January 2nd, and John McMonagle, our Industrials Sector Head, continues to wear the same pair of khaki pants that are holding up better than my shoes.” [AR]

“For years I kept these memos away from anything related to politics. But more recently I began to discuss issues facing the United States, and this has required some mention of policy and thus of politics. I’ve tried very hard to be non-partisan, with a goal of not having readers know my leanings…Because I found America’s recent presidential election – and especially the results – so fascinating, I’m going to move explicitly to the field of politics, but with the same goal of non-partisan expression…If you believe the exit polls, people who were positively influenced by the handling of Sandy could have made up all or more of Obama’s 2.8% margin of victory. If it’s true that Sandy was the deciding factor for 15% of the electorate, and if it caused just a fifth of those people to switch to Obama, that means without Sandy, Romney would have won. I find it shocking that the choice of a president for four years could turn on something as fickle as the weather.” [Howard Marks]

The result is a multi-dimensional man who lives in a bottle, takes his sartorial cues from Flava Flav, and predicts election results “Mr. G” doesn’t even want. Read more »

In other GL third quarter updates, sources at Brovada say the investment team has swung from two point underdogs to 13.5 point favorites in the annual interoffice basketball game and the Greenlight baby-making machine continues to around the clock. Read more »