#WeeklyInvestorReader | wk. 1

Note to readers: #WeeklyInvestorReader contains a few of the articles I read during the week. Visit my Twitter @HurriCap for any other articles that may not have been included. 

The 5 Operating Principles Behind Berkshire Hathaway’s Uniquely Profitable Reinsurance Business – The Motley Fool, January 8, 2017 | In his 2015 letter, Warren Buffett warned Berkshire Hathaway shareholders that prospects for the reinsurance industry had dimmed. However, as this week’s $1.5 billion deal with The Hartford illustrates, five operating principles will enable Berkshire’s reinsurance activity to beat competitors and remain comfortably profitable.

Amazon 2004 Shareholder Letter – Jim Bezos, April 2005 | Jeff Bezos discusses the concept of free cash flow.

Sweden’s new business king takes the long-term view – Financial Times, January 5, 2017 | Fredrik Lundberg is seeking to move Industrivarden on from a business jet scandal.

Week in Review – Financial Times, January 6, 2017 | Christmas blues for retailers, Apple’s App boost, Airbnb, Alibaba and Moutai.

How Amazon innovates in ways that Google and Apple can’t – Vox, December 28, 2016 | In short, Amazon has shown a remarkable ability to succeed in a wide variety of different product categories. That’s a contrast to most other high-profile tech companies that are really good in one area — Google’s dominant online services or Apple’s extraordinarily profitable hardware — but struggle when the quest for growth pushes them outside their zone of core competency.

Hennes & Mauritz: Where Did My Operating Margin Go? – Larsson Group, September 16, 2016 | An investment analysis of H&M.

The TSC Streetside Chat: Robert Wilson – The Street, April 16, 2000 | Despite being wrong about the popularity of gambling in Atlantic City, Wilson made a mint. Today, he tells us how.

Alexa: Amazon’s Operating System – Stratechery, January 4, 2017 | The concept of an operating system is pretty straightforward: it is a piece of software that manages a computer, making said computer’s hardware resources accessible to software through a consistent set of interfaces.

Alphabet, Citigroup, and Other Secret Value Stocks – Barron’s, January 3, 2017 | The Oakmark fund’s Bill Nygren, who beat the market handily in 2016, shares some of his favorite picks.

Disney’s Not Just a Mickey Mouse Investment – Morningstar, January 4, 2017 | Disney’s economic moat is wide. Its media networks segment and collection of Disney-branded businesses have demonstrated strong pricing power in the past few years.

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