tailieunhanh - Three Lectures by Warren Buffett to Notre Dame Faculty, MBA Students and Undergraduate Students

By keeping the curriculum and testing regimes unchanged from previous years, the author was able to use a quasi-experimental method to compare progress during the pilot study with that of previous cohorts, factoring out differences in prior attainment. Evidence for improved attainment through the introduction of the VLE was inconclusive, with only a small, statistically insignificant gain. Data mining techniques suggested that pupils using the VLE in a more strategic manner received the greatest benefit. . | Three Lectures by Warren Buffett to Notre Dame Faculty MBA Students and Undergraduate Students Spring 1991 Lightly edited by Whitney Tilson WTilson@ Highlights The transcript of Buffett s lectures is 39 pages. For those of you who don t have the time to read the entire transcript we ve pulled out some of the highlights - the most interesting things Buffett said and or the things that we ve never heard him say anywhere else. Keys to Investment Success I found some strange things when I was 20 years old. I went through Moody s Bank and Finance Manual about 1 000 pages. I went through it twice. The first time I went through I saw a company called Western Insurance Security Company in Fort Scott Kansas. They owned 92 at that time of the Western Casualty and Surety Company. Perfectly sound company. I knew people that represented them in Omaha. Earnings per share 20 stock price 16. garbled . much more than that. I ran ads in the Fort Scott Kansas paper to try and buy that stock - it had only 300 or 400 shareholders. It was selling at one times earnings it had a first class management team . Tape ends here . Incidentally I would say that almost everybody I know in Wall Street has had as many good ideas as I have they just had a lot of bad ideas too. And I m serious about that. I mean when I bought Western Insurance Security selling at 16 and earning 20 per share I put half my net worth into it. I checked it out first - I went down to the insurance commission and got out the convention statements I read Best s and I did a lot of things first. But I mean my dad wasn t in it I d only had one insurance class at Columbia - but it was not beyond my capabilities to do that and it isn t beyond your capabilities. Now if I had some rare insight about software or something like that - I would say that maybe other people couldn t do that - or biotechnology or something. And I m not saying that every insight that I have is an insight that somebody else could have but