David Tepper is one the greatest HF managers of his generation; earning a 25% CAGR over 26 years.

He became extraordinarily wealthy but claims he's "a regular guy who happens to be a billionaire”.

Some career advice from the man himself. 1/ Tepper is a son of Pittsburgh, Pennsylvania, born in 1957 and would graduate from the University of Pittsburgh in 1978 as an economics major and later complete an MBA from Carnegie Mellon in 1982.

In 1996, six years after Peter Lynch's retirement, he sat down with PBS to reflect on his track record, the 1987 crash, and share his advice on stock picking.

It was a great discussion; I have cherry-picked some of the best bits.

1/ Retail investors do have a chance in hell. 2/ On flexibility and turning over rocks.

"The person that turns over the most rocks wins the game".

5 great insights from this Sunday's @TheITNewsletter

1/ Stan Druckenmiller at USC & Sohn

"I have never seen this movie before. I read that 7 stocks are responsible for 85% of the S&P rise this year. It reminds me very much of the Nifty Nifty era”. 2/ Charles D. Ellis on the idea of how to comfort investing challenges; covering topics like governance, assessing management character, private wealth investing, and asset allocation.

In 1981, Joel Greenblatt authored a paper on buying stocks selling below their liquidation value, and ran some backtests with impressive results.

It was called 'How the Small Investor Can Beat the Market'.

Here are a few takeaways from the paper. 1. Greenblatt refutes the EM hypothesis (an idea has persisted).

While the #s may differ today, institutions still neglect certain stocks; many of them too small/illiquid. For this reason, many investors believe there will always be unrecognised value in the market.

Five great insights from Sunday’s edition of @TheITNewsletter

1. @iancassel on conviction.

“During a lifetime you will have 10-20 big winners and hundreds that didn’t live up to your expectations”. 2. If you’ve ever heard of the phrase “cash on the sidelines” you will enjoy this essay from @rhunterh

Buffett recently hopped over to Japan to meet the CEOs of some companies he invested in, and talked to CNBC about why he was in Japan, the economy, the Federal Reserve, and the US banking system.

Here are eight takeaways from the man himself. 1. Buffett gives Japan the seal of approval but suggests that one could have observed his actions years prior for confirmation.