"The investment idea of Tiger was summed up in three sentences. They could be
very long sentences,
but for the most part it was a three sentences process. This is the opportunity,
this is how we
can exploit it, and this is what the outcome will be. 1-2-3. If you couldnˇŻt
give it to him in
those 3 sentences in a 5-6 minute pitch, it wasnˇŻt worth his time. It was time
to move on to the
next stage. I think that where other people get bogged down in the research, or
get bogged down in
the data, or get bogged down in the external factor, he thrives. Julian is all
about sending an
analyst anywhere to get as much information as they can and then take that
information, distill it
down into a very clear and concise opportunity and figure out how to put that
opportunity to
work." --Daniel A. Strachman

How Julian Robertson Turned $8.8 Million Into $21 Billion
---------------------------------------------------------
http://www.tradingmarkets.com/.site/stocks/commentary/satinterview/12212004-4157\
1.cfm


zenway.com enlightening book of the month
-----------------------------------------
Julian Robertson : A Tiger in the Land of Bulls and Bears
by Daniel A. Strachman
http://www.amazon.com/exec/obidos/ASIN/0471323632/zenway-20

zDigest:

They had a weekly meeting, where everyone got together, they obviously got
together, that was a
formal get together, but they had an informal get together as well, obviously
during the day. So
people traded ideas all day long. People talked about things. It was a very open
atmosphere to
keep people involved in how opportunities were to be found, how opportunities
were to be
exploited, how opportunities were to be passed on. Because obviously, not
everything that comes up
is worth doing. Not every trade is a good one.

Tiger's Investment Process: "We think this is going to work. WeˇŻll put a little
bit of capital
behind it. If it starts working, weˇŻll put more capital behind it. If it
doesnˇŻt work, which is
possible obviously, weˇŻll live with our losses. WeˇŻll hope for the best."

Three things to learn from Julian Robertson. The first thing is that value-based
investing models
can be very successful over the long run. The second thing is you need to have
conviction in what
you are doing. And the third thing is to realize that the key to successful
hedge fund investing
is shorting. Julian and some of the former Tigers will be the first to tell you
that itˇŻs a lot
harder to short than it is to go long. The work that goes into shorting is much
more strenuous
than the work that goes into going long and you need to be really focused on the
shorts more than
you need to be focused on the longs.

====================================================================

We recently reviewed the solid record of our "sell/short" recommendations at:
http://groups.yahoo.com/group/zenway

Here is a copy of our performance and thoughts on shorting:

=========== ENLIGHTENED INVESTOR DIGEST http://zenway.com ============

THE TRICKY ART OF SHORTING

By Brian Zen, CFA, PhD

Congratulations to those who sold or shorted eBay and Google during
the last few weeks following our cautionary research notes on
internet stocks.

OUR RECORD AT SELLING & SHORTING

In the brief history of Zenway.com Investment Research, weˇŻve issued
a total of four sell ratings on four stocks. Here is our report card:

11/30/2004 We Recommended Selling (or Shorting) eBay around $113.
We asked: ˇ°Is eBay Really Invincible?ˇ±
http://finance.groups.yahoo.com/group/zenway/message/44
Last week, eBay closed at $86.05

1/5/2005 We Recommended Selling/Shorting Google around $195
We Speculated that ˇ°Click Fraud May Sink Googleˇ±
http://finance.groups.yahoo.com/group/zenway/message/45
Last week, GOOG closed at $188.28

9/25/2003 We Recommended Shorting JBLU (JetBlue) around $40.30
http://groups.yahoo.com/group/zenway/message/40
Last week, JBLU closed at $19.14

8/19/2002 We Recommended Shorting KohlˇŻs (KSS) at $71:
http://groups.yahoo.com/group/zenway/message/31
Last week, KSS closed at $46.18

So far so good. On behalf of Zenway.com Investment Management &
Research, I want thank all the enlightened investors and analysts in
our global network who contributed mightily in our scuttlebutt
research efforts.

A casual reader of Zenway Enlightened Investor Digest might think
that shorting is our specialty. It is not. We are primarily buyers of
solid businesses at bargain prices, but we reserve our buy
recommendations internally to our partners and paid members at:
http://groups.yahoo.com/group/zenwaydotcom

One day, we may issue some of our buy recommendations to the public,
too.

THE DIFFICULTY OF SHORTING STOCKS

At a time when no one dared to say a negative word about eBay, we
stuck our neck out and published some bearish research notes
questioning the valuation of eBay. For more than one month, we looked
pretty stupid in light of the waves of brokerage upgrades of eBay, as
the "must-own premier growth stock of the century" thrust to new
highs everyday.

In fact, we agree with Wall Street top analysts that eBay is truly
the premier growth stock of this century. It still is. We just think
that the price was too high and the hype was too hot.

We think eBay may have some further downside risk. The temporary slow
down in growth usually takes a few quarters to digest. At the right
price, we will reverse our short position and become buyers. Stay
tuned. WeˇŻll let you know when we buy into eBay.

In that past few years, we have spent quite some time contemplating
about the wisdom of shorting stocks. We concluded that shorting is
very difficult game. The short portfolio should be well diversified
across industries and companies. It should also be limited to a
certain account or a specific percentage of assets under management.
Usually, shorting should only be used as a hedge against existing
long positions in other stocks.

The lure of shorting is difficult to resist for value investors.
First, overvalued mediocore businesses are much easier to find than
undervalue wonderful businesses. Secondly, shorting can provide some
free funding for you to enlarge your investment operation beyond your
existing capital. Thirdly, the idea of capturing the performance
spread between good and bad businesses is simply brilliant. Fourthly,
stocks usually drop faster than they rise. So if you are right, you
can make some very fast profits.

In reality, shorting is far more difficult than most people think.
There are a number of reasons.

First, you are working against stock promoters. And the promoting
investment bankers have far more ideas than you do. You could run out
of capital before the promoters run out of ideas like new products,
new acquisitions, stock splits, earning surprises, and announcing
higher earnings estimates, not to mention the numerous brokerage
upgrades they can issue all day long. And usually, those promoting
investment bankers have more money than you and I combined.

Secondly, if you short a stock, the most profit you could make is
100% on your entry price. But a stock's upside is theoretically
unlimited, it can easily be 300% or 1,000%. A highly overvalued stock
usually becomes ridiculously overvalued under the wonderful work of
promoters and investment bankers.

Thirdly, the timing of a short is extremely difficult. Value
investors tend to get into a short too early and lose lots of sleep
as they watch the worthless stock continue to climb.

All in all, we think shorting is an art reserved only for the bravest
stock market operators, and it should be practiced in combination
with hedges, diversifications, capital limits and stop-loss
protections.

THE 3RD EDITION OF OUR BIBLE

Recently, the bright guys at McGraw Hill published another classic
edition of our bible: "Security Analysis: The Classic 1951 Third
Edition" by Benjamin Graham & David Dodd:
http://www.amazon.com/exec/obidos/ASIN/0071448209/zenway-20

We urge our fellow stockpickers to get a hold of this classic and
share with us the pearls of wisdom that you can extract from it at:

http://groups.msn.com/zenwayus
A open-discussion egroup for enlightened stockpickers.

The classic 1951 edition of ˇ°Security Analysisˇ± by Graham & Dodd is
an edition of the bestselling investment bible that was written
during a time of economic stability and prosperity. It provides
investors with techniques and strategies for profitable investing in
an economic environment that most resembles today. It features
timeless methods for measuring asset values and cash flows:
http://www.amazon.com/exec/obidos/ASIN/0071448209/zenway-20

======================================================================
http://zenway.com investment management & research
Call 212-226-8396







__________________________________________________
Do You Yahoo!?
Tired of spam?  Yahoo! Mail has the best spam protection around
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Today's Annual Convention of Chinese Association for Science and
Technology:
http://www.castusa-gny.org/convention2005.htm
Just show up and join us today for seminars, opportunities, professional
networking, speeches, dinner, and more!

----------------------------------------------------------------------
Jack Welch on Winning, Candor and Business Strategies:
http://tinyurl.com/9oucp
----------------------------------------------------------------------

Dear CAST-USA GNY members and friends,

Below is an updated version for our this Saturday's 2005 Annual
Convention program. It is also available in our website at
www.castusa-gny.org. It is an once a year gathering for CAST members
and friends to networking and to renew membership. If you or your
friends have not renew your membership/register for the convention,
please go to www.castusa-gny.org for online convention registration
and membership renewal. We only have limited seats still available
for our dinner session.
Wish to see you all at the convention!

Warm Regards,

Alec Tsuo
President, CAST-USA GNY
347-866-6593
atsuo@...

---------------------------------------------------
Chinese Association for Science and Technology, USA
Greater New York Chapter
2005 CAST-USA CONVENTION
---------------------------------------------------
Date: June 18, 2005
Time: 1:30 PM - 10: 00 PM
Location: New York Marriott Hotel Financial Center
85 West Street, New York, NY
Phone: 1-212-385-4900
Contact: Voicemail/Facsimile: (810) 885-0697
www.castusa-gny.org
conference@...
Registration: Online registration and payment via CAST-USA GNY Chapter
website: www.castusa-gny.org
Interactive Maps/Driving and Subway Directions:
http://marriott.com/property/mapandnearbyairports/default.mi?
marshaCode=nycws
Parking: street parking if available. garage parking: 212 619-0278
Guests Valet Parking with hotel $40 per day; $50 for oversized car.

~~~ ~~~ ~~~ ~~~ ~~~ ~~~
Convention Program

Theme: Growth and Challenges
==============================
Conference Chair: Alec Tsuo, President, CAST-USA GNY
Conference Honorable Chair: Dr. Jiaye Xie
Conference Committee:
Dr. Yuanshan Zhu, Dr. Zhixiong Chen, Dr. Hui Zhou,
Dr. Dongguang Wei, Dr. Bingsheng Zhao, Dr. Kuan Zhang,
Dr. Tailiang Xie, Dr. Zheng Li, Jianbo Lei, Yun Zhong
Fundraising Chair:Dr. Tong Fang
Fundraising Committee:
Jingong Pan, Hua Li
Finance Chair: Dr. Mengchu Zhou
Public Relation Chair: Jingong Pan
Publication Chair: Dr. Michael Tian
Membership Chair: Dr. Meimei Gao
Student Poster Chair: Dr. Jizhong Xiao, Dr. Jie Hu

Program
--------------------------------
Registration and Check in: 1:30 PM

Opening Remarks: 2:00 - 2:15 PM
Dr. Jiaye Xie, CAST-USA GNY Conference Honorable Chair
Distinguished Guest Speech: 2:15 - 2:30 PM
Honorable Ambassador Liu, BiWei, New York Consul General of P.R.C.
Distinguished Guest Speech: 2:30 - 2:40 PM
Mr. Howard Li, Chair, US Chinese Chamber of Commerce

Parallel Sessions: 2:40 - 5:30 PM
Session One: Opportunities in IT & Engineering Service Industry
Chair: Dr. Zhixiong Chen, Associate Professor, Mercy College

"Service Business: Today and Tomorrow"
Dr. Zhang, LiangJie, IBM T J Watson Research Lab
"Services in Trading Company"
Dr. Zhou, YunFeng, Interactive Brokers
"Robust Computing - Managing the Complexity of Information System"
Dr. Jiang, Geoff (Guofei), NEC Laboratories America
"Digital Data Embedding"
Dr. Shi, Yunqing, Professor, New Jersey Institute of Technology, &
Fellow, IEEE

Session Two: Challenges on Biomedicine Technology
Chair: Dr. YuanShan Zhu, Associate Professor,
Weill Medical College of Cornell University

"Programmed Cell Death and Targeted Cancer Therapies"
Dr. Jiang, Xuejun, Assistant Professor,
Graduate School of Medical Sciences, Cornell University
"Biomedicine: From Bench Side to Bed Side"
Dr. Zhu, YuanShan Associate Professor
Lab Director, Division of Endocrinology
Weill Medical College of Cornell University
"Exploring the Protein Folding Free Energy Landscape with Molecular
Dynamics"
Dr. Zhou, Ruhong
Computational Biology Center, Deep Computing Institute
IBM T J Watson Research Lab
"Overview of US Drug Regulation"
Hua Zheng, MD, PhD, Director, Global Regulatory Leader,
Global Regulatory Affairs, Tibotec, Inc., a Johnson & Johnson
Company
"How to secure Small Business Innovative Research(SBIR) Funding"
Dr. Yingjie Qin, President, Chembrane Research & Engineering,Inc.

Session Three: Greater New York Area (New York State/New Jersey State)
Doctoral Students Poster Competition
Chair: Dr. John (Jizhong) Xiao, Assistant Professor, E&E, City
College,
CUNY
Co-Chair: Dr. Jie Hu, Assistant Professor, ECE, NJIT

(Please go to www.castusa-gny.org for most updated posting
participation rules.

All doctoral students are welcome to submit their papers.)

~~~ ~~~ ~~~ ~~~ ~~~ ~~~ ~~~ ~~~

CAST-USA GNY Members, Friends, Guests Networking Break:
(Beverage will be served) 5:50 - 6:50 PM

~~~ ~~~ ~~~ ~~~ ~~~ ~~~ ~~~ ~~~
Banquet Keynote Speech: 7:00 PM
"Challenges & Opportunities of Working in the United States"
Dr. Wei Zhao, Director, Division of Computer and Network Systems
National Science Foundation
Featured Speech: 7:45 PM
"New Trends in Leveraging a US Technology Company for Doing Business
in
China
- A Legal Perspective"
Dr. Xiaolin Zhou, Principal Partner, & Dr. John Du, JunHe Law
Offices, NYC
Distinguished Guest Speech: 8:15 PM
Mr. Ai, Fanglin, Education Counselor, The Consulate General of P.R.C.
in New
York
Close Remarks: 8:30 PM
Alec Tsuo, President, CAST-USA GNY

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Distinguished Guests:
---------------------
Honorable Ambassador Liu, BiWei, Consul General,
The Consulate General of P.R.C. in New York
Dr. Wei Zhao, Director, Division of Computer and Network Systems,
National Science Foundation
Mr. Howard Li, Chair, US Chinese Chamber of Commerce;
Chair & CEO, Waitex
Mr. Ai, Fanglin, Education Counselor,
The Consulate General of P.R.C. in New York
Mr. Li, WuQiang, Science & Technology Counselor,
The Consulate General of P.R.C. in New York

~~~ ~~~ ~~~ ~~~ ~~~ ~~~ ~~~ ~~~

CAST-USA GNY Convention Sponsorship:
Gold Level:
MR. HOWARD LI, WAITEX CO.
MS. ZHIFANG RONG, TWIN DRAGON CONSULTING SERVICE INC
Silver Level:
BANK OF CHINA, NEW YORK BRANCH
MS. SIU WONG, RE/MAX PREMIER
Bronze Level:
GOVERNEUR HEALTHCARE SERVICES
MR. SIMON LI & DCH AUTO
DR. WEI ZHAO & GMAC MORTGAGE
SHANGHAI FOREIGN LANGUAGE EDUCATION PRESS, NORTH AMERICA OFFICE
DR. ZHIYU HU, ESQ.
DR. JIWEI ZHAO, ESQ
UNIVEST SECURITIES

----------------------------------------
CAST-USA GNY 2005 Convention Dinner Menu

Cold Appetizer: Thai Seared Ahi Tuna with Papaya and Sweet Lime Chili
Sauce
Salad: Sonoma Field Greens with Shaved Romano Cheese, Shallot
Vinaigrette
Entree:Miso glazed salmon with Lemon Grass Broth Served with Israeli
Cous Cous
Baby Carrots and
Baby Vegetables
Dessert: Creamy New York Style Cheesecake with Raspberry Sauce

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Help Wanted!

Would you be interested in becoming a partner in the Zenway
Investment Training & Networking program? Would you be interested to
learn the best kept secrets of superinvestors like Warren Buffett? Do
you want to build yourself a part-time private investment business,
the best business in the world?

If you are, we would love to meet you!

At Zenway.com, we are passionate about guiding people towards wealth
and inner peace through training and networking. Our mission is to
dramatically improve the financial results of the lives we touched
and coached. Join us to learn about the new opportunities in the
financial industry.

Date: Saturday, July 16, 2005
Time: 2PM – 4PM
Place: 401 Broadway, 22 Floor, New York, NY 10013
Topic: Business Opportunities in the Zenway Financial Network
Cost: FREE
RSVP required: Please email your name and phone number to:
zenway.us@...

=====================================================================
Enlightened Investor Digest:

China: The Looming New Superpower
http://www.bankstocks.com/article.asp?type=1&id=9880715

Warren Buffett remains bearish on the dollar
http://msnbc.msn.com/id/8335811/

Portfolios and Strategies of Enlightened Investors:
http://tinyurl.com/aehq9

Free Advice from World-Renowned Stock-Pickers
http://news.morningstar.com/doc/article/0,,137619,00.html?ssection=Comm2

---------------------------------------------------------------------
We are starting our meeting earlier on Saturday, July 17, 2005

Time: 12:30 noon – 2 PM
Date: Saturday, July 16, 2005
Place: 401 Broadway, 22 Floor, New York, NY 10013
Topic: Business Opportunities in the Zenway Financial Network
Cost: FREE
RSVP required: Please email your name and phone number to:
zenway.us@...

(Our formal investment training program, "The best-kept secrets of
Graham-Buffett Value Investing", will be held during 2PM - 5 PM over
the next 5 weekends. If you are interested in this in-depth training
program for next generation superinvestors, please come at 12:30 PM
or call: 646-388-0887)

Would you be interested in becoming a partner in the Zenway
Investment Training & Networking program? Would you be interested to
learn the best kept secrets of superinvestors like Warren Buffett? Do
you want to build yourself a part-time private investment business,
the best business in the world?

If you are, we would love to meet you!

At Zenway.com, we are passionate about guiding people towards wealth
and inner peace through training and networking. Our mission is to
dramatically improve the financial results of the lives we touched
and coached. Join us to learn about the new opportunities in the
financial industry.

Warren Buffett: The Possibility of Achieving 50% Return in Stock Market:
http://tinyurl.com/avtsq
http://groups-beta.google.com/group/zenway
----------------------------------------------------------------

How shuld we work towards ellusive 50%? Please come to one free trial class in
our Zenway
millionaire training program:

Time: 12 noon – 2 PM
Date: Saturday, July 23, 2005
Place: 401 Broadway, 22 Floor, New York, NY 10013
Tel: 646-388-0887
Topic: Stock Picking – The Best Business in the World
Cost: FREE
RSVP required: Please email your name and phone number to:
Zenway.us@...

Would you be interested in becoming a partner in the Zenway
Investment Training & Networking program? Would you be interested to
learn the systems and processes of superinvestors like Warren Buffett and
Benjamin Graham? Do you
want to build yourself a part-time private investment business, the best
business in the world?

If you are, we would love to meet you!

At Zenway.com, we are passionate about guiding people towards wealth
and inner peace through proper training and networking. Our mission is to
dramatically improve the
financial results of the lives we touched and coached. Join us to learn about
the new
opportunities in the investment business.





____________________________________________________
Start your day with Yahoo! - make it your home page
http://www.yahoo.com/r/hs

Global Ad Agency: ICMediaDirect.com is seeking
responsible, aggressive and experienced (minimum 2
years) online media sales executive in New York City
with successful track record with ONLINE sales
(substantial experience is a must). Understanding
Internet advertising vehicles such as pops, banners,
search and lead generation is required. The Best
office location in the city! Competitive salary (plus
commission), bonuses and benefits.

Please email your resume with salary expectations to
HR@...

---------------------------------------------------------------

Warren Buffett: The Possibility of Achieving 50% Return in Stock Market:
http://groups-beta.google.com/group/zenway
----------------------------------------------------------------

How shuld we work towards ellusive 50%? Please come to one free trial class in
our Zenway millionaire training program:

Time: 12 noon - 2 PM
Date: Saturday, July 23, 2005
Place: 401 Broadway, 22 Floor, New York, NY 10013
Tel: 646-388-0887
Topic: Stock Picking: The Best Business in the World
Cost: FREE
RSVP required: Please email your name and phone number to:
Zenway.us@...

Would you be interested in becoming a partner in the Zenway
Investment Training & Networking program? Would you be interested to
learn the systems and processes of superinvestors like Warren Buffett and
Benjamin Graham? Do you want to build yourself a part-time private investment
business, the best business in the world?

If you are, we would love to meet you!

At Zenway.com, we are passionate about guiding people towards wealth
and inner peace through proper training and networking. Our mission is to
dramatically improve the financial results of the lives we touched and coached.
Join us to learn about the new opportunities in the investment business.

We now have a google “zenway” group dedicated to stockpicking scuttlebutt
research. Join us if you
are willing to share great ideas:
http://groups-beta.google.com/group/zenway
----------------------------------------------------------------

Seminar:
HOW TO BUILD A TEAM TO DIG FOR GOLD ON WALL STREET

Speaker: Brian Zen, CFA, PhD
Time: 12 noon – 2 PM
Date: Saturday, July 30, 2005
Place: 401 Broadway, 22 Floor, New York, NY 10013
Tel: 646-388-0887 (Our investment training group will meet every Saturday for
the next 3 weeks.
Please call if you want to come by.)
Cost: FREE
RSVP required: Please email your name and phone number to:
Zenway.us@...

Join us. Get rich. Have fun. And get paid in terms of (1) Commission + (2) Bonus
+ (3) Profit
Sharing.

Would you be interested in becoming a partner in the Zenway Investment Training
& Networking
program? Would you be interested to learn the systems and processes of
superinvestors like Warren
Buffett and Benjamin Graham? Do you want to build a great to mine for gold on
Wall Street?

If you are, we would love to meet you!

At Zenway.com, we are passionate about guiding people towards wealth and inner
peace through
proper training and networking. Our mission is to dramatically improve the
financial results of
the lives we touched and coached. Join us to learn about the new opportunities
in the investment
business.

============================================
Steve Jobs’s Speech at Standford University:
http://news-service.stanford.edu/news/2005/june15/jobs-061505.html


Focus, discipline, simplicity: a Zen Way to wealth!
http://www.zenway.com

Enlightened capitalists sharing financial enlightenments:
http://groups.yahoo.com/group/zenway



____________________________________________________
Start your day with Yahoo! - make it your home page
http://www.yahoo.com/r/hs

The Zen Way to Follow the Footsteps of Billionaires and Cultivate a Passion for
the Most
Profitable Hobby on Earth
(A special seminar with our single best stock pick)
Time: 12 noon – 2 PM
Date: Saturday, August 6, 2005
Place: 401 Broadway, 22 Floor, New York, NY 10013 Tel: 646-388-0887
Cost: $20 at the door without RSVP.
Half price admission of $10 if you RSVP by emailing your name and phone number
to:
zenwaydotcom@...
Value: A zenway single best stock pick will be discussed at this meeting. Great
investment ideas
are extremely valuable. Our past stock picks have created stellar returns for
those who bothered
to come to our meetings in the past:
http://finance.groups.yahoo.com/group/zenwaydotcom/

Join us. Get rich. Have fun. And get paid in terms of (1) Commission + (2) Bonus
+ (3) Profit
Sharing.

Zenway Stock Pick Followup:
--------------------------
Hold on to Guidant for merger risk arbitrage with Johnson & Johnson (JNJ)

On Mon Aug 13, 2001, investors who came to our investment club meeting learned
about our
investment pick of Guidant (GDT) at $32:
http://finance.groups.yahoo.com/group/zenwaydotcom/message/2

Now the stock is trading at $69. Congratulations to those who contributed to the
detailed research
scuttlebutt on GDT and those who came to our meeting on the Guidant pick.

We choose to hold on to GDT at $69 because we believe that Guidant’s recent
product recall and
warning is a temporary problem that could be solved. Specifically, we think:

1) It is unlikely for a giant like JNJ to back out of a major merger contract
with GDT just
because of some product recalls and technical problems. We don't think JNJ will
throw away $750
million break-up fee to rescind a deal. A deal is a deal. How many product
recalls have we seen at
JNJ? Many. Will they throw away $750 million just for a product recall problem
that is already
solved? NO. And the JNJ stock itself seems reasonably priced.
Risk arbitrage upside $8 (Merger deal price $76)
Downside $8
Probability of success: 90% (Most deals do close.)
Probability of failure: 10%
Estimated closing: within 2 month.
You do the math.

2) JNJ did not pay a huge premium for the acquisition. The price for the growing
leading player in
stent devices is reasonable considering the past highs of GDT. So if JNJ polls
out, it would be
JNJ's loss.

3) GDT seems to be winning the market battle against BSX and JNJ. JNJ must have
found it difficult
to compete with GDT. Otherwise, they won't make the major decision to buy GDT
out.

4) The product failure or recall rate were extremely low, about 0.4%. You would
naturally expect
some risk when dealing with people's hearts. But, between the threat of a heart
attack and a 0.4%
chance of device failure, the patients won't have much choice. The benefit
dramatically outweighs
the risk.

5) GDT has major support around $65. So the downside risk seems to be limited.
And the upside, if
the merger close, is $76. The odds are not too bad.

6) GDT management is way better than Boston Scientific (BSX). The management of
BSX pays
themselves too much.

Investment involves risks. Here is our legal disclaimer:
http://www.zenway.com/disclaim.htm

What do you think? Let me know:
Brian Zen, CFA
zenway.us@...
http://www.zenway.com

==================================================

An Enlightening Book on Business and Networking: The Pampered Chef
With a forward by Warren Buffett
http://tinyurl.com/7bvju





__________________________________________________
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PART-TIME HOME BUSINESS OPPORTUNITY:
A DEALERSHIP IN COMPOUNDING MONEY MACHINES
Time: 12 noon – 2 PM
Date: Saturday, August 13, 2005
Place: 401 Broadway, 22 Floor, New York, NY 10013 Tel: 646-388-0887
Cost: $10 at the door without RSVP.
FREE admission if you RSVP by emailing your name and phone number to:
zenwaydotcom@...

Join us. Get rich. Have fun. And get paid in terms of (1) Commission + (2) Bonus
+ (3) Profit
Sharing.

=============================

TIME TO SELL ALTRIA GROUP (MO)

We started to accumulate Altria (MO) at $37 on Feb. 7, 2003:
http://finance.groups.yahoo.com/group/zenwaydotcom/message/27
It turned out that we are too early. Smarter investors in our network who waited
a few more weeks
could have pick up MO shares below $30.

Now, the stock doubled to $67 per share. As we monitor the recent quiet changes
in MO’s financial
situation, we believe it is time to take some profits off the table.

==============================================

Dealing With Market Rallies: Ten Do’s & Don’ts
by Money Manager Steve Selengut
http://tinyurl.com/96e9c


A MODIFIED GRAHAM-BUFFETT APPROACH FOR GROWTH INVESTING:
http://www.businessweek.com/bwdaily/dnflash/aug2005/nf2005082_1368_db006.htm?cam\
paign_id=topStories_ssi_5


================================================
http://www.zenway.com - financial enlightenments

Part-time Investment Research Business:
A TAOIST "LEAST EFFORT" APPROACH TO STOCK MARKET WEALTH
Time: 9 AM - 11 AM
Date: Saturday, August 27, 2005
Place: 41-60 Main Street, Suite 203, Flushing, NY 11355 (Opposite the
Flushing Postoffice, Tel: 646-388-0887)
Cost: $10 at the door without RSVP.
FREE admission if you RSVP by emailing your name and phone number to:
zenwaydotcom@...

Join us. Get rich. Have fun. And get paid in terms of (1) Commission +
(2) Bonus + (3) Profit Sharing.

===========================================

Stock Holdings of Warren Buffett and Lou Simpson:
http://www.sec.gov/Archives/edgar/data/1067983/000095012905008251/a11621ae13fvhr\
.txt

Dear Friends and Community Leaders:

I am writing to you to ask for your support for my friend Bryan Pu-
Folkes who is running in the Democratic Primary for City Council
District 25 including Jackson Heights, Elmhurst, Corona, and Rego
Park. If you know any registered voters in those areas of Queens,
please ask them to go out on September 13th and vote for Bryan Pu-
Folkes for City Council District 25.  We are helping Bryan to raise
money for his campaign.  If you can donate money, please download a
contribution card here:
http://www.bryanpufolkes.com/card.pdf
If you have time to give please email: info@...

During these busy days of campaigning, Mr. Bryan Pu-Folkes, a
successful corporate lawyer, threw away his ego, took the trouble to
go to each, and every subway station in District 25 of Queens, and
shake hands with every subway commuter.  This gesture clearly shows
that Bryan is the type of leader who is down-to-the-earth and truly
willing to be a public servant to the community.

I can only remember another political figure who also threw away his
ego, took the trouble to go the subways, and shake hands with daily
commuters, and that was John F. Kennedy.

Starting from subway stations in Boston, we know that John F. Kennedy
later on became one of the greatest Democratic Presidents in the
United States.  Likewise, I firmly believe that Bryan Pu-Folkes,
starting from subway stations in Queens, will become one the greatest
councilmen for New York City.

At Zenway Enlightened Investors Network, we passionately support
Bryan Pu-Folkes for City Council because he truly cares about the
quality of life for everyone in the community, including investors
and entrepreneurs like us

Dear friends, I urge you to call any registered voters you know of in
District 25 including Jackson Heights, Elmhurst, Corona, and Rego
Park. If possible, I would also urge you to donate money or time to
our new Councilman Bryan Pu-Folkes. If you would like to set up a
time to meet Bryan Pu-Folkes personally and talk about your concerns,
you can call me at: 646-388-0887. You can also visit Bryan's website
at:
http://www.bryanpufolkes.com/

Let's all go out to vote in the Democratic Primary on September 13
and put Bryan Pu-Folkes in the City Council to represent our voices.

Warmest regards,

Brian Zen, CFA, PhD
Enlightened Investors Network
http://www.zenway.com


=======================
Who is Bryan Pu-Folkes?
=======================

Bryan Pu-Folkes was born and raised in Queens. A resident of Jackson
Heights, attorney, and lifelong Democrat, Bryan founded and is
Executive Director of New Immigrant Community Empowerment (NICE),
which helps New York's diverse communities ensure that local
government is representative, accessible, and accountable. Bryan was
appointed by Mayor Michael Bloomberg as a New York City Human Rights
Commissioner and is a Health Ambassador to Elmhurst Hospital Center;
he also serves on the boards of the conservancy for Flushing Meadows
Corona Park and Citizens for NYC.

Bryan Pu-Folkes's mother is a respected leader of the Asian American
Community. She has done wonderful things for the Chinese Community
over many years.

More stories about our next Councilman Bryan Pu-Folkes:
http://www.bryanpufolkes.com/

"Humility is an enormously important quality. You can't win without
it. Survival in the end is where the winners are by definition, and
survival begins with humility." --Peter Bernstein

====================================================

Free Seminar:
ADVANTAGES AND DISADVANTAGES OF REAL ESTATE INVESTING
Instructor: Brian Zen, CFA, PhD
Time: 9 AM - 10:30 AM
Date: Sunday, September 11, 2005
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.
Subway R, W, N, Q, E, 6)
Tel: 646-388-0887
COST: FREE (for the introductory class only)
RSVP required: Please email your name and phone number to:
zenwaydotcom@...

Come to our millionaire training workshops! Let's exercise the
muscles of our money mind, grow rich and have fun!

2000 years, success depends on how big your muscles are. Now, success
depends on how big your mental muscles are. Let's get together to
work on the muscles of our money mind.

Benjamin Graham's method "is to find stocks that are so undervalued
right now that if you buy them today you will in time make money,
whether they increase in intrinsic value in the future or not. My
method is quite different. It is how to select situations that will
increase so much in intrinsic value in the future so that, so long as
you do not fall into the trap of the two-tier market period and pay
too much for them at the time of purchase, you will in time make
money, and lots of it."
--Philip A. Fisher

==========================================================

Enlightened Investors Lecture Series:
HOW TO READ A CEO'S LETTER TO SHAREHOLDERS
Instructor: Brian Zen, CFA, PhD
Date: Sunday, Sept 25, 2005
Time: 1pm - 2pm
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.)
Subway R, W, N, Q, E, 6
Tel: 646-388-0887
COST: FREE (for the introductory class only)
RSVP required: Please email your name and phone number to:
zenwaydotcom@...

-----------------------------------------------------------
http://www.zenway.com - Simple Steps towards Wealth and Inner Peace

"Why is it that China in the Renaissance fell behind Europe in
technology? Often people assume that it has something to do with the
Confucian tradition in China supposedly making the Chinese ultra-
conservative, whereas the Judeo-Christian tradition in Europe
supposedly stimulated science and innovation. Well, first of all,
just ask Galileo about the simulating effects of the Judeo-Christian
tradition on science. Then, secondly, just consider the state of
technology in medieval Confucian China. China led the world in
innovation and technology in the early Renaissance. Chinese
inventions include canal lock gates, cast iron, compasses, deep
drilling, gun powder, kites, paper, porcelain, printing, stern-post
rudders, and wheelbarrows — all of those innovations are Chinese
innovations. So the real question is, why did Renaissance China lose
its enormous technological lead to late-starter Europe? (Please
scroll down for answers.)" - Prof. Jared Diamond of UCLA

=====================================
Enlightened Investors Lecture Series:
=====================================
HOW TO READ FINANCIAL STATEMENTS: MENTAL IMAGING TECHNIQUES
Instructor: Brian Zen, CFA, PhD
Date: Sunday, October 9, 2005
Time: 1pm - 2pm
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.)
Subway R, W, N, Q, E, 6
Tel: 646-388-0887
COST: FREE (for the introductory class only)
RSVP required: Please email your name and phone number to:
zenwaydotcom@...
More details about our value investing workshops:
http://www.zenway.com - awaken the billionaire within

========================
ZENWAY INVESTMENT MOVES:
========================
On Sunday, Aug 31, 2003, we recommended the purchase of Loews Corp
(LTR) at $41:
http://finance.groups.yahoo.com/group/zenwaydotcom/message/29
Now, at a price of $92, we think it is a good time to take some
profits off the table:
http://finance.yahoo.com/q?s=LTR

==========================================
WHY CHINA FELL BEHIND EUROPE IN TECHNOLOGY
==========================================
Some amazingly insightful observations by Prof. Jared Diamond of UCLA
Source: http://www.edge.org/documents/archive/edge56.html

Why is it that China in the Renaissance fell behind Europe in
technology? Often people assume that it has something to do with the
Confucian tradition in China supposedly making the Chinese ultra-
conservative, whereas the Judeo-Christian tradition in Europe
supposedly stimulated science and innovation. Well, first of all,
just ask Galileo about the simulating effects of the Judeo-Christian
tradition on science. Then, secondly, just consider the state of
technology in medieval Confucian China. China led the world in
innovation and technology in the early Renaissance. Chinese
inventions include canal lock gates, cast iron, compasses, deep
drilling, gun powder, kites, paper, porcelain, printing, stern-post
rudders, and wheelbarrows — all of those innovations are Chinese
innovations. So the real question is, why did Renaissance China lose
its enormous technological lead to late-starter Europe?

We can get insight by seeing why China lost its lead in ocean-going
ships. As of the year 1400, China had by far the best, the biggest,
and the largest number of, ocean-going ships in the world. Between
1405 and 1432 the Chinese sent 7 ocean-going fleets, the so-called
treasure fleets, out from China. Those fleets comprised hundreds of
ships; they had total crews of 20,000 men; each of those ships
dwarfed the tiny ships of Columbus; and those gigantic fleets sailed
from China to Indonesia, to India, to Arabia, to the east coast of
Africa, and down the east coast of Africa. It looked as if the
Chinese were on the verge of rounding the Cape of Good Hope, coming
up the west side of Africa, and colonizing Europe.

Well, China's tremendous fleets came to an end through a typical
episode of isolationism, such as one finds in the histories of many
countries. There was a new emperor in China in 1432. In China there
had been a Navy faction and an anti-Navy faction. In 1432, with the
new emperor, the anti-Navy faction gained ascendancy. The new emperor
decided that spending all this money on ships is a waste of money.
Okay, there's nothing unusual about that in China; there was also
isolationism in the United States in the 1930's, and Britain did not
want anything to do with electric lighting until the 1920s. The
difference, though, is that this abandoning of fleets in China was
final, because China was unified under one emperor. When that one
emperor gave the order to dismantle the shipyards and stop sending
out the ships, that order applied to all of China, and China's
tradition of building ocean-going ships was lost because of the
decision by one person. China was a virtual gigantic island, like
Tasmania (an extremely isolated and primitive society).

Now contrast that with what happened with ocean-going fleets in
Europe. Columbus was an Italian, and he wanted an ocean-going fleet
to sail across the Atlantic. Everybody in Italy considered this a
stupid idea and wouldn't support it. So Columbus went to the next
country, France, where everybody considered it a stupid idea and
wouldn't support it. So Columbus went to Portugal, where the king of
Portugal considered it a stupid idea and wouldn't support it. So
Columbus went across the border to a duke of Spain who considered
this stupid. And Columbus then went to another duke of Spain who also
considered it a waste of money. On his sixth try Columbus went to the
king and queen of Spain, who said this is stupid. Finally, on the
seventh try, Columbus went back to the king and queen of Spain, who
said, all right, you can have three ships, but they were small ships.
Columbus sailed across the Atlantic and, as we all know, discovered
the New World, came back, and brought the news to Europe. Cortez and
Pizarro followed him and brought back huge quantities of wealth.
Within a short time, as a result of Columbus having shown the way, 11
European countries jumped into the colonial game and got into fierce
competition with each other. The essence of these events is that
Europe was fragmented, so Columbus had many different chances.
Essentially the same thing happened in China with clocks: one
emperor's decision abolished clocks over China. China was also on the
verge of building powerful water-powered machinery before the
Industrial Revolution in Britain, but the emperor said "Stop," and so
that was the end of the water-powered machinery in China. In
contrast, in Europe there were princes who said no to electric
lighting, or to printing, or to guns. And, yes, in certain
principalities for a while printing was suppressed. But because
Europe in the Renaissance was divided among 2,000 principalities, it
was never the case that there was one idiot in command of all Europe
who could abolish a whole technology. Inventors had lots of chances,
there was always competition between different states, and when one
state tried something out that proved valuable, the other states saw
the opportunity and adopted it. So the real question is, why was
China chronically unified, and why was Europe chronically disunified?
Why is Europe disunified to this day?

The answer is geography. Just picture a map of China and a map of
Europe. China has a smooth coastline. Europe has an indented
coastline, and each big indentation is a peninsula that became an
independent country, independent ethnic group, and independent
experiment in building a society: notably, the Greek peninsula,
Italy, the Iberian peninsula, Denmark, and Norway/Sweden. Europe had
two big islands that became important independent societies, Britain
and Ireland, while China had no island big enough to become an
independent society until the modern emergence of Taiwan. Europe is
transected by mountain ranges that split up Europe into different
principalities: the Alps, the Pyrenees, Carpathians — China does not
have mountain ranges that transect China. In Europe big rivers flow
radially — the Rhine, the Rhone, the Danube, and the Elbe — and they
don't unify Europe. In China the two big rivers flow parallel to each
other, are separated by low-lying land, and were quickly connected by
canals. For those geographic reasons, China was unified in 221 B.C.
and has stayed unified most of the time since then, whereas for
geographic reasons Europe was never unified. Augustus couldn't do it,
Charlemagne couldn't do it, and Napoleon and Hitler couldn't unify
Europe. To this day, the Europe Union is having difficulties bringing
any unity to Europe.

So, the lesson I draw is that competition between entities that have
free communication between them spurred on Europe. In China one
despot could and did halt innovation in China. Instead, China's
experience of technological innovation came during the times when
China's unity fell apart, or when China was taken over temporarily by
an outside invader.

You've seen that effect even in modern times. Twenty years ago, a few
idiots in control of the world's most populous nation were able to
shut down the educational system for one billion people at the time
of the Great Cultural Revolution, whereas it's impossible for a few
idiots to shut down the educational system of all of Europe. This
suggests, then, that Europe's fragmentation was a great advantage to
Europe as far as technological and scientific innovation is
concerned. Does this mean that a high degree of fragmentation is even
better? Probably not. India was geographically even more fragmented
than Europe, but India was not technologically as innovative as
Europe. And this suggests that there is an optimal intermediate
degree of fragmentation, that a too-unified society is a
disadvantage, and a too-fragmented society is also a disadvantage.
Instead, innovation proceeds most rapidly in a society with some
intermediate degree of fragmentation.

Bill Gates on Jared Diamond
http://www.edge.org/3rd_culture/diamond_pulitzer/diamond_index.html

The book recommended by Charlie Munger:
"Collapse: How Societies Choose to Fail or Succeed" by Jared Diamond
http://www.amazon.com/exec/obidos/ASIN/0670033375/zenway-20

"World Journal" Cover Story on Zenway Investment Workshops:
==========================================================
Zenway.com Training Next Generation Chinese Superinvestors
==========================================================
http://tinyurl.com/9qkz5

http://www.worldjournal.com/wj-chinese-news.php?nt_seq_id=1244221&page=1&sc_seq_\
id=120

Oct 2, 2005 Sunday Cover Story on World Journal:
http://www.worldjournal.com/

==============================================
Older Reports on Zenway's Investment Strategy:
==============================================

"Voice of America" Quoted Brian Zen on the Strategies of Warren Buffett:
http://www.voa.gov/chinese/economic/econ/011602buffettgbtxt.htm

Yahoo! Finance Profiled an Earlier Version of Brian Zen's Investment
Strategy:
http://cn.biz.yahoo.com/010705/100/i3vp.html

================================================================
Warren Buffett and Bill Gates Lecture at University of Nebraska:
================================================================
Sources:
http://www.omaha.com/index.php?u_pg=46&u_sid=2033024
http://seattlepi.nwsource.com/printer/ap.asp?category=6420&slug=Buffett%20Gates

Highlights & Z-Digests:
=======================

Buffett got more laughs than Gates. As he took a drink of Coke - Berkshire is a
big Coca-Cola shareholder - he urged students to drink lots of it. Actually, he
said, "I don't care whether you drink it. Just open the can."

Nichole Brockhoft, a business administration major, asked what was the best
advice they had ever received, and Buffett turned to Gates, saying, "What did I
tell you that impressed you most?"

Gates said he once saw Buffett's calendar and it was almost blank. That's a good
lesson on keeping control of your time and learning how to say no, Gates said.

"The truth is, I don't get invited anyplace," Buffett said.

Seriously, Buffett said, his father had told him that it's more important to do
well on your "inner scorecard" of personal success rather than the "outer
scorecard" of exterior accomplishments.

"I read a lot," he said, and he spends a fair amount of time on the telephone.

Student Ryan Mendlik asked what habits young people should develop, and Gates
said one habit to avoid is procrastination. His fellow students used to think it
was fun to put things off until the last minute, Gates said, but that didn't
work in business.

Gates' comment that to succeed in business you should develop three key
abilities: to think strategically, to lead other people and to be a good
individual performer.

Asked what super powers they would want, Buffett said he'd like to read faster.

Buffett said that reading Benjamin Graham's investment book, "The Intelligent
Investor," in college changed his life, but as a child he had read investment
books at his father's office.

Gates said a key moment in his life was when his school, using the proceeds from
a mothers' rummage sale, bought a computer. He and a friend, Microsoft
co-founder Paul Allen, became obsessed with finding out what the machine could
do.

-------------------------------------------------
http://zenway.com - awaken the billionaire within

"Investing without research is like playing stud poker and never
looking at the cards." - Peter Lynch

Enlightened Investors Lecture Series:
=====================================
HOW TO READ THE PICTURE OF A BUSINESS
=====================================
Instructor: Brian Zen, CFA, PhD
Date: Saturday, October 22, 2005
Time: 2:30-4PM
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.)
Subway R, W, N, Q, E, 6
Tel: 646-388-0887
COST: FREE (For the introductory trial class only.)
RSVP required: Please email your name and phone number to:
zenwaydotcom(at)yahoo.com

More details about our value investing workshops:
http://www.zenway.com - awaken the billionaire within

=====================================================================

The $91 Billion Conversation with Bill Gates and Warren Buffett:
http://www.fortune.com/fortune/technology/articles/0,15114,1117906,00.html

"Lack of money is the root of all evil." --George Bernard Shaw

"The number one idea is to view a stock as an ownership of the business
and to judge the staying quality of the business in terms of its
competitive advantage. Look for more value in terms of discounted
future cash flow than you're paying for. Move only when you have an
advantage. It's very basic. You have to understand odds and have the
discipline to bet only when the odds are in your favor." --Charlie
Munger

Enlightened Investors Lecture Series:
==================================================
HOW TO WATCH A BUSINESS DANCE IN A CASH FLOW MOVIE
==================================================
Instructor: Brian Zen, CFA, PhD
Date: Nov. 5th, Saturday  Time: 2:30 - 4PM
Place: SPARKFX, 48 Wall Street, 11th Floor, New York, NY 10005 Tel: 646-
388-0887
Subway: 1, 9, 4, 5 to Wall Street.
RSVP required. Please email your name and phone number to:
zenwaydotcom(at)yahoo.com [ please replace (at) with @ ]

http://zenway.com - world-class investment research & training

===================================================

Wallace Weitz's Quarterly Letter and Portfolio Review:
http://www.weitzfunds.com/Shareholderletters/currentletters/WeitzEquityFunds3Q20\
05.pdf

"Value investing, which involves a labor-intensive hunt for
underperforming stocks at discounts to the company's intrinsic
valuations, runs counter to human nature. Underperforming companies can take
years to blossom. It
can be a little lonely being a value guy in a world where Jim Cramer's Mad Money
is the top-rated
financial show." -- Whitney Tilson

Here is our first report on the Value Investor Congress.
http://finance.groups.yahoo.com/group/zenway/files/EID/

---------------
http://www.zenway.com - enlightened investor digest



__________________________________
Yahoo! FareChase: Search multiple travel sites in one click.
http://farechase.yahoo.com

Graham-Buffett Value Investing Lecture Series:
=================================
"I work like the dickens... I'm still working. I'm still excited. I'm
still curious. And I still learn every day." --Retired President of
Coca-Cola Don Keough

Investment Workshop:
=================================
MAKING SENSE OF FINANCIAL NUMBERS
=================================
Instructor: Brian Zen, CFA, PhD
Date: Saturday, Nov 19, 2005
Time: 2:30-4PM
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.)
Subway R, W, N, Q, E, 6
Tel: 646-388-0887
COST: FREE (For the first 1.5 hours only.)
RSVP required: Please email your name and phone number to:
zenwaydotcom(at)yahoo.com, that is:
zenwaydotcom@...

=======================================
Insights from Value Investing Congress:
=======================================
http://groups.yahoo.com/group/zenway

=============================================
Ex-Coke exec Keough: 'I still learn every day'
==============================================
BY STEVE JORDON
http://www.omaha.com/index.php?u_pg=46&u_sid=2053352&u_rnd=4398760

=========
http://www.zenway.com - awaken the billionaire within

"I hate to be an optimist, but we have really added a lot of
wonderful businesses to Berkshire over the past few years." --Charlie
Munger

Graham-Buffett Value Investing Lecture Series:
=======================
HOW TO VALUE A BUSINESS
=======================
Instructor: Brian Zen, CFA, PhD
Date: Saturday, Dec 3, 2005
Time: 1-2:30PM
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.)
Subway R, W, N, Q, E, 6
Tel: 646-388-0887
COST: FREE (For the first 1.5 hours only.)
RSVP required: Please email your name and phone number to:
zenwaydotcom(at)yahoo.com, that is:
zenwaydotcom@...

=====================================
LET'S MEET ONLINE VIA VOICE-TEXT-CHAT
TO BUILD AN INVESTMENT RESEARCH TEAM
=====================================

How about adding voice-text-video chat as weekly research meetings to
our community?

Let's test-drive meeting online to do voice-video-text research
meetings!
Steps:
1) Download the Paltalk Messenger at: http://www.paltalk.com
2) Log in. Search for room "Buffett". Or search for pal "Brian Zen".
3) Try search for the room around 9PM New York Eastern Standard Time.
I will try to be online around that time everyday.
4) We will try to meet every Saturday night at 9PM New York Eastern
Standard Time to discuss specific investments, make presentations,
share ideas and swap jokes! Every meeting will be 30 minutes to one
hour long.

If we get 20 people visit the room and type in a message indicating
their commitment to meet regularly as a research team, we would like
to foot the bill to buy a premium room for us, to be open to our
group 24 hours a day, 7 days a week. Anyone can go in to talk with
the super-smart enlightened investors in our global network, live and
in person, as long as they are in the room at the same time.

This will be our investment research "war room".

Our goal is to attract a dedicated group of shrewd value investors
committed to each other, to pool together time and brainpower, and
become the next generation superinvestors from Graham-and-
Buffettsville.


http://www.zenway.com - awaken the billionaire within

=====================
RELAXATION TECHNIQUES
=====================
From: "Ani" <anna_itrecr@...>
Hi Friends.
I just want to share you my experience that how to relax your body.
You can see my experience. There is very cool stuff for you all
people.

More detail http://relaxbody.blogspot.com/

"Life is really simple, but we insist on making it complicated." (Confucius)
"Everything should be made as simple as possible, but not any simpler." (Albert
Einstein)
At zenway.com, we follow the teachings of Confucius and Einstein with one goal
in our mind: To
make investing as simple as possible. We work with passion, dedication and love
in our research
and training to craft new illustrations, parables and processes:
http://www.zenway.com/training.html

=========================================
Enlightened Investor Digest, Dec. 1, 2005
=========================================
http://finance.groups.yahoo.com/group/zenway/files/EID/

Contents:
1. Our full coverage of The 2005 Value Investor Congress with investment ideas
from great value
investors like Joel Greenblatt, Seth Klarmen, Richard Pzena, and many more.
2. The Zen Way to Get Organized (when handling the mountain of 10-Q's and 
10-K's)
3. Our Watch List of Interesting Value Stocks.

============================

Get enlightened! http://www.zenway.com/eid

============================

Bill Miller of Legg Mason Will Keynote the 2006 Value Investing Congress:
http://www.valueinvestingcongress.com/










__________________________________
Start your day with Yahoo! - Make it your home page!
http://www.yahoo.com/r/hs

"Buy good companies whose stocks are cheap. That's the magic formula."
(Joel Greenblatt)

Graham-Buffett Value Investing Lecture Series:
=========================================================
HOW TO FIND NIRVANA IN THE MOST PROFITABLE HOBBY ON EARCH
=========================================================
Instructor: Brian Zen, CFA, PhD
Date: Saturday, Dec 10, 2005
Time: 11AM to 3 PM
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.)
Subway R, W, N, Q, E, 6
COST: FREE (For the first 1.5 hours only.)
RSVP required: Please email your name and phone number to:
zenwaydotcom(at)yahoo.com, that is:
zenwaydotcom@...
Or call: 646-388-0887

=======================

One of most entertaining and educational book on the stock market! A
funny stock market primer for kids! We urge you to read:
"The Little Book that Beats the Market" by Joel Greenblatt
http://www.amazon.com/exec/obidos/ASIN/0471733067/zenway-20/

Prof. JOEL GREENBLATT at Columbia University recently talked about
his magic formula on stock picking in the 2005 Value Investing
Congress. Here is an outline of his talk:

The Magic Formula:
Invest in Good Companies Whose Stocks are Cheap

• Good companies = High return on capital ROC (Defined as
operating profit divided by net working capital plus net fixed
assets.)
• Cheap stocks = High earnings yield (Defined as pre-tax
operating earnings divided by enterprise value.)
• ROC = EBIT/(Net working capital + Net fixed assets)
• Earnings yield = EBIT/(Enterprise Value)
• Key issues addressed by his two magic formulas: (1) What is
the return on the price you paid? (2) What is the return on the
capital the company is investing?

“I am not a fan of shorting. The long-short guys blow up every eight years. I
call it the ‘I got
it! I got it! I ain’t got it!’ Strategy.” (Joel Greenblatt)

Joel Greenblatt's Value Investing Lecture at NYSSA
http://finance.groups.yahoo.com/group/zenway/files/EID/
(The pdf document is attached with this email.)

=================================

Joel Greenblatt's "The Little Book that Beats the Market":
http://www.amazon.com/exec/obidos/ASIN/0471733067/zenway-20/
One of most entertaining and educational book on the stock market! A funny stock
market primer for
kids and professionals.

=================================

David Winter, Partner of Michael Price, Will Speak at NYSSA
http://tinyurl.com/9y7vt
On Thursday, January 26, 2006, New York Society of Security Analysts
http://nyssa.org will host
another great value investing seminar by David Winter, former partner of Michael
F. Price at
Mutual Series of Funds.





__________________________________________________
Do You Yahoo!?
Tired of spam?  Yahoo! Mail has the best spam protection around
http://mail.yahoo.com

"Life is really simple, but we insist on making it complicated." --Confucius

Investment Seminar:
============================================
How To Train Your Kids To Become The Next Superinvestor
============================================
Date: Saturday, Dec 10, 2005
Time: 10AM to 2 PM
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.)
Subway R, W, N, Q, E, 6
COST: FREE (For the first 1.5 hours only.)
RSVP required: Please email your name and phone number to:
zenwaydotcom(at)yahoo.com

For free consultation, please call: 646-388-0887

===========================================================
NON-PROFIT EDUCATIONAL INSTITUTE SEEKING FOUNDING DIRECTORS
===========================================================

A brand-new non-profit educational institution seeking founding directors!

First meeting of the founding directors of Investment Research Analyst Institute
in New York
Date: Sunday, January 15
Time: 2PM - 3PM
Place: 401 Broadway, 22 Floor, New York, NY 10013
(at Canal Street, take subways E, N, R, Q, W, 6 to Canal Street)
For more information, please call: 212-226-8396
Or email: bzen(at)zenway.com

If you have any friend who might be interested in this effort, please
let us know or bring them to the meeting.

===================================================

Buffett Lectures Students from Texas A&M University:
http://maysbusiness.tamu.edu/2005/03/perspectives.html
http://maysbusiness.tamu.edu/2005/03/perspectives-qa.html


===============
From: "keppg05"
===============
Hi,  The Foundation for the Study of Cycles is inviting the members
of our group to the Foundation's 65th Anniversary webinar.  The
webinar is FREE to attend and has the following schedule; (EST)

10AM - Anthony Herbst PhD. "Can the Study of Cycles Preview Our
Changing World?"

11AM - Jake Bernstein - "Seasonal Cycles"

12PM - Richard Mogey - "Sunspots and the 40 Month Market Cycle"

1PM - Samuel A. Schreiner, Jr. - AUTHOR OF BOOK "CYCLES" (1990)

2PM - Stephen Bush - "Cycles and the Energy Sector."

3PM - Jim Tillman - "Reminiscence of the Foundation's Early Days in
Pittsburgh"

4PM  - Leslie Botha - "Cyclical Nature of Women's Hormones and Their
Behaviors"

5PM  - Mark Eubank - "Do Cycles Exist in Weather?"

6PM  - PANEL DISCUSSION - OPEN

Attendees of this anniversary seminar also get a complimentary
membership to the Foundation for the study of Cycles for 2006.

To enroll for this webinar please click this link;

http://foundationforthestudyofcycles.org/jan10th.htm

We look forward to seeing you there!


------------
http://www.zenway.com - enlighten your financial future

"We practice the Taoist wei wu wei, the `doing not doing' as regards
our portfolio, otherwise known as creative non action. We are mostly
inert when it comes to shuffling the portfolio around, with turnover
that has averaged in the 15 to 20% range, implying holding periods of
more than 5 years. Many funds have turnover in excess of 100% per
year, as they constantly react to events or try to take advantage of
short term price moves. We usually do neither. We believe successful
investing involves anticipating change, not reacting to it."
    -- Bill Miller, Legg Mason Value Trust

Investment Research Workshops:
=======================================================
How To Discover and Nurture Your Kids' Financial Talent
=======================================================
Date: Sunday February 19, 2005
Time: 9:30AM to 1 PM
Place: 401 Broadway, Suite 2200, New York, NY 10013 (at Canal St.)
Subway R, W, N, Q, E, 6
COST: FREE (For the first 1.5 hour only.)
RSVP required: Please email your name and phone number to:
zenwaydotcom(at)yahoo.com

To request free information on our "Superinvestor-to-be Research
Workshops", please call: 646-388-0887

========================================
Marty Whitman's 'Safe and Cheap' Investment Approach
========================================
http://news.morningstar.com/article/printArticle.asp?id=154787

-
http://www.SuperinvestorDigest.com - Distilled Wisdom

Monthly Investment Research Online Chat Tonight
Time: 8PM-9PM Eastern Standard New York Time
Date: Sunday, March 5, 2006 (and the first Sunday of every month)
Place: http://www.paltalk.com
Please download the paltalk messenger. Log in and search for room
"value investing". Or search for pal "Brian Zen". To test your
microphone setting, please go to the technical support chat room
before you join our chat.

Topics:
1)Discuss Warren Buffett's new 2005 letter to shareholders and share newly discovered single best ideas.
2)Q&A if you have any questions about our research workshop in July 1-2: http://www.zenway.com/w
3)Scuttlebutt some of the best stock picks presented.
4)Swap best jokes!

Warren Buffett spends a fair amount of time over the phone chatting
with very smart
 people. Our monthly value investing online research
chat is our effort to gather a group of very intelligent investors
doing monthly online scuttlebutt meetings on specific investment
ideas. All of us have mental blind spots. The monthly research
scuttlebutt is designed to get people out of their mental blind spots
by sharing fresh perspectives on each investment.

Don't miss the chance to form mastermind alliances!

________________________________________________
Words from the God: 
Warren Buffett’s 2005 Letter to BRK Shareholders

http://www.berkshirehathaway.com/2005arn/2005ar.pdf

Martin Whitman's "Cowardly" Safe-And-Cheap Way To Invest

• High quality balance sheet;
• Competent and shareholder-oriented management;
• Understandable and honest disclosure documents;
• Priced at 50 to 60 cents on a dollar.

Investment Research & Accounting Workshop:

http://zenway.com/w

"I find investing a fascinating game. It is the
ultimate game because you have so much ups and downs
and so many players." (Warren Buffett)

~~~~~~~~~~~~~~~~~~~~~~~~~

Zenway.com Financial Network is pleased to invite you
to join us at:
THE 2006 SPRING RECEPTION
of Chinese Association of Science & Technology
(CAST-GNY)

Date: Saturday, March 25, 2006
Time: 2:00 pm to 5:30 pm
Place: Rockefeller University, 500 East 63rd Street,
38th floor (penthouse), NYC at the Southeast corner of
63rd Street and York Avenue. You can take subway 6, or
F. The campus has limited Parking spots. You may have
to use street parking.

PROGRAMS:
2:00 pm: Site open, Name Tag pick up and Social
Networking
2:15 pm: Openning remarks

2:30 pm - 3:00pm Investment talk:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"Superinvestor Warren Buffett's Secret of Success"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
by Brian Zen, CFA, PhD

10 minutes recess Q&A

3:10 pm - 3:40pm Advanced Technology Talk:
"Smart Video Surveillance"
by Dr. Ying-Li Tian, RSM, IBM
10 minutes recess
3:50 pm - 4:20pm Business Talk:
"Conduct Cross Border Business: USA & China"
by Dr. Xiaolin Zhou
10 minutes recess
4:30 pm - 5:00pm: TBA
5:00 pm - 5:30pm Social Networking Program

*Drinks and Snacks will be provided during social
networking

The event is free but seats are limited and prior
registration is required. To register, please visit:
http://castusa-gny.org/new/main.php?page=registration

You can also register by calling: 646-388-0887 or
email your name and phone number to:
zenwaydotcom@...

~~~~~~~~~~~~~~~~~~~~~~~~
Appendix: Speakers' Bios

Dr. Ying-Li Tian received her PhD from the Chinese
University of Hong Kong in 1996 and her BS and MS from
TianJin University, China in 1987 and 1990. She is
experienced in computer vision topics ranging from
object recognition, photometric modeling and shape
from shading, to human identification, 3D
reconstruction, motion/video analysis, and facial
expression analysis. After she worked in National
Laboratory of Pattern Recognition, Chinese Academy of
Sciences, Beijing, China, Dr. Tian joined the Robotics
Institute in Carnegie Mellon University as a
postdoctoral fellow. She focused on automatic facial
expression analysis. She proposed and developed robust
and powerful methods for facial feature detection,
tracking, and automated facial expression analysis.
Since 2001, Dr. Tian is working at IBM T. J. Watson
Research Center and focusing on moving object
detection, tracking, and event and activity analysis.
She is one of the inventors of the IBM Smart
Surveillance System (S3). Dr. Tian published more than
50 papers in journals and conferences. She is a senior
member of IEEE.

Dr. Xiaolin Zhou received his Doctor of Juridical
Science degree (SJD) and Master of Laws degree (LLM)
from Harvard Law School and is a graduate of Institute
of Law, Chinese Academy of Social Sciences in Beijing.
Dr. Xiaolin Zhou is licensed to practice law in China
and the State of New York, and admitted before the
Federal (Southern District and Eastern District of New
York) and state courts in the State of New York. He
has over 20 years of legal experience both in
government and in private practice. As managing
partner of the firm's New York Office, he focuses his
practice on advising and assisting clients doing
business with/in China and helping clients resolve
legal and business problems in their operations in
China. His clients include many Fortune 500 industrial
and business corporations, banks, insurers, foreign
law firms and international organizations, as well as
many small and medium sized companies. He also
regularly advises Chinese entities and individuals on
doing business in the U.S. Prior to entering private
legal practice, Dr. Zhou served for seven years as
Head of International Law Division, Ministry of
Foreign Affairs of China. He also served as advisor to
the Chinese Delegation to the UN General Assembly and
Chinese delegate to the UN Legal Committee,
Outer-space Legal Subcommittee and UN Charter
Committee. He has participated in numerous
international negotiations and was involved in
handling major judicial and arbitration cases
involving government agencies and enterprises in
Chinese and foreign courts as well as international
arbitration tribunals.

Dr. Brian Zen is the founder of Zenway.com Inc., an
investment research firm that publishes Superinvestor
Digest and provides training and advisory services to
investors and analysts. He also serves as Executive
Vice President at Univest Securities, Inc. Previously,
he served as vice president and portfolio manager at
Janney Montgomery Scott and Prudential-Bache
Securities. As a Becker Scholar and a Bernard Baruch
Fellow, Brian graduated Summa Cum Laude from Bernard
M. Baruch College, City University of New York. He is
a guest professor of finance at St. John's University.
As an ardent disciple of superinvestor Warren Buffett,
Brian has been compiling "billion dollar mental
models" by combining the Western wisdom of money
masters with the Eastern philosophy of Confucius, Lao
Tzu and Buddha. Using both historical and current
real-time case studies, Brian runs investment research
workshops to re-program investors' money mind with a
highly structured system of procedures, filters, value
calculations, and risk control rules.

~~~~~~~~~~~~~~~~~~~~~~~~~~

Superinvestor Digest (SiD): Free articles & Downloads
http://finance.groups.yahoo.com/group/zenway/
http://finance.groups.yahoo.com/group/zenway/files/SiD/
(You need to apply for a free yahoo ID to download the
Superinvestor Digest free trial issues.)

Superinvestor Research Retreat:
http://zenway.com/w

Would you like to earn 30% a year and turn $1.1 million into $100
million in 17 years while "not trying very hard"? Read about a
back-tested system discovered by super investor Joel Greenblatt:

The Joel Greenblatt Way : Grow Rich "Not Trying Very Hard"
http://www.gurufocus.com/news.php?id=1427

OPEN HOUSE
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Huge 1 Br. Apt. For Rent & Moving Sale
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Date: Saturday, April 22, 2006
Time: 2 – 3 PM
Place: 87-10 51 Ave (at Broadway behind Queens Public Library
Elmhurst), Elmhurst, NY 11373 (Take Subway R, V, G to Grand Ave)
RSVP required, please call: 718-393-8788

HUGE 1-BR APT FOR RENT, ELMHURST, QUEENS
$1300/month Huge 1 bedroom apartment. With doorman, One-minute to
subway, supermarkets, schools and buses. Extremely conveniently
located behind the Queens Public Library at Broadway and Queens Blvd.
Could be partitioned into two bedrooms. One year lease. 2 month rent
as security deposit. Must have good credit and income. Please call
718-393-8788 for details.

MOVING SALE
~ Frigidaire Air Conditioners, Powerful 10,000 btu (For approx 25 x 17
inches standard opennings) Only $250, almost new, (Original Cost: $570)
~ Kitchen Exhaust Fan: $150, (Original Cost: $400)
~ New Microwave Oven + Toast: $100
~ Graco Baby's Swing Center：$10
~ And many books, music CDs, videos, clothing and other bargains.
Please call: 718-393-8788

~~~~~~~~~~~~ http://SuperinvestorDigest.com Superlinks ~~~~~~~~~~~~~~~

The Importance Of Founder-Owner-CEOs
http://money.cnn.com/2006/04/05/magazines/fortune/founders_f500_fortune_041706/
Studies show that companies with founders as CEOs with big ownership
stakes tend to outperform the market. (David Lau)

Booms, Busts, and Where Opportunities Occur
http://finance.yahoo.com/columnist/article/richricher/3413?p=1

Finding Inner Happiness in a Harvard Classroom
http://www.npr.org/templates/story/story.php?storyId=5295168

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
ZENWAY SUPERINVESTOR RESEARCH WORKSHOPS
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
At http://www.zenway.com, we believe in you, the individual investor. In fact,
we have a fanatic belief in the amazing potential of the human mind. We believe,
through disciplined zenway self-cultivation, every oridinary man and woman could
unleash the potential of his or her money mind and become an enlightened Zenway
Superinvestor! For details of our training workshops, please call: 646-388-0887
or visit:

http://www.zenway.com/workshops.html
- awaken the superinvestor within

The Real Secret of Zenway Superinvestors: Stay Highly Disciplined
http://www.businessweek.com/investor/content/apr2006/pi20060426_639078.htm

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
  2006 Convention Program and Activities
        http://www.castusa-gny.org
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Zenway Superinvestors Network ( http://zenway.com ) is pleased to
invite you to join our friends at at the 2006 CAST Greater New York
Convention:
http://castusa-gny.org/new/main.php?page=Convention2006

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dear All,

Once again, it's almost CAST-USA GNY Convention time, and this year,
we also make it vacation time!  Bring your whole family with you to
Lake George, UpState New York, during this May's Memorial long
weekend!  Please check http://www.castusa-gny.org for program and
activity details and make your reservation ASAP.  Rooms are limited.
Reservation is based on first come first serve.  Please check the
following link for details:

http://castusa-gny.org/new/main.php?page=Convention2006

More program and activity details will be updated frequently via
CAST-USA GNY web.  So please feel free to check back for the most
updated info.  If you wish to volunteer any part of our
Convention, you are more than welcome to do so.  Please do not
hesitate to contact us.  This is your professional community.

Best Regards,

Alec Tsuo
President, CAST-USA GNY
atsuo@...
www.castusa-gny.org

========================================
  2006 Convention Program and Activities
        http://www.castusa-gny.org
========================================

Date:
-----
May 27 - May 29, 2006, (with overnight stay of May 26, 27, & 28)

Location:
---------
Marine Village Resort
370 Canada Street
Lake George, NY 12845
http://www.marinevillage.com

Theme:
------
Professionalism, Innovation, Entrepreneurship, & Family Value

Program:
--------
May 26: 9:00PM - 11:30PM
Welcome Wine & Dessert Gathering(note 1)

May 27: 9:00AM - 12:00NOON
Lakefront Beech BBQ Brunch Networking Social(note 2)

May 27: 1:00PM - 5:30PM
Open Remarks
Session 1: Innovative Information Technologies & Services
Session 2: Energy Resources Technology & Strategy
Session 3: Engineering Advancement
Session 4: Bioinformatics

May 27: 6:30PM - 8:30PM
Convention Dinner(note 3)

May 28: 8:00AM - 9:00AM
Session 5: Entrepreneur/Project Breakfast RoundtableDevelopment

May 29: 8:00AM - 9:00AM
Session 6: Career Breakfast Penal Discussion

Activities(note 4):
-------------------
Fishing at Lake George
Hiking/Biking at the base of Adirondacks
Private Boating on Lake George
Swimming at Resort heated pool
Golfing/Mini-Golfing
Group Lake Sightseeing by Boat
Group Tour: Historical Site - Fort William Henry, Lake George Battlefield Park
Group Tour: Great Escape
More activities for family members and kids will be announced

Registration:
-------------
Registration via CAST-USA GNY online at www.castusa-gny.org.

If you are currently an active regular member, or a life member of
CAST-USA GNY, please login from the left side to register for our 2006
Convention.  Forget password? Click “Forget password” to create a temp
password for login.

If you are still not a CAST-USA GNY member, please click HERE for
NON-MEMBER Online Registration.

Rooms are limited.  Registration is based on first come first serve.
Registration Deadline:  May 1, 2006

Package:
--------
The packages include 3 overnight stays of May 26, 27, & 28 with a
convention dinner for your whole family outside of the Resort on May 27.

Rates:
------
(25% less than the individual retail price including sales tax, and it
is also tax deductible):

Life member/VIP Guest:    $325
Active member:            $345
Non-member:               $365

(1) There are only a couple of lakefront rooms available. The price
will be $120 on top of any packages listed above.

(2) There are total 5 lakefront suites available. The price will be
$240 on top of any packages listed above.

Currently, all lakefront suites and lakefront rooms are booked.  Only
standard lakeview rooms are available.

Payment:
--------
Full amount payment by check payable to CAST-USA needs mail to the
following address within two weeks from your registration date:

CAST-USA
295 Princeton Hightstown Road
P. O. Box 11-198
West Windsor, NJ 08550

Annual Sponsorship for CAST-USA GNY and 2006 Convention:
--------------------------------------------------------
Platinum Level:         $3000
Gold Level:             $2000
Silver Level:           $1000
Bronze Level:           $ 500
Individual Level:       $ 300

Notes:
------
1. Arrive at the Resort in Afternoon/Evening/Night of May 26.
2. Each family brings enough food and drinks for his/her own family.
3. Convention Dinner will be served outside of the Resort,
family-styled, and all family members are invited.
4. Activity and convention program details will be updated frequently.
Please check back for most recent activity plan.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Zenway Superinvestors Retreat:
http://www.zenway.com/workshops.html - awaken the superinvestor within

Agenda for July 1-2 2006 Zenway Investment Research Workshop
http://www.zenway.com/workshops.html
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

July 1 Morning:
1. The Success System of John D. Rockefeller. The Untold Secrets of
Superinvestors.
2. The Secret Codes to Unlock the Treasure Box
3. The Secret Map Leading to Hidden Treasures
4. The 8-in-1 Zenway Accounting Model

July 1 Afternoon
5. Stock Market Magic Formula #2
6. Case Study: Finding and creating value.
7. Valuation Case Study: Digging for Hidden Treasures.
8. Case Study: The Art of Paying Up for Quality.

July 2 Morning
1. The Golden Formula
2. Screening Filters
3. Valuation: How to Really Understand a Business
4. The Joy of Tracking The Numbers
5. Portfolio Management Rules and Risk Management

July 2 Afternoon
6. Case Studies: Masterful Bets of Buffett and Lampert
7. Dicuss & Debate the Best Ideas Today - Real Time Case Studies
8. Compose a List 5 Best Zenway Superstock Picks for the Next 12
Months
9. The Investment with Unlimited Return

The investor who doesn't aspire to be a superinvestor is not a
serious investor. If you love the game of investing, you really owe
it to yourself to join a dedicated group of value investors at:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
ZENWAY SUPERINVESTORS CLUB
http://www.zenway.com/workshops.html
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Our workshop is different. We have a much higher "coach/athletes"
ratio compared to our competitors. Our workshop is a discussion type
of active learning process involving real time live case studies
using our proprietary Zenway Valuation System, to arrive at five top
stock picks that could bring you profits many times your one-year
tuition at Zenway Superinvestors Academy. Seating is extremely
limited. Save $1,010 by joining us now:
http://www.zenway.com/workshops.html
For more information, please call 646.388.0887

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Decoding Eddie Lampert's Money Mind
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://finance.groups.yahoo.com/group/zenway/message/55
To get Superinvestor Digest's complete in-depth analysis of Eddie
Lampert techniques and methods, please subscribe to SiD Premier:
http://www.superinvestordigest.com

A book recommended by superinvestor Eddie Lampert:
"Crazy Busy" by Edward M. Hallowell, M.D.
http://www.amazon.com/exec/obidos/ASIN/0345482433/zenway-20

My Luncheon with Warren Buffett
http://www.businessweek.com/investor/content/jun2006/pi20060608_633640.htm

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The Davis Checklist for Stock Picking
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

- First-class management with a proven record of keeping its word.
- Does innovative research and uses technology to maximum advantage.
- Operates abroad as well as at home. (Growth via overseas
expansion.)
- Sells products or services that don't become obsolete.
- Insiders own a large chunk of shares and have a personal stake in
the company's success.
- Company deliver strong returns on investors' capital, and managers
are committed to rewarding investors.
- Expenses are kept to a minimum, which makes the company a low-cost
producer.
- Company enjoys a dominant or growing share in a growing market.
- Company is adept at acquiring competitors and making them more
profitable.
- Company has a stong balance sheet.
(Source: The Davis Dynasty: Fifty Years of Successful Investing on
Wall Street, by John Rothchild.)
http://www.amazon.com/exec/obidos/ASIN/0471331783/zenway-20/