Finding:

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   California Proposition 13 (1978)

   In the 2003 California recall election in which Arnold Schwarzenegger was elected governor, his advisor Warren Buffett suggested that Proposition 13 be repealed or changed as a method of balancing the state's budget. Schwarzenegger, believing that taking such a step would be to touch a political third rail that could end his gubernatorial career, said, "I told Warren that if he mentions Proposition 13 again he has to do 500 sit-ups."
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   Berkshire Hathaway

   As Buffett said in his 1995 shareholder letter: ... Schwarzenegger is later shown arguing in a gym with Buffett regarding Proposition 13.
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   Arnold Schwarzenegger

   He has talked about some of those who have helped him over the years in business: "I couldn't have learned about business without a parade of teachers guiding me... from Milton Friedman to Donald Trump... and now, Les Wexner and Warren Buffett. ... ↑ TV-commercial of Arnold Schwarzenegger against Proposition 66
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   History of private equity and venture capital

   Warren Buffett, who is typically described as a stock market investor rather than a private equity investor, employed many of the same techniques in the creation on his Berkshire Hathaway conglomerate as Posner's DWG Corporation and in later years by more traditional private equity investors. ... Because private equity had been booming in the preceding years, the proposition of investing in a KKR fund appeared attractive to certain investors.
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   Efficient-market hypothesis

   Among the skeptics is Warren Buffett who has argued that the EMH is not correct, on one occasion wryly saying "I'd be a bum on the street with a tin cup if the markets were always efficient" and on another saying "The professors who taught Efficient Market Theory said that someone throwing darts at the stock tables could select stock portfolio having prospects just as good as one selected by the brightest, most hard-working securities analyst. ... Despite a stronger case being evident for an efficient market, any test of this proposition faces the joint hypothesis problem where it is impossible to ever test for market efficiency, since to do so requires the use of a measuring stick against which abnormal returns are compared.
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   Efficient market hypothesis

   Among the skeptics is Warren Buffett who has argued that the EMH is not correct, on one occasion wryly saying "I'd be a bum on the street with a tin cup if the markets were always efficient" and on another saying "The professors who taught Efficient Market Theory said that someone throwing darts at the stock tables could select stock portfolio having prospects just as good as one selected by the brightest, most hard-working securities analyst. ... Despite a stronger case being evident for an efficient market, any test of this proposition faces the joint hypothesis problem where it is impossible to ever test for market efficiency, since to do so requires the use of a measuring stick against which abnormal returns are compared.
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   Hedge fund

   However, performance fees have been criticized by many people, including notable investor Warren Buffett, for giving managers an incentive to take excessive risk rather than targeting high long-term returns. ... Analysis of the rather disappointing hedge fund performance in 2004 and 2005 called into question the alternative investment industry's value proposition.
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   Security Analysis

   At bottom, Security Analysis stands for the proposition that a well-disciplined investor can determine a rough value for a company from all of its financial statements, make purchases when the market inevitably under-prices some of them, earn a satisfactory return, and never be in real danger of permanent loss. Warren Buffett, the only student in Graham's investment seminar to earn an A+, made billions of dollars by methodically and rationally implementing the tenets of Graham and Dodd's book.
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   Security Analysis (book)

   At bottom, Security Analysis stands for the proposition that a well-disciplined investor can determine a rough value for a company from all of its financial statements, make purchases when the market inevitably under-prices some of them, earn a satisfactory return, and never be in real danger of permanent loss. Warren Buffett, the only student in Graham's investment seminar to earn an A+, made billions of dollars by methodically and rationally implementing the tenets of Graham and Dodd's book.

Explore the following pages on Powerset:

• California Proposition 13 (1978),
• Berkshire Hathaway,
• Arnold Schwarzenegger,
• History of private equity and venture capital,
• Efficient-market hypothesis,
• Efficient market hypothesis,
• Hedge fund,
• Security Analysis,
• Security Analysis (book)