Bamboo Innovator Daily Insight: 3 May (Sun) – The Case Against Competing; Buffett Says Next Berkshire CEO Should Be More Than Stock Picker

Berkshire Hathaway 50th Anniversary

• Buffett Says Next Berkshire CEO Should Be More Than Stock Picker: Bloomberg
• What You Should – and Shouldn’t – Learn from Warren Buffett: WSJ
• Berkshire Shareholders Pepper Warren Buffett With Some Hard Questions: WSJ, Reuters, Fortune
• 50 Years of Warren Buffett in The Wall Street Journal: WSJ
• WSJ Recap: The 2015 Berkshire Hathaway Annual Meeting: WSJ
• 7 Takeaways From the Berkshire Hathaway Annual Meeting: WSJ

Life

• The Case Against Competing: HBR
• The Workhorse and the Butterfly: Ann Patchett on Writing and Why Self-Forgiveness Is the Most Important Ingredient of Great Art: BP
• JFK on Poetry, Power, and the Artist’s Role in Society: His Eulogy for Robert Frost, One of the Greatest Speeches of All Time: BP
• Creating values through horizontal leadership: Mayora Indah’s Ricky Afrianto is strengthening brand positioning and boosting sales by saying now to bureaucratic management constraints. JP
• 3 Steps to Break Out in a Tired Industry: HBR
• Mental Model: Bias from Overconfidence: Farnam
• Michael Mauboussin on Intuition, Experts, Technology, and Making Better Decisions: Farnam
• The Procrastination Doom Loop-and How to Break It: Atlantic
• The Art of Staying Focused in a Distracting World: Atlantic
• Mixed Signals: Why People Misunderstand Each Other; The psychological quirks that make it tricky to get an accurate read on someone’s emotions: Atlantic
• SurveyMonkey CEO Dave Goldberg Dies Suddenly at 47: WSJ

AsianExtractor: Unearthing Accounting Fraud in Asia

• Detecting Accounting Fraud in Asia (Part 4): Introducing Six New Measures: AsianExtractor
• Sihuan (460 HK) Updates on Audit Delay: Improper accounting treatment in consolidation trick of using MRAs (Market Research Agents) to exclude hidden sales and distribution expenses to artificially boost profits: AsianExtractor
• China Environment FY2014: Significant Deterioration in Receivables Collectability And No Provision for Impairment: AsianExtractor
• China Environment (SES: 50U, Bloomberg: CENV SP): Auditor Emphasis of Matter raises more questions on potential accounting tunneling risk: AsianExtractor
• Open Letter to SGX/MAS: Reply to CFO of SGX-Listed China Environment (CENV SP) on report “Potential Accounting Tunneling Fraud at China Environment?” – Address the accounting and governance concerns in an SGX/MAS announcement: AsianExtractor
• Does Auditor Explanatory Language in Unqualified Audit Reports Indicate Increased Financial Misstatement Risk? “Emphasis of matter” language predicts restatements + China Environment’s Auditor Emphasis of Matter: AsianExtractor

ASEAN

• Why Indonesia Is the Worst Performing Market in Emerging Asia; Indonesian stocks are the worst performing in emerging Asia and investors are starting to question its leadership. Barron’s

Macro

• Pension Funds Can Only Guess at Private Equity’s Cost; One study estimated that more than half of what private equity charges pension funds to manage their investments is not being disclosed. NYT

Healthcare

• Myriad Genetics Fights Off Threats From Rivals; Nearly two years after Supreme Court struck down gene patents, DNA testing firm fights to sustain business model: WSJ

TMT

• These photos Apple’s first employees showed us from the company’s earliest days are absolutely wonderful: BI
• Hands-Free Cars Take Wheel, and Law Isn’t Stopping Them: NYT
• The Myth of the High Growth Software Company; McKinsey analyzed more than 3,000 software and online-services firms from a 22-year period, finding that fewer than a third reached $100 million in revenue growth: HBR

Consumer & Others

• McDonald’s in crisis: can it fight off the Five Guys threat? New British CEO Steve Easterbrook set to unveil turnaround plan to bring back lost customers and profits as rivals muscle in on burger market: Guardian