priscilla

Considers the psychological influences and motivations of the financial decisions of the individuals.

Describes and updates the fundamentals of our investment in Ambev.

Analyses the reasons for the excesses of the stock option plans in US corporations, suggesting the use of restricted shares as a market pay method. Describes and updates the fundamentals of our investment case in Caemi.

Presents the main concepts of stock option plans, analysing this pay method in the light of the Brazilian capital market peculiarities. Also comments the success and the importance of the IPO of Natura.

Examines the remuneration systems of the companies, presenting a number of pay methods. Also comments the main fundamentals of our investment case in Ambev

Ludic license for celebration: By the time of the tenth anniversary of Dynamo Cougar, we submit Dynamo to its own criteria of investment analysis.

Describes the main features of the sophisticated mental and analytical device developed by Charlie Munger, employed in the process of selecting Berkshire Hathaway investments.

Discusses the topic of transparency of companies in the context of the economy, corporate governance, and the regulatory environment. Also analyzes the basis of the investment in Caemi.

Discusses the importance of tag along as an alignment of interests tool between shareholders, recommending it as a criteria of resources allocation for investors. Also comments on Warren Buffett’s vision of corporate governance of boards of directors, as stated in the Berkshire Hathaway annual report.

Analyzes the different aspects of the composition of boards of directors and the performance of their members, as elements that establish the governance of companies. Report 34