PERSON DIRECTORY
Byrne Hobart
Byrne Hobart appears in 8 indexed conversations across Yet Another Value Podcast. This directory brings every appearance, source, TL;DR, digest, and transcript into one searchable feed.
The Snowball (May 2025 Fintwit Book Club)
Early Buffett’s repeatable edge was “cigar butts plus control” or buying businesses amid company-specific distress, not simply owning mature compounders.Sanborn Map and Dempster Mill show activism and liquidation supplying the catalyst, while GEICO and The Washington Post illustrate crisis-created entry prices.Salomon and LTCM suggest crisis expertise could become valuable, but the missed roughly $3 billion immediate LTCM opportunity highlights execution risk.
March 2025 Fintwit Book Club: Diary of a Very Bad Year with Byne Hobart from The Diff
Expertise offered a probabilistic edge, not immunity from error, as the manager’s March 2008 calls show.Systemic crisis emerged when uncertainty over AAA collateral seized financial plumbing, while cheap funding scaled tiny credit-pricing errors into concentrated books.Hobart says AI economics do not support capex, though shorter asset duration may limit losses; peak spending could be depreciated by 2030 or 2031.