hi guys, here are real quick ramblings. I would imagine others will post more concise notes. 1. "Buffett took Graham to the next level.'2. 5 to 8 securities account for greater than 80% of his portfolio. ( I wonder what his turnover is)3. Preference for ebitda - maint cap exon average ebit is the same, but not always the same as above.4. first few things he looks for in 10Ka. returns on tangible capitalb. ev/ebitc. 10Ks are boringd. like searching for a buried treasuree. if looks like finding a buried treasure, 10k's become exciting.5. "don't look at the macro world."6. Sometimes he spends lots of time researching before buying, sometimes they pounce quickly, "ready, aim, fire."7. he met lots of management. he always said the management seem like nice guys. thats why he prefers financials.8. always try to figure out human nature. if insider is making big salaries, and also selling lots of shares, then there very well could be something not so great.It was a nice event.peacebgmhis magic formula includes, EBIT / (Net working capital + Net fixed assets.I need to study the definition of "Net Working Capital."