Francis Chou's annual report for his Canadian-based funds has been posted on his website. You can go here to download it.
His annual report for his much-newer American-based funds can be found by going here.
I haven't read it in any detail yet, but will over the next day or so.
For those unfamiliar with Chou, he's among the best value investing money managers around. He used to work with Prem Watsa at Fairfax Financial Holdings. His profile has been pretty low in the US -- outside of those tracking value managers -- but that may change with the introduction of two mutual funds available to retail investors south of the Canadian border.
I know this places me outside the mainstream -- but I am much more eager to read Chou's letters to shareholders than to read stories about David Sokol leaving Berkshire Hathaway.
Why? Because I'm much more likely to find investment ideas reading Chou -- and Tim McElvaine -- than by following the heard fascinated by moves within Berkshire.