Thank you for the Buffettology retrospective - I didn't know about the Blue Chip Stamp portion of the See's Candy ownership...need to go back and read the Buffett oeuvre. The Wikipedia article on Blue Chip led me to the 1983 Buffett Letter: www.berkshirehathaway.com/letters/1983.html One question: at what point do fund managers consider purchasing entire companies? Just if it's within their circle of competency, as it clearly is for Buffett & Munger?
I love the idea, but banks have never been my thing. Lots of smart investors are successful with them (incl Buffett and Munger), but they seldom meet my return on capital (or equity for a bank) criteria. To be comfortable I'd have to have a sense of their base rates: how many get bought out over the following few years, how much the average co improves its earnings and ROE, etc... I haven't done that work, so I don't have comfort with the class of stocks. Some others coming to the market for the first time are FFBW Inc. and Seneca Financial. Oh, to have been a depositor there...
Amazing video and keep up the good work! It´s very frustrating with markets near all time highs and falling earnings, the market is way too expensive. I think because of the high valuations in the last few years a lot of value investors lowered their standarts which is why they performed so badly last year. I´m thinking of guys like Einhorn, Sequoia and Ackman but I think Bill´s biggest problem is his own ego :D I hope you get what I am trying to say, german is my native language :)
best play in 2016 is commodities, buy beaten down mining and energy stock. thank me later. sell naked puts against those companies for more returns. FCX, MUX, ABX, CHK..
Thanks Bob! I've been leery of doing any more in commodities (I realize this makes me one of the folks creating the opportunity), but I have been impressed with how many commodities started rising before February. I hope you make a boatload!
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Lowering your standards is a sure way to lowering your returns many times to below zero.I am exhibit A on that strategy.
Thank you for the Buffettology retrospective - I didn't know about the Blue Chip Stamp portion of the See's Candy ownership...need to go back and read the Buffett oeuvre. The Wikipedia article on Blue Chip led me to the 1983 Buffett Letter: www.berkshirehathaway.com/letters/1983.html
One question: at what point do fund managers consider purchasing entire companies? Just if it's within their circle of competency, as it clearly is for Buffett & Munger?
Thanks! I love the Lowenstein and Schroeder books - chock full of those tidbits.
Excellent video
any thoughts on thrift conversions? two have recently filed prospectus, heritage Nola and eagle financial
I love the idea, but banks have never been my thing. Lots of smart investors are successful with them (incl Buffett and Munger), but they seldom meet my return on capital (or equity for a bank) criteria. To be comfortable I'd have to have a sense of their base rates: how many get bought out over the following few years, how much the average co improves its earnings and ROE, etc... I haven't done that work, so I don't have comfort with the class of stocks.
Some others coming to the market for the first time are FFBW Inc. and Seneca Financial. Oh, to have been a depositor there...
Model the masters :) #BTA111
Amazing video and keep up the good work! It´s very frustrating with markets near all time highs and falling earnings, the market is way too expensive. I think because of the high valuations in the last few years a lot of value investors lowered their standarts which is why they performed so badly last year. I´m thinking of guys like Einhorn, Sequoia and Ackman but I think Bill´s biggest problem is his own ego :D I hope you get what I am trying to say, german is my native language :)
best play in 2016 is commodities, buy beaten down mining and energy stock. thank me later. sell naked puts against those companies for more returns. FCX, MUX, ABX, CHK..
Thanks Bob! I've been leery of doing any more in commodities (I realize this makes me one of the folks creating the opportunity), but I have been impressed with how many commodities started rising before February. I hope you make a boatload!
your videos are good but why do you take so long to get to the point