Wednesday, August 8, 2012

The Quality Enterprise, Part II

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As a follow up to this previous post , here's another excerpt from this GMO  white paper  on high quality companies* and their stocks: ...
Monday, August 6, 2012

Berkshire Hathaway's 2nd Quarter 2012 Earnings: Net Seller of Stocks

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Berkshire Hathaway ( BRKa ) released its latest quarterly earnings this past Friday. Some things that seem worth noting at first glance: ...
Friday, August 3, 2012

The Quality Enterprise

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From this GMO white paper : ...in 2004, we published our findings that investors had historically underpaid for the low-risk attributes of...
Wednesday, August 1, 2012

eBay's Free Cash Flow

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Here's the free cash flow of eBay ( EBAY ) from 2007 through 2011: 2007:  $ 2,187 2008: $ 2,316 2009:  $ 2,341 2010:  $ 2,022 2011...
Monday, July 30, 2012

Bogle: "The Tyranny of Compounding Costs" - Part II

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A follow up to this post .  Bogle: "Tyranny of Compounding Costs" I n the 1983 Berkshire Hathaway Annual ( BRKa )  Shareholder ...
Friday, July 27, 2012

Philip Morris International

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Philip Morris International ( PM )  is facing plenty of currency headwinds these days. From Philip Morris International's  2012 Second-Q...
Wednesday, July 25, 2012

Stock Returns & GDP Growth: Why There's Little Correlation

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A follow up to this  post : Why Growth Matters Less Than Investors Think Below is a specific example of higher GDP growth not leading to...
Monday, July 23, 2012

Driven to Trade

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Here's a recent Wall Street Journal  article  by Jason Zweig.  Zweig explores how much short-term thinking is part of our brain's f...
Friday, July 20, 2012

Negative Working-Capital Cycle

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The excerpt below is from an  interview in Barron's with Paul Isaac. In the interview, Isaac says he wouldn't buy  Amazon  (AMZN)...
Wednesday, July 18, 2012

Bogle: "The Tyranny of Compounding Costs"

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Apparently, hedge funds aren't doing so well this year. From this CNBC article  on hedge fund performance: They are supposed to be the...