Tuesday, June 30, 2015

Earnings Inflation: Why Some Tech Companies Earn Less Than You Think

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This Barron's article covers what it calls the "weird world where a wide range of technology companies...encourage investors to ig...
Tuesday, June 23, 2015

Buffett: Arcane Formulae & Foolish Maxims

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Warren Buffett wrote the following in his 1987 Berkshire Hathaway ( BRKa )  shareholder letter : "...investment success will not be p...
Tuesday, June 16, 2015

Mr. Market Revisited

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From the 1987 Berkshire Hathaway ( BRKa )  shareholder letter : "Ben Graham...said that you should imagine market quotations as comin...
Tuesday, June 9, 2015

Howard Marks: The Value of 'I Don't Know'

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Back in April on CNBC, Howard Marks complimented   what a previous CNBC guest had said that day: "I listened to your previous guest ...
Tuesday, June 2, 2015

Altria: Price Matters

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This article , written by Morgan Housel earlier this year, notes that $ 1 invested in Altria ( MO ) back in 1968 would be, with dividends, w...
Tuesday, May 26, 2015

Berkshire's Architect

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Last year, at the 2014 Daily Journal ( DJCO ) annual meeting , Charlie Munger said the following:* Berkshire has been a huge exception. In...
Monday, May 18, 2015

Berkshire Hathaway 1st Quarter 2015 13F-HR

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The Berkshire Hathaway ( BRKa )  1st Quarter 13F-HR was released yesterday. Below is a summary of the changes that were made to the Berkshi...
Wednesday, May 13, 2015

Multiple Expansion, Buybacks, & The P/E Illusion

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...if you expect...[total] rationality either in humans or human institutions, you're expecting what's not going to happen. - Charli...