Wednesday, August 26, 2015

Competition & Moats

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At the 2014 Daily Journal ( DJCO ) shareholder meeting Charlie Munger said :* How many big companies stay totally on top forever? Maybe W...
Monday, August 17, 2015

Berkshire Hathaway 2nd Quarter 2015 13F-HR

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The Berkshire Hathaway ( BRKa )  2nd Quarter 13F-HR  was released yesterday. Below is a summary of the changes that were made to the Berkshi...
Tuesday, August 11, 2015

Activists & the AmEx Buyback, Part I

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On Friday of last week, the news broke that ValueAct Capital Management, an activist hedge fund, had taken a stake in American Express ( A...
Tuesday, August 4, 2015

What's Gold Intrinsically Worth?

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For roughly a decade, starting in 2001 , gold prices performed extremely well. So fans of the yellow stuff will rightly point to that fact...
Tuesday, July 28, 2015

Hedge Funds: Balancing Risk & Reward?

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This recent article by Brett Arends points out hedge funds have not performed all that well this year. The same goes for recent years. Ar...
Tuesday, July 21, 2015

Analyst Ratings: When It Pays To Do The Opposite

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According to this Barron's article , the highest rated stocks by Wall Street analysts between 2002-2014 collectively returned 9.5%. So...
Tuesday, July 14, 2015

Buffett & Munger: Embracing the Unconventional

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"Develop your eccentricities while you are young. That way, when you get old, people won't think you're going ga-ga." - Da...
Tuesday, July 7, 2015

Portfolio Diversification: What's the Right Amount?

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Portfolio diversification, something I briefly covered toward the end of this recent post , is an investment topic that necessarily leads to...
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...