This is a ChatGPT-free Zone
OK, so this is another extension of the footnote to the book post. Someone mentioned in the comment section that Colfax (CFX) is the younger analog to Danahar (DHR) and it is owned by some Tiger cubs and BDT Capital, a firm run by Byron Trott (Buffett’s investment banker). Here’s the 2013 ownership section from the 2013…
OK, so I’ve known about Henry Singleton and Teledyne for a long time. Buffett has said that he was the greatest capital allocator of all time. Since I read the outsider CEOs book I got to thinking about Teledyne again. I am embarassed to say that I have the book, Distant Force: A Memoir of…
So this is sort of a footnote to the previous post about a really great book. (The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success. ) In chapter one (page 34), Thorndike mentions the TransDigm Group (TDG) as a contemporary analog for Capital Cities. TDG has grown cash flow at 25%/year since…
This is old news as this book was recommended by Warren Buffett in Berkshire Hathaway’s 2012 annual report. I knew it was going to be a great book, but it was sitting in my big pile all year until this past weekend. Once I started reading it, I couldn’t put it down. Not surprisingly, it…
So Liberty Media (LMCA) had their investor day last week. I wasn’t there but the investor day webcast is available with a slide presentation at the LMCA website. There was some fun stuff in the beginning (with a disturbing slide of Greg Maffei doing some sort of dance) and then Maffei (LMCA), Meyer (Sirius XM), Rutledge (Charter)…
So this valuation thing has been nagging at me all weekend so I just decided to take a quick look at something. Since the S&P 500 index is too big and unwieldy and I don’t have access to data, I just decided to take a look at the Dow. Last time I looked at margins…
For the record, I do agree with Stanley Druckenmiller who said the other day on Bloomberg TV (or CNBC) that the Fed blew it by not tapering. It was in the market already that they would so it was a freebie. But anyway, the market has been obsessed with tapering lately. The Fed is buying $85…
So Third Point Reinsurance Ltd. (TPRE) filed their S-1 recently. This is basically part of a move by hedge funds to seek ‘permanent capital’, like Einhorn’s Greenlight Re (GLRE). The insurance business is only ramping up now so there isn’t much to chew on in terms of analysis. Like GLRE, the key is going…
So I did make it to the Leucadia National (LUK) annual meeting this year. As usual, these aren’t comprehensive notes or anything like that. These are just some loose notes on certain things. I didn’t take detailed notes so some things might be a little off here and there, but I don’t think I…
Banks/financials have been announcing earnings and they have been looking pretty good even though there is debate about the quality of some of the earnings (reserve releases etc.). There is a lot to talk about but I just thought I’d make a quick update on Wells Fargo (WFC) and J.P. Morgan (JPM) as I have…