This is a ChatGPT-free Zone
Here is a stub trade that doesn’t seem to get talked about much. I remembered that Renault owns a big chunk of Nissan and that it is very valuable. The talk a while back was that if you backed out Renault’s ownership of Nissan and Volvo, you can get the Renault auto business for free. Well,…
To continue the boring pattern of featuring companies with great track records being offered by Mr. Market at a discount, here is Alleghany Corp (Y), an insurance company/conglomerate. This currently looks like an insurance company but acts more like a conglomerate. This is one of those companies where the annual reports are very well written…
Apple Stock Price Since 1984 Apple’s stock was IPO’ed on December 12, 1980 at $22/share. On a split-adjusted basis, that’s $2.75/share. Apple closed yesterday at around $378/share for an annualized return of +17.8%/year. Pretty incredible given the long period that Apple went nowhere and did nothing (after they fired Jobs until he came back). The…
I couldn’t find a list of the nifty fifty stocks of the early 70’s and their p/e ratios to illustrate the difference between then and now, but I did find some lists with p/e ratios of some popular stocks back in 1972. I found this on the internet and just cut and pasted it (sorry…
We all know that we have to be greedy when others are fearful and fearful when others are greedy. Well, here’s an interesting chart: The VIX index: 1990 – Now I don’t intend to make market calls, bottoms and things like that. That’s really not my thing at all. But I will mention things when…
I might as well write about this old, classic sum-of-the-parts investment too. It’s well known in the value investing community, so nothing new here either except a fresh update. For those who this is new to, it’s a conglomerate that is run by the Tisch family. Of course, I think many people know Larry Tisch,…
Crude oil prices have been tanking recently with the stock market and other commodities. I just thought I’d mention an interesting thing about crude oil prices which might have some relevance for people looking at oil company stocks and oil price ETFs. The November 2011 contract for WTI crude closed today at $77.12, quite a…
OK, this is one of the oldest stub trades ever and hasn’t really been an exciting one. Marty Whitman of the Third Avenue Value fund has owned it forever. For those interested in actionable ideas right now, look at some of the financials. You can skip this post. Also, I’m sure many value investors have…
The Dow is down another 170 points this morning after being down 260 points yesterday. The market is apparently now in bear market territory (-20% from a high). Are we headed for a crash? Who knows. It may happen. Mr. Market is emotionally unstable so trying to guess what will happen is like trying to…
Warren Buffett always says that investing is simple, but not easy. This is very true. The essence of it all is very simple. To do it successfully is not easy at all. I always analogize it to losing weight. The answer is quite simple: Just eat less and exercise more. Alas, how many people can…