The S&P 500 index closed at 1136.43 and gold closed at $1642.50 per ounce today. I said before that this is not a market forecasting or predicting blog, and I actually really have no idea where the market will go from here. It certainly doesn’t look good. But I thought I would just highlight a…
Category: Uncategorized
What is Softbank Worth?
Now that we have a value of $32 billion for all of Alibaba Group (see previous post), we might as well look at the sum-of-the-parts or stub valuation of Softbank Corp. Softbank Corp. owns 32.6% of the Alibaba Group, and that’s worth $10.4 billion or 790 billion yen. Let’s look at all Softbank’s holdings. Softbank’s…
Alibaba Worth $32 Billion, Yahoo Worth?
Figuring out the value of Alibaba Group was a bit of a parlor game as Alibaba Group has dominant businesses that are not listed. Alibaba.com is the only listed entity in the group. The value of Alibaba Group is a crucial factor in determining the value of Yahoo Inc. (YHOO) stock. I posted Dan Loeb’s…
LUK Buys More Jeffries Group Stock
The CEO of Jefferies Group, Richard Handler sold 2 million of his shares to Leucadia National Corporation (LUK). This is not that particularly noteworthy but it does illustrate the sort of advantage a firm like Leucadia has. Although the price looks around market price and anyone could have bought JEF shares in the public market,…
Goldman Sachs is Cheap!
I talked about how great it is that people can buy BRK and LUK at book value, and that JPM is selling at or below it’s tangible book value per share even though JPM is capable of earning much more than 15% on that tangible equity. The markets are falling apart now and financials are…
LUK: Leucadia National at Book Value
A lot about investing is about finding the right people. If you can find smart people to run your money and just give them the money, that’s a good thing. This is why I like to follow companies that are run by outstanding management with a long history of outperformance. Of course, Buffett’s Berkshire Hathaway…
Buffett Editorial in the New York Times from October 2008
In the midst of the financial crisis in October 2008, Buffett published this editorial in the New York Times. I keep saying this won’t be a Buffett fan site or anything like that, but I do think this is an important editorial that applies today too and I thought I would post it here, ‘for…
Microsoft
Here’s a just a quick note on the cheapness of Microsoft (MSFT). Microsoft is a controversial stock; some feel it has great value and others feel it is a value trap, an old dinosaur on it’s way out. David Einhorn among other notable value investors have taken a decent stake in this company. The primary…
Berkshire Hathaway at Book Value?!
OK, I really have no intention of turning this blog into a Warren Buffett fan site or a Berkshire Hathaway (BRK) information aggregation/news site or anything like that. There are tons of those things out there and many are very well done. BUT, having said that, I can’t not mention an astounding thing going on in…
J.P. Morgan at Tangible Book
I was reading a recent issue of Grant’s (August 12, 2011) and he reminds us that J.P. Morgan Chase (JPM) is trading at close to tangible book value per share. He also quotes Jamie Dimon, one of my favorite CEOs as saying in April, “Your company earned a record $17 billion in 2010, up 48%…