This is a ChatGPT-free Zone
I don’t really spend too much time on market valuation, but I do think about it and post about it every now and then. Of course, debate about market valuation is pretty heated these days due to the super-high looking Shiller p/e ratio, high profit margins etc. I was reading through some old Buffett annual…
After watching a video of Carlos Brito pounding the table on the book, Good to Great by Jim Collins, I had to reread it. I read it years ago when it came out and thought it was a great book, but rereading it now, I enjoyed it even more. That’s because I’ve spent more time since…
As I was looking through the new lows list in the newspaper, I stumbled upon WL Ross Holdings Corp (WLRH). Wilbur Ross is a very successful distressed investor so I was surprised to see a listed entity with his name on it. This is a blank check investment company (or Special-Purpose Acquisition Company (SPAC)), and…
So with all of this talk of a market correction coming and people wondering what to do in this toppy market, Pzena put out an interesting newsletter back in June. It looks at value stocks and how they performed in market corrections in the past. They define value stocks as the lowest quintile of stocks…
Speaking of nanoo, nanoo, how about a nano-cap? There is some interest in small cap stocks as they tend to outperform over time, but small caps are now looking really expensive. So I was kind of surprised to take a look at this thing and notice that it’s not that expensive. Teton Advisors (TETAA)…
Alleghany (Y) announced earnings earlier this week; BPS is up +9.4% in the first six months to $451.65/share. The stock is trading at $417.70/share so is trading at around 0.92x BPS. The stock market is down 1.5% since then, so maybe less of a discount now. But it does look cheap. Interestingly, book value was…
OK, so I mentioned this book in my last post: Creativity, Inc: Overcoming the Unseen Forces That Stand in the Way of True Inspiration. This is written by Ed Catmull, one of the founders of Pixar. It’s always great to read something written by such an amazing person about an incredible business they…
This is going to be a wandering post, just thinking out loud about a few things that have been on my mind. I’ve been posting about “outsider” CEO’s and now about 3G Capital. They of course have a lot in common, but one thing is that these acquisitive CEO’s cut costs, and sometimes a lot….
So it’s been about a year since BRK and 3G Capital acquired Heinz (HNZ). This is old news to most of you as the 10-Q for the first quarter was posted more than a month ago. It is pretty amazing to read and you will see how incredible the 3G folks really are. To find…
OK, now that’s a silly idea. Coke (KO) is one of the most respected companies and known to be very well managed. It is an excellent company for sure. One great thing about running a blog is that I can just think out loud here and sometimes someone pulls on a thread and gets…