Money and Finance
- Safal Niveshak: Value Investing, The Sanjay Bakshi Way 2.0 – Part 2
For Part 1, which was a great overview on MOAT investing, go HERE. A big thanks to Vishal Khandelwal for doing these brilliant interviews. Link to interview: Value Investing, the Sanjay Bakshi Way 2.0 – Part 2Excerpt: As a disciple of Ben...
- Notes From A Meeting With Warren Buffett On November 15, 2013 - By Dr. David Kass
A big thanks to Peter for passing this along. My Alma Mater, Coastal Carolina University, also happened to be one of the 8 universities that attended the meeting. (11) You were the first person to use the term “moats” as competitive advantage. Morningstar...
- Investing In Sustainably Advantaged Businesses - Twst Interview With Larry Coats Of Oak Value
We define good businesses as those that we believe have the ability to produce predictable and growing excess cash. The predictability component is defined to a large extent by the company’s positioning relative to customers, suppliers, competitors...
- Warren Buffett's 2007 Shareholder Letter
Warren Buffett's 2007 Letter to the Shareholders of Berkshire Hathaway Inc.************Excerpt:-Let’s take a look at what kind of businesses turn us on. And while we’re at it, let’s also discuss what we wish to avoid.-Charlie and I look for...
- Why Moats Matter
Morningstar posted a great video overview of the five kinds of moats they use in analysis. It runs around 20 minutes and its well worth your time to listen in to hear from the analysts describes the moat types and how they use them to identify investment...
Money and Finance
"I feel like I'm having a black tie dinner on top of a volcano"
Quote from Johann Rupert on Richemont’s Q1 conference call (May 16th):
“Folks, I'm not -- they begged me, my colleagues, please don't say it, but I feel like I'm having a black tie dinner on top of a volcano, okay? That volcano is China. But that's what I feel like. I go in the morning, we put on our ties and our watches and we go, and the food is better and the wine is better, and the weather is great, but let's not kid ourselves. There is a volcano somewhere, whether it's this year, in 10 years' time or in 20 years' time. We are exposed to China. I think they're going to travel more. I think they're going to survive. I think all of these things. But we are now a China play. And it suits us if the euro gets weaker. It's everything that I would never have thought 10 years ago, but that really is our business. Personally, I don't think anything's going to go wrong in China. That's my view. But I know nothing, and I mean it. I may be too optimistic about China. But if you have differing views, remember, it's critical.”..................
He also mentioned Warren Buffett a couple of times in the same call:
"As we've said before, we're really in a business where we can wreck our own businesses. Mr. Buffett always talks about a moat, a moat around your business. Well, there's a big moat around a very well-run luxury goods business. I'm not going to wake up one day and find out that somebody has found a new way."
...
"Simply -- I think every manager's goal really is to make a company idiot-proof because sooner or later, an idiot will run the company. You've got to know that, okay? It doesn't matter what company in the world. So if you have likes Mr. Buffett said, you build moats, you build brand equity, you can withstand quite a lot of stupid things that we ourselves do. I'm not worried that somebody who is in another luxury goods company is going to think of something and that's going to kill our business. Whereas, if you're in the IT business or many, many businesses, it should keep you awake."
- Safal Niveshak: Value Investing, The Sanjay Bakshi Way 2.0 – Part 2
For Part 1, which was a great overview on MOAT investing, go HERE. A big thanks to Vishal Khandelwal for doing these brilliant interviews. Link to interview: Value Investing, the Sanjay Bakshi Way 2.0 – Part 2Excerpt: As a disciple of Ben...
- Notes From A Meeting With Warren Buffett On November 15, 2013 - By Dr. David Kass
A big thanks to Peter for passing this along. My Alma Mater, Coastal Carolina University, also happened to be one of the 8 universities that attended the meeting. (11) You were the first person to use the term “moats” as competitive advantage. Morningstar...
- Investing In Sustainably Advantaged Businesses - Twst Interview With Larry Coats Of Oak Value
We define good businesses as those that we believe have the ability to produce predictable and growing excess cash. The predictability component is defined to a large extent by the company’s positioning relative to customers, suppliers, competitors...
- Warren Buffett's 2007 Shareholder Letter
Warren Buffett's 2007 Letter to the Shareholders of Berkshire Hathaway Inc.************Excerpt:-Let’s take a look at what kind of businesses turn us on. And while we’re at it, let’s also discuss what we wish to avoid.-Charlie and I look for...
- Why Moats Matter
Morningstar posted a great video overview of the five kinds of moats they use in analysis. It runs around 20 minutes and its well worth your time to listen in to hear from the analysts describes the moat types and how they use them to identify investment...