Money and Finance
From The Brooklyn Investor blog (found via the Corner of Berkshire & Fairfax).
LUK is an Inflation Play
In answering the above question about the future of LUK, Steinberg said that they started first and foremost as opportunists. He then went on to say that LUK is now a bet on future inflation. As they wrote in the annual report, there is no way out of this predicament other than inflation. The assets owned by LUK; Inmet, Berkadia, Jeffries, Idaho Timber etc... all benefit when inflation finally comes.
He said that if you don't believe inflation is coming, you should sell your stock.
That's how LUK is positioned now. It wasn't some strategy or plan that led here, but that's the way it is now. The assets of LUK will benefit from inflation.
- Links
Today's Audible Daily Deal is well worth the $0.99 you pay for the audiobook (available until 11:59PM ET): The Little Book of Talent: 52 Tips for Improving Your Skills Drivers of ROE in the Context of Portfolio Management (LINK) Chris Mayer:...
- The Daily Princetonian Speaks To Paul Volcker
Link to interview: Q&A: Former Federal Reserve chairman Paul Volcker '49 DP: Pretty recently, some economists have suggested that the central bankers took [the threat of] inflation too seriously. PV: I’ll give you a simple answer. The responsibility...
- Charlie Munger On Future Inflation
I re-watched the talk with Charlie Munger at Harvard-Westlake (from January 2010) last night on DVD and thought Munger's inflation comment was worth mentioning. After talking about how he knew the derivative and mortgage mess was going to very badly,...
- Beating Inflation…
Via notes from Berkshire Hathaway’s 2010 Annual Meeting: Question: What are key metrics you look for on inflation, and catalysts for a future rise? Warren Buffett: You give me credit for more brainpower than I actually bring to the question. You can’t...
- November Dividend
Hello Reader(s), Time to report my November Dividend since everybody else is doing it. DE 10.20T 13.34AAPL 1.41ARCP 12.58KMI 9.24TIS 5.25LTC 3.57CORR 15.21Total:...
Money and Finance
Leucadia National Annual Meeting Notes 2012
From The Brooklyn Investor blog (found via the Corner of Berkshire & Fairfax).
LUK is an Inflation Play
In answering the above question about the future of LUK, Steinberg said that they started first and foremost as opportunists. He then went on to say that LUK is now a bet on future inflation. As they wrote in the annual report, there is no way out of this predicament other than inflation. The assets owned by LUK; Inmet, Berkadia, Jeffries, Idaho Timber etc... all benefit when inflation finally comes.
He said that if you don't believe inflation is coming, you should sell your stock.
That's how LUK is positioned now. It wasn't some strategy or plan that led here, but that's the way it is now. The assets of LUK will benefit from inflation.
- Links
Today's Audible Daily Deal is well worth the $0.99 you pay for the audiobook (available until 11:59PM ET): The Little Book of Talent: 52 Tips for Improving Your Skills Drivers of ROE in the Context of Portfolio Management (LINK) Chris Mayer:...
- The Daily Princetonian Speaks To Paul Volcker
Link to interview: Q&A: Former Federal Reserve chairman Paul Volcker '49 DP: Pretty recently, some economists have suggested that the central bankers took [the threat of] inflation too seriously. PV: I’ll give you a simple answer. The responsibility...
- Charlie Munger On Future Inflation
I re-watched the talk with Charlie Munger at Harvard-Westlake (from January 2010) last night on DVD and thought Munger's inflation comment was worth mentioning. After talking about how he knew the derivative and mortgage mess was going to very badly,...
- Beating Inflation…
Via notes from Berkshire Hathaway’s 2010 Annual Meeting: Question: What are key metrics you look for on inflation, and catalysts for a future rise? Warren Buffett: You give me credit for more brainpower than I actually bring to the question. You can’t...
- November Dividend
Hello Reader(s), Time to report my November Dividend since everybody else is doing it. DE 10.20T 13.34AAPL 1.41ARCP 12.58KMI 9.24TIS 5.25LTC 3.57CORR 15.21Total:...