Money and Finance
Notes from Market Folly (notes from other presentations are on the site as well). In Omaha, Bruce Greenwald sat on a panel at Creighton University and also recommended Nestlé, saying that he thought it was the safest stock to own for the next 20 years.
- Links
Presentations from The Ben Graham Centre’s 2015 Value Investing Conference [H/T ValueWalk] (LINK) Nestle chairman: Heinz owners have 'pulverized' the food industry [H/T Matt] (LINK) The Apollo Asia Fund's Q1 Report (LINK) Horizon...
- Focusing On Expected Returns Instead Of Intrinsic Value…
Just tying a few related comments together from some recent things… From Sanjay Bakshi:I think it’s important for investors to think in terms of expected returns instead of fuzzy concepts like intrinsic value even though they may be functionally equivalent. There...
- Bruce Greenwald On Nestlé
Thanks to David for passing these along. Link ................... The video above is Part 2 of the Motley Fool interview. That video and the rest of them are linked to below: Part 1 (Investing overview) Part 2 (Nestlé) Part 3 (Apple)...
- Tom Russo Barron's Interview
Found via Canadian Value Investing. When it comes to industries like tobacco, beer, and spirits, few investors are better versed than Thomas Russo. A partner at Gardner Russo & Gardner in Lancaster, Pa., Russo manages $5 billion, including the $500...
- Oak Value Fund - Q2 Letter
Recent Purchases- Diageo - Diageo is the world’s leading premium drinks business with an outstanding collection of international brands across the spirits, wine and beer categories. Operating in some 180 countries around the world, the company has become...
Money and Finance
Notes from Tom Russo's Presentation at the Value Investing Congress
Notes from Market Folly (notes from other presentations are on the site as well). In Omaha, Bruce Greenwald sat on a panel at Creighton University and also recommended Nestlé, saying that he thought it was the safest stock to own for the next 20 years.
• SAB Miller, Pernot Ricard, Nestle, Berkshire: Total 4 above 28% of his portfolio. (total 70% international)
• High agency cost risk in public markets
• Used to speak of Weetabix (cereal company with family control) compound of 21%. Was worth £150MM then sold to Hicks use for £600 pounds
• Nestle saying Chinese companies are becoming players on the international front. Sure enough – food firm from China just bought this cereal company for £2,000MM
• Europe is where they are looking now
• Culture of Nestle has culture of centuries old Japanese temple – take the time to do it right: Nestle has 35 year planning horizon.
• Buying brands around the world that are strong and stable – Russo investing in companies’ which are investing across the emerging globe building brands and product lines.
- Links
Presentations from The Ben Graham Centre’s 2015 Value Investing Conference [H/T ValueWalk] (LINK) Nestle chairman: Heinz owners have 'pulverized' the food industry [H/T Matt] (LINK) The Apollo Asia Fund's Q1 Report (LINK) Horizon...
- Focusing On Expected Returns Instead Of Intrinsic Value…
Just tying a few related comments together from some recent things… From Sanjay Bakshi:I think it’s important for investors to think in terms of expected returns instead of fuzzy concepts like intrinsic value even though they may be functionally equivalent. There...
- Bruce Greenwald On Nestlé
Thanks to David for passing these along. Link ................... The video above is Part 2 of the Motley Fool interview. That video and the rest of them are linked to below: Part 1 (Investing overview) Part 2 (Nestlé) Part 3 (Apple)...
- Tom Russo Barron's Interview
Found via Canadian Value Investing. When it comes to industries like tobacco, beer, and spirits, few investors are better versed than Thomas Russo. A partner at Gardner Russo & Gardner in Lancaster, Pa., Russo manages $5 billion, including the $500...
- Oak Value Fund - Q2 Letter
Recent Purchases- Diageo - Diageo is the world’s leading premium drinks business with an outstanding collection of international brands across the spirits, wine and beer categories. Operating in some 180 countries around the world, the company has become...