Money and Finance
- Second Interview With Tim Klusas, President Of The Marketing Alliance, Inc.
Below is a link to a follow-up interview that my colleague, Matt Miller, conducted with Tim Klusas, President of The Marketing Alliance, Inc (MAAL.pk). The first interview Matt conducted with Tim occurred in October of 2009 (HERE). I also wrote an article...
- Eddie Lampert's Letter To Sears Shareholders
If one owns 10% of a company, or 1% of a company or .0000001% of a company, what matters is how that investment fares over time. A company worth $1 billion that doubles in value to $2 billion only doubles an owner’s investment if the number of shares...
- Bruce Berkowitz Stays In The Sunshine
Bruce Berkowitz must be disappointed that the current Olympic Games program doesn't include professional money management in the competition. If it did, the veteran stock picker's neck would be weighted down with gold right now. -Berkowitz is...
- A Portfolio Warren Buffett Would Love
As manager of the $6.8 billion Fairholme fund, which he launched in 1997, Bruce Berkowitz is on the hunt for undervalued companies with strong managers and plenty of free cash. Rather than building a traditional, diversified portfolio, Miami-based Fairholme—named...
- Calling Up Visa For Cash
Step one in the investment decision process lies in identifying companies that are high quality. Whether that's through their moats, their operational excellence, their cash generation, their growth prospects, their credit ratings, their dividend...
Money and Finance
Oak Value Fund - Letter to Shareholders
One of the most important factors we consider in making investment decisions is a company’s ability to generate cash, and we believe the Fund’s portfolio is filled with companies that either have buckets of cash or are generating it. At the end of the third quarter, the Fund’s top five positions were Berkshire Hathaway, Apollo, Medtronic, Praxair, and Diageo—each one of these companies throws off significant free cash flow. When we are analyzing a company as a potential investment, we spend considerable time thinking about how a company is likely to use its cash, for example, whether in the form of increased investment in the business, potential acquisitions, or share repurchases and dividends—not whether or not a particular company is likely to generate cash. Cash generation is not the order winner, it is the order qualifier.
-
....................
-
Related link: Oak Value Fund: Investment Adviser’s Review – Third Quarter 2008
-
- Second Interview With Tim Klusas, President Of The Marketing Alliance, Inc.
Below is a link to a follow-up interview that my colleague, Matt Miller, conducted with Tim Klusas, President of The Marketing Alliance, Inc (MAAL.pk). The first interview Matt conducted with Tim occurred in October of 2009 (HERE). I also wrote an article...
- Eddie Lampert's Letter To Sears Shareholders
If one owns 10% of a company, or 1% of a company or .0000001% of a company, what matters is how that investment fares over time. A company worth $1 billion that doubles in value to $2 billion only doubles an owner’s investment if the number of shares...
- Bruce Berkowitz Stays In The Sunshine
Bruce Berkowitz must be disappointed that the current Olympic Games program doesn't include professional money management in the competition. If it did, the veteran stock picker's neck would be weighted down with gold right now. -Berkowitz is...
- A Portfolio Warren Buffett Would Love
As manager of the $6.8 billion Fairholme fund, which he launched in 1997, Bruce Berkowitz is on the hunt for undervalued companies with strong managers and plenty of free cash. Rather than building a traditional, diversified portfolio, Miami-based Fairholme—named...
- Calling Up Visa For Cash
Step one in the investment decision process lies in identifying companies that are high quality. Whether that's through their moats, their operational excellence, their cash generation, their growth prospects, their credit ratings, their dividend...