Money and Finance
- Charlie Munger On High Quality Businesses And Management
This is from Munger's speech "A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business". A couple of things that stood out to me reading it this time around, that maybe I didn't pay enough attention to before,...
- Stock Picks From The Experts
Jeremy, you've written that stocks will get cheaper. - JEREMY GRANTHAM: If you look back at 1982 and 1974, the market was much cheaper than it is today. In '74 it was about 40% cheaper, and in '82 it was about 60% cheaper. Look at the bad...
- This Too Shall Pass: Investment In The Integrated Oil Majors
There's been plenty written already about the decline in oil prices over the last 9 months or so. The per barrel price of oil has declined from $98.70 in June 2014 to $51.77 as of Friday's close. That's a 47.5% decline from the peak last year....
- Dwelling On Quality
In an oped in the FT two years back, Nick Train asks a great question - "what is the right price for quality shares?" That's a deceptively important and potentially difficult problem actually. Its important because of Munger's three laws of investing...
- When Second Best Is Better - The Case For Patient Quality Over Bravery (if You Have A Job)
Having a job is great, but its good to have extra income sources as well. A common one is to buy some rental property, but they have always seemed like a hassle to me. For one thing I do not have the handy man skills and for another my friends who do...
Money and Finance
Walter Robb on Whole Foods' Recession Lessons
Found via The Reformed Broker.
We realized in January or February of 2008 that we were too expensive, as people perceived it. The price-value thing was not where we needed to be, and we started losing business. Then you get to a question about what quality is worth to you. We have the highest quality standards in the supermarket industry, bar none. They are transparent. They are up there on the website. They’re years of work. There is a cost to food that’s produced in that manner. If it’s worth it to you, great. If it’s not, we understand. We are not all things to all people. You can buy cheap pink slime if you want and you’ll pay less, but you’re going to get what you get. So often people reduce the conversation to the simple price, when in fact it’s a more complex, multidimensional conversation about price and quality. We’ve brought prices down. And people are telling us at the checkout stand. They notice the effort, and they appreciate it, and they’re rewarding us with their business.
- Charlie Munger On High Quality Businesses And Management
This is from Munger's speech "A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business". A couple of things that stood out to me reading it this time around, that maybe I didn't pay enough attention to before,...
- Stock Picks From The Experts
Jeremy, you've written that stocks will get cheaper. - JEREMY GRANTHAM: If you look back at 1982 and 1974, the market was much cheaper than it is today. In '74 it was about 40% cheaper, and in '82 it was about 60% cheaper. Look at the bad...
- This Too Shall Pass: Investment In The Integrated Oil Majors
There's been plenty written already about the decline in oil prices over the last 9 months or so. The per barrel price of oil has declined from $98.70 in June 2014 to $51.77 as of Friday's close. That's a 47.5% decline from the peak last year....
- Dwelling On Quality
In an oped in the FT two years back, Nick Train asks a great question - "what is the right price for quality shares?" That's a deceptively important and potentially difficult problem actually. Its important because of Munger's three laws of investing...
- When Second Best Is Better - The Case For Patient Quality Over Bravery (if You Have A Job)
Having a job is great, but its good to have extra income sources as well. A common one is to buy some rental property, but they have always seemed like a hassle to me. For one thing I do not have the handy man skills and for another my friends who do...