Some investors think a business is good, but know that management is bad. These investors justify the investment based on the idea that the great price of the business is worth the bad management. This is akin to marrying a supermodel who is going to yell at you all day. Whatever pleasure your eyes may derive from the marriage, your ears will endure a greater amount of pain in the long run. The pocketbooks of those partnering with bad management are likely to see a similar 50%+ decline in their net worth.
I enjoy the Reese’s Peanut Butter Eggs. They are on sale during Easter as are other shapes on different holidays (christmas trees, etc). Fortunately, I don’t care if I eat them before or after Easter, so I know I can always get a discount the day after Easter. On the
In honor of a certain announcement out of Cupertino tomorrow, see this great video of Steve Ballmer’s commentary shortly after the introduction of the iPhone. He mentions the Motorola Q as being a great phone in the market place and how the Zune has taken 20%-25% of the portable listening market (the
The story of Rose Blumkin (“Mrs. B.”) is almost legend at this point in the study of value investing and Buffett. Her story is quite amazing if you have never read it. Featured in both biographies of Buffett (The Making of an American Capitalist and Snowball). Buffett’s due diligence and
I always enjoyed listening to Paul Harvey and his radio segments, The Rest of the Story. I don’t have his voice or his patience for crafting an elaborately detailed, yet masked story, but… It’s the early 1970s and a young man owns a textile business in the northeast. He wants
Football is big in Ohio. Lots of traditions revolve around football: tail-gating, homecoming parades, pep rallies, and Powder Puff Football. For those who did not have the pleasure of enjoying this great classic of american life, Powder Puff Football is an all girl flag-football game, typically between the Senior and
I love these signs. People in my local Kroger stare at me when I take these pictures, but I am going to keep doing it. Halloween candy, Easter candy, back to school supplies, summer/pool toys, pumpkin pies, the list could go on. I am always amazed at the discounts available
Previously, I discussed why I do not use screens. What’s the alternative? I believe one option, although I am not dogmatic enough to think it is the only one, is to put together a list of potential investments using a “telephone book approach”. Starting with the As, you would go