Circle of Competence

You are browsing the archives of 2008 June.

A great, but not surprising, piece of information was released today regarding Western Sizzlin’: share buyback authorization.
The 8-k filed today by the company tells us that Western Sizzlin’ has authorized Biglari to buy back up to 500,000 shares.  Doesn’t sound like much, until you consider that the company only has a total of 2,700,000 shares [...]

Just wanted to drop a couple of quick notes on two portfolio companies, Steak N Shake and Sears Holdings.
Re: Steak N Shake, they filed the 8-k today regarding the election of Sardar Biglari to Chairman, a move we mentioned last week.
In the filing, there is a small, but noticeable governance issue that has been resolved, [...]

Sorry fellas for the delay with the Fesitval, I’ve been away.  Don’t despair, the Festival is alive and well!
There were lots of great posts this week, ranging from stock analyses, to a book review from AlexG, to an fun aptitude test for Jae over at Old School Value.  Great job all.
First, some articles on personal [...]

I came across a terrific article today detailing Bill Gates’ step down from MIcrosoft.  It seems that Gates is entering philanthropy with the same zeal as he once had for personal computing.  He and his wife, Melinda, are targeting issues such as world health and education with decabillions in firepower.
The article today from Fortune speaks [...]

Tonight, after the close of the market, Steak N Shake Co. named Sardar Biglari the Chairman of its Board of Directors.
If you didn’t notice by the title of this post or my recent articles concerning the company, this is extremely good news for shareholders of Western Sizzlin’ Corp, of which Biglari is Chairman and CEO, [...]

We all know that intelligent investing works.  Finding businesses, analyzing their worth, paying less… The whole deal.  Even the academics have pretty much realized that they’ve been wrong.  You can only tack on so many sigmas.
But the burning question for so many investors is why.  Why in the heck isn’t this market, comprised of millions [...]

Hi Readers,
OK, so the move to the new site, with feedburner, didn’t go as planned.   Long story short, I messed up the feed moving it over and lost a big chunk of readers.  You’ll notice the counter went down to 24 readers.
If you are not subscribed, or if you had been subscribed from the old [...]