On Bad Academics & A Good Academic Argument for Concentration
I can’t vouch for much of academic finance. When it comes to this field, academics tell us all about beta, risk adjusted this and Sharpe weighted that. Though the reality of the situation is that finance and economics are not easily definable subjects with physics-like rules, academics try to prove otherwise, [...]
Buy ‘Em Back at Western Sizzlin’
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 [...]
Dissecting Western Sizzlin’ Corporation
You’ve got Berkshire; the king, the original, the Mecca. Investing in Berkshire Hathaway over the last 40 years has been like injecting rocket fuel into your portfolio, generating 20%+ returns since 1965 and, in the process, minting millionaires and loyal followers. However, nowadays Berkshire is getting so large that, by the laws of statistics, its [...]
Carlos Slim: Value Investor and Worldly Thinker
Value investing gets a pretty narrow rap. While, in essence, value investing should be defined as merely buying any asset for less than its worth, thus defining all intelligent investing, it often is just spoken of as buying equities with low PE ratios, low price to book ratios, and the like.
In reality, value investors [...]
Another Attack on Eddie
I read an article called “Sears majesty to hedge-fund dust” at the behest of a reader on the gurufocus message boards, and I have to say it is one of the most uninformed and incomplete articles I’ve ever read. There are so many misguided and shallow statements that it’s hard to know where you’d [...]
Another Attack on Eddie
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I read an article called “Sears majesty to hedge-fund dust” at the behest of a reader on the gurufocus message boards, and I have to say it is one of the most uninformed and incomplete articles I’ve ever read. There are so many misguided and shallow statements that it’s hard to know where you’d [...]
Of Toads and Princes: The Yahoo! Deal Falls Apart
I’d like to focus CoC mainly on intelligent investing topics- stock analysis, mental models, margin of safety and the like. That’s what we here at CoC love most. With that said, I can’t resist a comment on this Yahoo!-Microsoft nonsense.
My first reaction when hearing about this potential transaction was…huh? Take a terrific [...]
