Below is an excellent interview with Donald Yacktman of Yacktman Asset Management Co.  His long-term approach to money management is an excellent example for any investor, and his thoughts on stocks such as Hewlett Packard (HPQ) and Research in Motion (RIMM) are worth reading.  Enjoy! http://www.gurufocus.com/news/187901/donald-yacktman-interview-with-gurufocus INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE...Read More

Hewlett-Packard reported decent earnings this week but the most disappointing aspect of the results was the dismal performance of their recently acquired software company Autonomy.  Sales were down and they are removing the companies CEO already.  This was one of the worst and most value destructive acquisitions that I’ve ever seen because of the ridiculous...Read More

While we never want to hear of massive layoffs unfortunately in a capitalistic economy it is sometimes necessary.  It seems that Meg Whitman is taking the drastic steps that are necessary to revitalize HPQ, and make them a lean enough enterprise to right their financial ship.  HPQ has some strong businesses with adequate returns on...Read More

Over the weekend Third Avenue Funds released their quarterly commentary, which always includes wonderful commentaries from their fund managers let by their Chairman Martin Whitman, whose investment philosophy as articulated by his shareholder letters and books, have become a  key component to our core value investing philosophy at T&T.  Whitman is unique in that he...Read More

On December 19th I sent out an email discussing the unbelievably cheap valuations that we were seeing, which you can see from the forwarded email below.  This is just a quick update on how they are faring.  The point is not to get overly excited, just as we don’t want to get overly pessimistic when...Read More

With 2011 coming to a close I think it is very important to lay out our views going into 2012, and how that will affect our investment strategies.  2011 was a very difficult year that saw some of the most successful investors Warren Buffett, Bill Gross, Bruce Berkowitz, John Paulson, Martin Whitman, among many others...Read More

Today we had our Monday Morning Investment Meeting, and as a firm we are amazed at the valuations that we are finding.  Below you’ll find a sampling of some of our largest positions moving into 2012.  Never before has it been so easy to find profitable companies, where earnings are likely to grow, at a...Read More