http://seekingalpha.com/article/754421-update-on-telefonica-a-tale-of-two-worlds INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.Read More

This article discusses the merits of both Verizon (VZ) and AT&T (T) in this current low interest rate environment.  While both stocks offer attractive dividend yields, the multiples are quite high on both securities.  If you look across the pond to Europe an investor can find much more attractive payouts and earnings yields.  Obviously there...Read More

Carlos Slim didn’t become the richest man in the world by being afraid to invest in a distressed market.  Typical of Slim’s history, he is stalking some European telecom companies which are trading at distressed levels.  Many of these companies are large constituents of their respective stock indexes so the stocks tend to sell off...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

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