I totally agree with the premise of this video in that Warren Buffett has hedged his bets, by investing a great deal in high quality capital intensive businesses.  While this doesn’t mean he doesn’t have confidence in his successor, it would be foolish to believe that any investor could emulate Buffett’s track record, particularly with...Read More

We have T&T Capital Management have been saying for sometime now that companies that are dependent on China to propel their growth, particularly in the areas of  real estate, and other hard assets, are at risk and likely don’t warrant a peak earnings multiple.  China has gone on a spending spree that is unprecedented for...Read More

Barnes & Noble Inc. (BKS) and its Nook product became a lot more viable this morning, after Microsoft invested $300 MM into a subsidiary holding the Nook college books business.  The implied valuation of the entity is $2 billion.  I don’t think that the Nook would have lasted without a company with more clout and...Read More

Amazon (AMZN) reported extremely strong earnings last week aided by improving margins.  I believe that Amazon has one of the widest moats of any business, as infrastructure investments over the last 15 years, have built a distribution model that cannot be emulated.  Amazon is one of the all time category killers impacting retailers of all...Read More

Wallace Weitz of Weitz funds makes some excellent points in this letter.  He discusses some individual positions and has some excellent historical insight on the markets.  Enjoy: http://www.gurufocus.com/news/173183/weitz-funds-first-quarter-letter INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.Read More

Procter & Gamble (PG) reported disappointing earnings last week and cut its earnings forecast to $3.88.  PG is struggling in terms of their pricing as competition is stealing market share by being lower in price.  This in turn has PG on the defensive having to lower prices which obviously has a negative impact on margins....Read More

One of the investors that I admire most Prem Watsa, discussed his belief that RIMM can potentially right the ship.  RIMM is a cheap stock with an excellent balance sheet.  The company generates plenty of cash and has 77 million users.  They do have a lot riding on the Blackberry 10 coming out later in...Read More

It looks like due to all of the negative press coverage and the dropping share price, Chesapeake CEO Aubrey McClendon is agreeing to negotiate an early termination for a program that allows him to invest in new wells.  This really doesn’t seem like enough as he owes over $1 billion on these wells.  Chesapeake has...Read More

We’ve been documenting the resurgence in AIG and the absurd valuation that “Mr. Market” is placing on the stock.  Another key cog of that value is their stake in Maiden Lane III.  Once the Fed sells these securities to repay the loan the balance will belong to AIG.  This could be anywhere from $4-$7 billion...Read More

Lloyd Blankfein was interviewed on Bloomberg today and I though he made some salient points.  One thing that I thought he was right on about was the fact that while everybody is predicting dire returns on equity for financials including the investment banks, Goldman Sachs (GS) had a 12.2% ROE in the first quarter despite...Read More