cubsfan

I've heard the FPA guys talk about ORLY a lot. I think they have the same take on it. Availability, delivery and network scale to provide immediately needed parts is the key. End customer doesn't get to price shop when mechanic buys it for them. Cost gets past through to customer. Mechanic needs to know they are going to get the parts fast.

Mondelez owns Cadbury

France, i believe

I love the Salt Lick - no place like it!

I'd agree, I think Tilson is a really decent guy. No doubt he has incredible energy and I think some people confuse that will being promotional. If you have ever emailed Whitney, I've found he gets right back to you and is very gracious. There is plenty to be learned from Whitney and he's generous with his time if you are a young investor.

Me too!

This little episode is reminding me of blowhard Michael Steinhardt trashing Buffett for firing his buddy Gutfreund: https://www.youtube.com/watch?v=RPZHWLlCNB4 Saw that one live too. Starts around the 2:30 minute market.

I've always liked David Winters, but he took all of this too far. He made such a big deal about dumping Berkshire stock last year over this Coke issue. He had to be the Coke activist that would shame Warren into action.

It just seems like Winters could never let this issue go. After Buffett explained himself last year at the annual meeting, Winters was PO'ed. And recently, Winter's has gone after him again. Buffett ripped him good on his fees and underperformance.

She also said he has had his daily calorie count calculated exactly and doesn't deviate.

If Buffett qualifies as the best investor of all time, based on his incredible and lengthy record, I find it hard NOT to call him a genius. There are some genius aspects to Buffett, like his incredible recall of facts and figures, his impressive mathematical skills, his reading skills, etc. He's a genius on many levels, IMO.

And what a fantastic job you have done Parsad - Thank You!

Ferrero would be beautiful. What do you think is a fair price - 10-12B Euros??

If he thinks he made a mistake or he found something much more compelling, then I'd absolutely want Monish to sell the position. He is not wedded to a long timeframe if these conditions occur. This is the real world, where he is managing real money for investors.

I think he has been pretty clear about this - he could make 25X his money on this position if it goes well, it could also turn out to be a zero because of the litigation risk - so it is sized accordingly.

Actually back in 2008 & 2009 he did a series of 3-5 calls that were extremely reassuring, given the crisis that was unfolding beginning in the summer of 2008. I wish he would do a couple of calls a year - other than his annual Wealth track interview.

It's only recently, last year or so, that he has been on his own. After Morningstar, he was running a unit of Sanibel Captiva with a lot of individual accounts. Now his focus is primarily institutional as I understand.

he actually did start a new fund http://blogs.wsj.com/moneybeat/2013/06/20/fund-star-from-crisis-looks-to-raise-money-again/ I really got that wrong! Thanks for setting me straight!

I don't think he is running a fund, other than his own money. He pretty much said as much, didn't need the headaches.

In addition to Wealthtrack, which I really like - I listen to most of the Manual of Ideas Podcasts: https://itunes.apple.com/us/podcast/value-investing-podcast-thought/id642016120?mt=2 MOI has in-depth interviews with value investors.

Depending on when you are coming in - there are several events. Here is a dinner with Tom Russo ($75) on Thursday night, in addition to an Investor Conference: http://www.valueinvestorconference.com

I've suggested the Ackman video to many beginners. It's excellent.

I like and own GENIX from Gotham. His problem will be the $250K minimum that is now required. Was much lower 2 years ago. For the "go anywhere" label - FPACX is a good choice - Romick is conservative and will do equities, bonds, land, where ever he thinks he'll get an equity-like return from any asset class.

Oh boy, after reading this thread, I'm really glad there are no females on this board. Sanjeev would probably have to shut it down.

Nice interview - thanks for posting. http://online.barrons.com/articles/buffett-disciple-mohnish-pabrai-on-bank-of-america-citi-google-and-hyundai-1418128642