StockDuck13
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This is one of the more fascinating threads I've read in a while.. Sort of a "how to" discussion on building your own little Berkshire.
There is a Dairy Queen franchise in a small town near where I live that is not known for speedy or efficient service. But they are the only real ice cream shop in town and so they get an undeserved amount of business (they're essentially a monopoly).
I believe that with some retraining, a few staff changes, and some remodeling, it could be a very profitable business. Does anyone have any experience in this area that can contribute? I don't have a lot of money and would likely need an outside investor or substantial seller financing, not to mention actually buying the place from the owner. Any thoughts?
Have a good day if you want to,
Alex
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I recently started following his blog more closely and I've enjoyed it so far. It looks like he started Saber Capital pretty recently as his 2016 letter is the only one posted.
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I'm old school. Only read physical books and all 10-Ks (unless they're super short) get printed out. Shorter stuff (10-Q, investment write-ups, forums) are mostly read on my laptop.
Here here. I only read physical books (specifically paperbacks) and I try to get hardcopy reports from companies when I can. Out of curiosity, how many pages a month do you print and what does that roughly cost you?
I like my kindle a lot for books. It is not too heavy for extended one hand reading, you can change the typeface easily, is backlit so I can read at night without disturbing my spouse and I use the blue light filter. That said you can't share them and they have other drawbacks so I don't like paying more than ~$10-12 for kindle books.
I usually also buy hardback copies of books I read on kindle that I like and might re-read. I don't like paperbacks as they deteriorate too fast. Don't have a satisfactory system for financials. The kindle screen is too small, ipad air and mini are too heavy, and printing is too much of a production. Seems like a crap shoot as far as getting FIDO to send me the bound 10-Ks as well.
There are a few e-readers with larger screens you might be interested in:
Sony has one that is the size of an full sheet of paper (this is what I use): http://pro.sony.com/bbsc/ssr/show-digitalpaper/resource.solutions.bbsccms-assets-show-digitalpaper-digitalpaper.shtml
There are a few others like the Kobo One but none others (that I have seen) that are close to letter size.
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I'm curious to know how everyone prefers to do their reading. I know of some who like to print everything out/order hard copies of reports and I know others who prefer just reading it all on a monitor/laptop/iPad.
Which do you prefer and why? Do you find that you retain more by reading that way?
Also where do you like to read for long periods of time (ie. couch, chair, what have you)? How do you avoid neck/back pain?
I try to read mostly on my e-reader as I can't afford to be printing 10,000 pages a month yet. ;D
Thanks guys!
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Bit late here, but it looks like this guy's life got REALLY interesting last summer...
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Found it. See attached: 8)
Great interview. Thanks for posting. Seemingly simple strategy, yet rarely replicated.
I am a big admirer of Mecham and find that his strategy is the closest to what I want mine to eventually develop into. I love that he reads everything on physical paper. He will print out articles, reports, and research and read it all on paper. I think there's a big group of people who read and retain information better when read on paper vs. a computer screen. I found that I fell into this group and started looking for an ereader thinking that it was the closest to reading on paper while saving space and storing huge quantities of data. I ended up getting a Sony ereader since its screen is the same size as an 8x11 sheet of paper and had a sd card slot which I have taken full advantage of.
His strategy does indeed seem pretty simple. I guess college football offenses and investing have something in common: simple is better. His earlier letters have hints that his strategy has evolved somewhat since he started in 1999. It sounds like he invested more in small cap stocks then grew into bigger stocks as his fund grew. What he looks for in each group of stocks has remained the same though.
What are your thoughts?
Alex
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Found it. See attached: 8)
You're the man! This is awesome, thanks! :D
No problem! Let me know what you think about it. That large squirrelly position he is describing is his investment in Overstock.com back in 2006. I've attached the annual letter from that year below.
Have you implemented some of his strategies into your own process or did he mention something you do as well? I personally try to follow his keep it simple attitude and dedication to doing your own research.
Alex
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Found it. See attached: 8)
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Looks like the interview came out. Is there any way to view it without a Manual of Ideas subscription?
Alex
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kind of hilarious that it's been 6 months now. does it usually take this long for investment managers to respond to interview questions?
I agree, I've had the topic set to notify for roughly 4 of those months. Really excited about another interview with this guy though, I'm sure it's worth the wait.
Local businesses
in General Discussion
Posted
Thank you, it sounds like you've got some good experience (or know-how) in this area. Have you owned a franchise in the past?
I'm not sure how bad the negative feelings are since I don't live in that city nor have I been there in a long time (for obvious reasons). I have almost no expertise operating a franchise or shop so it's probably best that I don't pursue this idea, but that doesn't stop me from thinking about it.
Off the DQ topic, has anyone built a mini-Berkshire of small businesses?