wescobrk

Well, no offense but I don't understand why there is so much confusion on this. This is like looking up the stock price. If people want to make adjustments in their analysis is one thing but figuring out the market cap is almost the most basic thing out there. Anyone can literally pull this up in two seconds. It's a public document. I don't understand how this can be screwed up!

Jonathan Heller is very lazy. All of his research apparently is to check yahoo finance. That guy is so lazy he can't take 2 seconds to check the sec filing.

How did you get this market cap? I see 10-Q showing that they've 1,227,928 outstanding. That comes to 466MM (yahoo shows the same). But Morningstar shows 543MM" Are you sure you are reading biglari holdings? The most recent q clearly states 1.43 million shares. Go to sec filings.

Sanjeev, For a bit light-hearted post... I'm ready for another update regarding the stock hitting tbv.:) How much longer? Maybe we'll see it with earnings next week?

This is a message from Obama that he is unhappy with anyone making more than 120k a year (that line about the government determining what is reasonable). This does absolutely nothing towards reducing the deficit. 9 billion over 10 years? We have over 75 trillion in liabilities and it is all from Medicare, Medicaid and ss. Obama said in the most recent debate that republicans (Romney) is against PBS because it raises virtually nothing rather it was more of a message of values. This is the same thing. This is Obama and him communicating a message that anything above 120k or 200k if you are single about it being unfair that they have that amount. I used to think he has been mostly reasonable but this truly is a dick move as another poster communicated.

Can Moynihan buy stock today or does he gave to wait till April 1st? As a side note, it'll be interesting to see how the stock reacts to the fed meeting minutes tomorrow. The last time the stock went down double digits. It would be nice to see if Moynihan can buy now below tbv or if he has to wait. Thanks!

My second call of no more than 5 billion (I was referring to the common) was right on the money. Parsad was wise not to take it.:)

17 of 18 passed only ally failing (no link saw flash frombloomberg)

So far no leaks. Jp leaked last year. I believe they are getting ccar results in private today. Is that correct? Public ccar is next thurs of course.

If you do happen do get into real estate, you should really read Real Estate: A Case Study Approach by William Poorvu (http://www.amazon.com/Real-Estate-Case-Study-Approach/dp/0137634838/ref=la_B001IGJM4U_1_4?ie=UTF8&qid=1362591079&sr=1-4). There is one chapter in there that is really great. Of course I can't remember the chapter number, but it's about a guy who owns 10,000 apartments and how he uses creativity and scale to keep his margins high and his properties looking nice. Really good stuff in those few pages. The book is only $0.01 used so it's hard to argue against it. Thanks! I just ordered it. Even with shipping and tax probably still cheaper than a drink at Starbucks.

Quote from: wescobrk on Today at 06:07:13 AM Has anyone read the other book he mentioned reading between the lines? If so, thoughts? I don’t know: just purchased it, after reading Buffett’s letter. I have read “Trust: Do Business with People You Can Trust” by Mrs. Rittenhouse and I liked it a lot. giofranchi Great minds think alike. I purchased the hard copy on amazon last night. I'll receive it Tues via prime. I guess it was partly rhetorical as I've never been disappointed by a book Buffett recommended although I seem to recall the book he mentioned he read about the gentleman that started state farm (had farmer in the title?) seemed me to boring but maybe that's just me. In buffets defense I don't think he recommended that one he just mentioned that he read it.

Has anyone read the other book he mentioned reading between the lines? If so, thoughts?

Still think we'll see tbv for BAC upon news of stress tests, Sanjeev?:) Even if we get to .90% tbv that is a 10% return from here.

I haven't seen a news release yet. I'm assuming we'll see Buffett's letter this Sat morning, right?

Thanks Sanjeev! Looking forward to the next 11!

A free site with great content and without the annoying ads that disrupt the content. Well done!

I haven't looked at the deal in detail yet. Where is Schroeder getting the 6% guaranteed return from?

Which, by accident, is $10 million in today's world adjusted for inflation. I'm very confident that he would pull it off. He was extremely talented and driven then already and now he has an additional 50+ years of experience to do the same in a somewhat harder market (questionable?). I would actually be surprised if he didn't get more than 50% annualized over a 5-10 year stretch unless markets became overvalued everywhere." That 70k is adjusted for inflation. He had about 10k and grew it to 150k in 6 years. As pointed out in the board, his partnership returns were "only" 30%.

Correction he went from 90k to about 1.4 million in 6 years not 10 or about 56 cagr

Buffett did average 50% a year from when he graduated high school till he started the partnership. He went from (in today's dollars) from 70k when he was 16 to about a million when he started the partnership, so maybe he can only do it with less than a million or around that number.

Quote from: wescobrk on February 08, 2013, 09:59:47 AM I made a small position in 2014 leap with Moody's today. A bit speculative but my expectation is 12 months from now focus will be back on the earnings power. High 30's operating margin and high 20's net margin, it's twice as profitable than McGraw. If it goes up when BAC goes down then even better for me. wescobrk, How are you defining that MCO is twice as profitable as MHP? Just a quick look, less than 5 minutes, comparing EV to TTM FCF I am getting 11.8 for MHP and 16.8 for MCO. TIA, Boiler Hi Boiler, Not on valuation but on per dollar of capital employed. I was wrong, operating margins (normalized, ex prospective lawsuits) operating margins are even better-mid 40's! Does anyone know of another company with higher margins?

I made a small position in 2014 leap with Moody's today. A bit speculative but my expectation is 12 months from now focus will be back on the earnings power. High 30's operating margin and high 20's net margin, it's twice as profitable than McGraw. If it goes up when BAC goes down then even better for me.

Haven't had a chance to research yet but plan to this weekend. Just curious if any one nibbling on McGraw after almost 30% correction?

To those that attended, how long did the Q&A last? Thanks!

For anyone that cares: http://www.sec.gov/Archives/edgar/data/93859/000092189513000215/ex992tos307428_02012013.htm