wescobrk

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

Can't find the release but saw a flash on bloomberg

Bruce also said he can't own more than 5% of BAC due to the 40 act rule.

Everyone is welcome to listen to the audio. He said he would love to talk about it but can't. He said they both feel that they are owed money from one another and that Bruce thinks they would settle. Why would Bruce say he would love to talk several minutes about it and then say "but I can't?" If we see any trading from him in the next few days in AIG or BAC that would clearly disprove that he has any material information.

I meant to say he appeared very relaxed. Aug fill on iPad can be annoying.

I was there. It was enjoyable. I didn't take many notes but I enjoyed Berkowitz's chat. He was very released and although I don't know the kind of shoes he had on he was dressed very similar to the Miami video. It was I'm the 20's and his shirt and informal attire looked the same. I didnt realize how funny he was. He was more entertaining than Klarman. For Aig fans and BAC he did say BAC is worth 40 in 5-7 years and Aig about 140 in 5-7 years. He didn't list anything this board hasn't covered. The one juicy question came about mbia and BAC litigation. Bruce said he would love to talk for 15 minutes about it but stopped and only said he can't discuss it (maybe material info) he said it would get settled but didn't give a time frame.

I signed up. Looks like fun!

Do you think we"ll get a big pop on BAC like last year?:)

Through end of Nov (latest avail although up quite a bit more in Dec) up 87% for 2012 in Roth (all due to BAC) and up 22% in taxable account (up more in Dec probably close to 30%) bought BAC later in taxable after price rose I'll never see 87% again so I'm going to enjoy it.:)

Breaking the 12 barrier on BAC probably Wed:)

I had to chuckle when Whalen said BOFA could double this year which would put it at fair value which is book on cnbc this morning. Didn't this guy write articles BAC would need capital and would be diluted? Of course, no one on the cnbc desk held him to account.

Sardar bought the final 2% this week of cracker barrell. He now owns the maximum amount without triggering the poison pill. He doesn't seem to mind about possible fiscal cliff and buying at lower prices nor that he lost 2nd proxy.

It looks like he'll get the 10 million cap for incentive even though after tax earnings were about 20 million so he effectively earned half of what the shareholders earned, is that right? If there wasnt a cap of ten million, I think he would have earned closer to 15 million but shareholders earned 20, or about 75% of what shareholders netted. Granted this is somewhat misleading because he has a huge amount of unrealized gains for shareholders, but I think those numbers are correct. I wonder what his chances of getting control of UNAM insurance company given the board controls over 53% of the stock.

No problem. I have a big debt of gratitude for your analysis on BAC. It has helped with my current allocation and, no doubt, nice profits in the future. I'm glad you're enjoying Cali.

Jeez, what's with the ad hominems on this board lately? Not making an argument it's bad just a question.