petey2720

Interesting Article: http://www.chicagobusiness.com/article/20120720/EMPLOYMENT/120719687/marissa-mayer-will-change-the-world

Chicago, IL

SUNH...........more like small cap value

I assume you guys have probably read this at some point, but I figured this would be a good time to post: Walter Schloss interview with Barron's in 1985 Barrons_Article_2-25-1985.pdf

Heinz: Ketchup craze in Russia, China, not so much in the U.S. http://www.chicagotribune.com/news/la-fi-mo-heinz-ketchup-russia-20120217,0,2951537.story

I was just reading this last night and found it interesting......looks like we may be too late: (from the 12-31-2011 Oakmark Select Fund Letter to Shareholders) "We eliminated one holding, Bristol Myers-Squibb, and used the proceeds to acquire TRW Automotive. Bristol was a good long-term holding for the Fund, providing both capital appreciation and an above-average annual dividend. Last year, that dividend attracted the interest of yield-hungry investors and made it one of the Fund's best performers. Rather than paying a dividend, TRW has been using its cash flow to pay off debt. We consider debt repayment and share repurchase to be just as valuable to shareholders as a dividend, but currently dividends are more in favor. In July, TRW’s price was more than twice that of Bristol, but when concerns grew about a cyclical downturn in Europe, TRW stock fell sharply. During the past quarter, Bristol’s stock price exceeded TRW’s price. In our estimate, TRW shares are worth a lot more than their $33 price. We forecast that TRW’s EPS will exceed $7 within a couple of years, and with its debt paid down, the company will soon put that cash to work to reduce its share base, further increasing EPS." The link to the full letter is as follows: http://www.oakmark.com/opencommentary.asp?commentary_id=628&news_from=c&fund_id=4

Many on this board with small or larger resources have outperformed all mutual funds and all indexes over a few years. I learn from most everyone, even the most aggravating posters. It doesn't take very long to move from small to larger once you get a process that works for you. Uccmal, thank you for the above. I am banking on the last sentence!!!

Hey, I could not find their year end letter on their website. Can someone post a link. Thanks

I thought Pacquiao/Marquez 3 was a great technical fight as well. However, I can't help but think that Nacho Beristain (Marquez Manager) purposely was telling JMM he was winning the fight in the last 2 rounds which caused Marquez to cruise and not engage in the last 2 rounds. With the money involved in a Pacquiao/Mayweather fight the risk was too large for them to allow a chance of an upset in the fight with Marquez. I think Marquez was not involved in any shenanigans but his manager had to have been.

Worth a read. Aegis_Value_Fund_Letter_9-30-2011.pdf

"whitney is the Kim Kardashian of value investors." Well said!!!

Great article!!!! Thank you. Time to start keeping an eye on Goodhaven.

http://www.chicagotribune.com/business/breaking/chi-warrent-buffett-to-host-fundraiser-for-obama-in-chicago-20110921,0,2294.story

I disagree........Sokol was part of the mechanism that created the inside information. He should have only bought shares after Buffett passed on the idea.

I wish CNBC could have asked Sokol whether he owned any shares of Constellation Energy (CEG) prior to Berkshires announcement of their deal a few years ago during the financial crisis that ultimately fell thru. Also, I wish CNBC could have asked Sokol if he owned any shares in the company MidAmerican Energy bid on prior to the Lubrizol deal, that also ultimately fell thru and paved the way for the LZ deal. Perhaps the SEC will???

I really think he got canned. From Buffett's memo to the Berkshire Managers dated July 26, 2010 that was posted in the Annual Report: "If you see anything whose propriety or legality causes you to hesitate, be sure to give me a call. However, it’s very likely that if a given course of action evokes such hesitation, it’s too close to the line and should be abandoned. There’s plenty of money to be made in the center of the court. If it’s questionable whether some action is close to the line, just assume it is outside and forget it." I think this was way over the line. I think he should have only bought stock in LZ only after Buffett decided to pass on the acquisition.