awindenberger Posted April 12, 2016 Posted April 12, 2016 At the recent BH annual meeting, Sardar Biglari mentioned that all shareholders should read pages 610-611 in the 3rd edition to better understand how and why he would continue to buy back shares of the company. I have the 2nd edition, not the 3rd, so I was hoping someone with the 3rd would be so kind to post the contents, or at least the titles of pages 610-611, so i can match in my version. Thanks!
augustabound Posted April 12, 2016 Posted April 12, 2016 I've got it, but you can go to amazon and search inside the book. http://www.amazon.com/Security-Analysis-Classic-1951-Edition/dp/0071448209 Click the "Look Inside" pic. Search "Jackson Martindell" and click on page 610. I've read it over once but don't get it.
netnet Posted April 13, 2016 Posted April 13, 2016 Not a shareholder in BH or a believer in Biglari, but if in fact he said to read 610-611, that is pretty revealing. Basically, it says we insiders have our own agenda and the rest of you can f@#K off. "Thus on many counts the insiders are likely to look upon corporate policies in ways diametrically opposed to the interests and desires of the typical outside shareholder..." (augustabound, thanks for the search tip, never used it in the years I've been using Amazon and Look Inside.)
augustabound Posted April 13, 2016 Posted April 13, 2016 (augustabound, thanks for the search tip, never used it in the years I've been using Amazon and Look Inside.) I only figured that out while trying to help out here. :D But I saw someone post to Twitter that he said 615-616 as OracleofCarolina suggested. I'm also not a shareholder and don't trust Bigliar. pg 616 It follows that the responsibility of managements to act in the interest of their shareholders includes the obligation to prevent -- insofar as they are able to do so by proper corporate measures -- the establishment of either absurdly high or unduly low prices for their securities.
awindenberger Posted April 14, 2016 Author Posted April 14, 2016 Thanks guys, I seem to have gotten the page numbers wrong.
awindenberger Posted April 14, 2016 Author Posted April 14, 2016 (augustabound, thanks for the search tip, never used it in the years I've been using Amazon and Look Inside.) I only figured that out while trying to help out here. :D But I saw someone post to Twitter that he said 615-616 as OracleofCarolina suggested. I'm also not a shareholder and don't trust Bigliar. pg 616 It follows that the responsibility of managements to act in the interest of their shareholders includes the obligation to prevent -- insofar as they are able to do so by proper corporate measures -- the establishment of either absurdly high or unduly low prices for their securities. Amazon doesnt seem to want to allow me to view page 616! So annoying.
augustabound Posted April 14, 2016 Posted April 14, 2016 Amazon doesnt seem to want to allow me to view page 616! So annoying. I didn't scroll that far yesterday. I must have just been lucky with page 610-611.
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