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2016 Q2 13F is out


mbharadwaj
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A guess: As inflation picks up, Walmart has a large employee base and reduced pricing power. This is the kind of thing stock nightmares are made of. Rising costs and pricing pressure. Buffett wrote the article How Inflation Swindles the Equity Investor. I think the key takeaway is that if you are to invest in stocks in these sort of periods the business must have pricing power and ability to contain costs. All other stocks will not be good inflation hedges. I always see this thing about stocks as great during inflation. The sentiment should read that a *specific subset* of stocks can do well, all others can do very poorly.

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It's interesting that T&T are investing in Liberties while Buffett talks against leverage. ;) I know, I know: Liberties are "good" leverage and T&T are independent. But still. ;)

 

Disclosure: I have positions in BRK and Liberties.

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They've been adding to Liberty Global and LiLAC recently and they bought Liberty Media at some point in the past, which resulted in the tracking stocks.  Interestingly, they sold some Charter.  One or both of the T's are fans of Malone, that's for sure.  So is Buffett.

 

Are you sure they've been buying the Liberties or are the changes in positions due to the nature of the tracking stocks?

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