Parsad Posted March 29, 2012 Share Posted March 29, 2012 A friend of mine is the vice-president of investments for a financial planning firm in Vancouver, and he arranged for Larry Sarbit to speak in their office this morning. I got to tell you, and I've known this for years, but he's a terrific guy and a great manager. The first thing that gives it away was that this lady walks up to him and says "Larry, I heard you speak several years ago..." and before she could finish he says "My sympathies!" I couldn't stop laughing! It was one rapid fire joke after another while he gave a terrific presentation on why he's been bullish on U.S. equities for the last three years. For example, he talked about his holding in Coinstar and he said: "Do you think that anyone walks up to the dvd rental at Safeway, looks at the Coinstar box and says..."I'm sorry, I really wanted to rent a movie today, but Greece is having some real problems." Of course not, it's so damn ridiculous! We look for businesses that have almost actual coupons attached to them based on their free cash flows. Businesses that will continue to grow and have durable, competitive advantages." Anyway, here is his updated performance track record, as he got chased out of Investor's Group and AIC for holding too much cash. By the way, he said that he thought starting his own firm was the best thing after all the problems he had at IG and AIC, "but then he realized he hated the manager!" Cheers! Larry_Sarbit_Performance_Record_-_1988_to_2011.pdf Link to comment Share on other sites More sharing options...
racemize Posted March 29, 2012 Share Posted March 29, 2012 out of curiosity, did he indicate if he was still bullish on US equities? Link to comment Share on other sites More sharing options...
Parsad Posted March 29, 2012 Author Share Posted March 29, 2012 out of curiosity, did he indicate if he was still bullish on US equities? Very, very bullish! He's 85% invested and looking for more cash because he's found many things he really likes. He said that in 2000 he was 85% cash and today he's 85% invested and almost all of it is in U.S. equities. Larry said there is something he held five years ago that they did really well on, and are in the midst of buying as much as they can. He said that mutual funds have limitations of 10% in any one investment, which he is totally opposed to, and would be happy to put 20% into some ideas. He mentioned the name John (maybe spelled Jon too) and then said I shouldn't say too much because we are buying it hand over fist. But it is growing at 20-25% a year and will for the next 5-10 years. From what I could dig up it looks like it could be one of two things: DTSI or Clear Channel. Anyone else have any ideas? He's still very high on Six Flags and Coinstar as well. He only had an hour, but he said there's another ten companies I can talk to you about. Then the handler from Clarington said we've got to get you to another meeting. He was very nice though as always, and was sticking around to talk to people, but they were putting his coat on for him and getting him out the door. Not sure why Larry never just had someone buy out his fund and seed him with say $150M in a hedge fund. His style is better suited to a fund, rather than a mutual fund. He did say one thing that you don't always hear. He said he likes things that are really simple to understand, because often "He just doesn't know!" He said the industry is full of egotistical managers who will never just say "I don't know", because their pride and ego won't let them. He said "At the end of the day, I'm just human, and there are plenty of things I don't know." Cheers! Link to comment Share on other sites More sharing options...
Guest Posted March 29, 2012 Share Posted March 29, 2012 Those S&P 500 numbers look off. Link to comment Share on other sites More sharing options...
Dorsia1 Posted March 29, 2012 Share Posted March 29, 2012 Those S&P 500 numbers look off. Perhaps adjusted for Canadian? Link to comment Share on other sites More sharing options...
Valuebo Posted March 29, 2012 Share Posted March 29, 2012 Thanks for sharing Parsad. Seems like a great guy. Link to comment Share on other sites More sharing options...
Myth465 Posted March 30, 2012 Share Posted March 30, 2012 Thanks for your sharing. Link to comment Share on other sites More sharing options...
Gopinath Posted March 30, 2012 Share Posted March 30, 2012 Sanjeev, do you think that's Iconix brands? It has been one of his holdings for a while.. He put 10% of his funds in that now. He owns ~ 3% of the company. The price of those shares are obviously cheap from where he bought,revenues growing north of 20%.. just a wild guess from my view! Link to comment Share on other sites More sharing options...
MrB Posted March 30, 2012 Share Posted March 30, 2012 On those numbers he compounded by 10% and the market by 7% Generally only 15% of professionals outperform the market and Bogle's research pegs 0.5% of fund managers outperforming by more than 3 percentage points, so he is right up there. Attached the calc's I ran and another I had lying around. sarbit.pdfSarbitTrackRecord.pdf Link to comment Share on other sites More sharing options...
berkshiremystery Posted March 30, 2012 Share Posted March 30, 2012 On those numbers he compounded by 10% and the market by 7% Generally only 15% of professionals outperform the market and Bogle's research pegs 0.5% of fund managers outperforming by more than 3 percentage points, so he is right up there. Attached the calc's I ran and another I had lying around. Thanks MrB,... for reminding us about Larry Sarbit performance. Forgot,... hasn't Sanjeev interviewed him once at the old MSN board. Link to comment Share on other sites More sharing options...
DCG Posted March 30, 2012 Share Posted March 30, 2012 Thanks for sharing Parsad. And great quote about Coinstar. I constantly think the same type of thing (about different companies) every time the media and moronic fund managers start freaking about about random things and selling everything they own regardless of whether specific events have any effect on underlying companies. Link to comment Share on other sites More sharing options...
Parsad Posted March 30, 2012 Author Share Posted March 30, 2012 Sanjeev, do you think that's Iconix brands? It has been one of his holdings for a while.. He put 10% of his funds in that now. He owns ~ 3% of the company. The price of those shares are obviously cheap from where he bought,revenues growing north of 20%.. just a wild guess from my view! No, it's not Iconix, because he said he was buying it presently and no one knew. So it wouldn't be on his filings or reports. Cheers! Link to comment Share on other sites More sharing options...
premfan Posted July 14, 2012 Share Posted July 14, 2012 This guy is great! Thanks for bringing him to my attention. Link to comment Share on other sites More sharing options...
Hawks Posted July 17, 2012 Share Posted July 17, 2012 Any other guesses what Larry's buying? Link to comment Share on other sites More sharing options...
mpauls Posted July 18, 2012 Share Posted July 18, 2012 A friend of mine is the vice-president of investments for a financial planning firm in Vancouver, and he arranged for Larry Sarbit to speak in their office this morning. I got to tell you, and I've known this for years, but he's a terrific guy and a great manager. The first thing that gives it away was that this lady walks up to him and says "Larry, I heard you speak several years ago..." and before she could finish he says "My sympathies!" I couldn't stop laughing! It was one rapid fire joke after another while he gave a terrific presentation on why he's been bullish on U.S. equities for the last three years. For example, he talked about his holding in Coinstar and he said: "Do you think that anyone walks up to the dvd rental at Safeway, looks at the Coinstar box and says..."I'm sorry, I really wanted to rent a movie today, but Greece is having some real problems." Of course not, it's so damn ridiculous! We look for businesses that have almost actual coupons attached to them based on their free cash flows. Businesses that will continue to grow and have durable, competitive advantages." Anyway, here is his updated performance track record, as he got chased out of Investor's Group and AIC for holding too much cash. By the way, he said that he thought starting his own firm was the best thing after all the problems he had at IG and AIC, "but then he realized he hated the manager!" Cheers! Great introduction, you could be a salesman for a FOF; lol. Link to comment Share on other sites More sharing options...
Parsad Posted July 18, 2012 Author Share Posted July 18, 2012 A friend of mine is the vice-president of investments for a financial planning firm in Vancouver, and he arranged for Larry Sarbit to speak in their office this morning. I got to tell you, and I've known this for years, but he's a terrific guy and a great manager. The first thing that gives it away was that this lady walks up to him and says "Larry, I heard you speak several years ago..." and before she could finish he says "My sympathies!" I couldn't stop laughing! It was one rapid fire joke after another while he gave a terrific presentation on why he's been bullish on U.S. equities for the last three years. For example, he talked about his holding in Coinstar and he said: "Do you think that anyone walks up to the dvd rental at Safeway, looks at the Coinstar box and says..."I'm sorry, I really wanted to rent a movie today, but Greece is having some real problems." Of course not, it's so damn ridiculous! We look for businesses that have almost actual coupons attached to them based on their free cash flows. Businesses that will continue to grow and have durable, competitive advantages." Anyway, here is his updated performance track record, as he got chased out of Investor's Group and AIC for holding too much cash. By the way, he said that he thought starting his own firm was the best thing after all the problems he had at IG and AIC, "but then he realized he hated the manager!" Cheers! Great introduction, you could be a salesman for a FOF; lol. Geez, could you lump me in with anything lower? ;D Cheers! Link to comment Share on other sites More sharing options...
mpauls Posted July 18, 2012 Share Posted July 18, 2012 A friend of mine is the vice-president of investments for a financial planning firm in Vancouver, and he arranged for Larry Sarbit to speak in their office this morning. I got to tell you, and I've known this for years, but he's a terrific guy and a great manager. The first thing that gives it away was that this lady walks up to him and says "Larry, I heard you speak several years ago..." and before she could finish he says "My sympathies!" I couldn't stop laughing! It was one rapid fire joke after another while he gave a terrific presentation on why he's been bullish on U.S. equities for the last three years. For example, he talked about his holding in Coinstar and he said: "Do you think that anyone walks up to the dvd rental at Safeway, looks at the Coinstar box and says..."I'm sorry, I really wanted to rent a movie today, but Greece is having some real problems." Of course not, it's so damn ridiculous! We look for businesses that have almost actual coupons attached to them based on their free cash flows. Businesses that will continue to grow and have durable, competitive advantages." Anyway, here is his updated performance track record, as he got chased out of Investor's Group and AIC for holding too much cash. By the way, he said that he thought starting his own firm was the best thing after all the problems he had at IG and AIC, "but then he realized he hated the manager!" Cheers! Great introduction, you could be a salesman for a FOF; lol. Geez, could you lump me in with anything lower? ;D Cheers! Whitney Tilson? Link to comment Share on other sites More sharing options...
Parsad Posted July 18, 2012 Author Share Posted July 18, 2012 A friend of mine is the vice-president of investments for a financial planning firm in Vancouver, and he arranged for Larry Sarbit to speak in their office this morning. I got to tell you, and I've known this for years, but he's a terrific guy and a great manager. The first thing that gives it away was that this lady walks up to him and says "Larry, I heard you speak several years ago..." and before she could finish he says "My sympathies!" I couldn't stop laughing! It was one rapid fire joke after another while he gave a terrific presentation on why he's been bullish on U.S. equities for the last three years. For example, he talked about his holding in Coinstar and he said: "Do you think that anyone walks up to the dvd rental at Safeway, looks at the Coinstar box and says..."I'm sorry, I really wanted to rent a movie today, but Greece is having some real problems." Of course not, it's so damn ridiculous! We look for businesses that have almost actual coupons attached to them based on their free cash flows. Businesses that will continue to grow and have durable, competitive advantages." Anyway, here is his updated performance track record, as he got chased out of Investor's Group and AIC for holding too much cash. By the way, he said that he thought starting his own firm was the best thing after all the problems he had at IG and AIC, "but then he realized he hated the manager!" Cheers! Great introduction, you could be a salesman for a FOF; lol. Geez, could you lump me in with anything lower? ;D Cheers! Whitney Tilson? Ppphhhttt! I just spat out my coffee. LOL! That was funny. Cheers! Link to comment Share on other sites More sharing options...
mpauls Posted July 19, 2012 Share Posted July 19, 2012 A friend of mine is the vice-president of investments for a financial planning firm in Vancouver, and he arranged for Larry Sarbit to speak in their office this morning. I got to tell you, and I've known this for years, but he's a terrific guy and a great manager. The first thing that gives it away was that this lady walks up to him and says "Larry, I heard you speak several years ago..." and before she could finish he says "My sympathies!" I couldn't stop laughing! It was one rapid fire joke after another while he gave a terrific presentation on why he's been bullish on U.S. equities for the last three years. For example, he talked about his holding in Coinstar and he said: "Do you think that anyone walks up to the dvd rental at Safeway, looks at the Coinstar box and says..."I'm sorry, I really wanted to rent a movie today, but Greece is having some real problems." Of course not, it's so damn ridiculous! We look for businesses that have almost actual coupons attached to them based on their free cash flows. Businesses that will continue to grow and have durable, competitive advantages." Anyway, here is his updated performance track record, as he got chased out of Investor's Group and AIC for holding too much cash. By the way, he said that he thought starting his own firm was the best thing after all the problems he had at IG and AIC, "but then he realized he hated the manager!" Cheers! Great introduction, you could be a salesman for a FOF; lol. Geez, could you lump me in with anything lower? ;D Cheers! Whitney Tilson? Ppphhhttt! I just spat out my coffee. LOL! That was funny. Cheers! lol. Seriously though, nice introduction. Link to comment Share on other sites More sharing options...
Guest Posted August 30, 2013 Share Posted August 30, 2013 Nothing ground breaking but here is a bit more http://greatinvestors.tv/video/whats-a-bargain-price-with-larry-sarbit-of-sarbit-advisory-s.html Link to comment Share on other sites More sharing options...
ASTA Posted August 30, 2013 Share Posted August 30, 2013 They have a 59 min video on moi will watch it today and see what they say :D Link to comment Share on other sites More sharing options...
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