The Case for Splitting Berkshire’s Class A Shares November 21, 2022 A stock split would have no effect on a Berkshire's intrinsic value, but could keep super-voting Class A shares in the hands of longtime shareholders.
Exemplars November 17, 2022 “If you rise high in a corporation or elsewhere in life, you have a duty to be an exemplar. You have a duty to take less than you deserve, to set an example.”
— Charlie Munger
The Role of Luck November 13, 2022 Never forget Lady Fortuna's influence: Good decisions can turn out poorly due to bad luck, and it is equally possible for terrible decisions to work out well due to good luck.
A Closer Look at Berkshire Hathaway’s Operating Income November 7, 2022 Berkshire Hathaway reported third quarter results on November 5, 2022. This article examines recent trends in the company's net operating income.
Ben Graham’s View of Unpopular Large Companies November 4, 2022 Ben Graham’s investing style was not one dimensional. In addition to bargain issues and special situations, Graham suggested relatively unpopular large companies as a source of ideas.
Thoughts on Monetizing Twitter October 31, 2022 Twitter should consider implementing a charge for account verification that is based on number of followers. Verification is likely to be much more valuable for large accounts with greater ability and willingness to pay.
Observations of a New Costco Member October 18, 2022 I recently became a Costco member as part of my research on the company. In this article, I discuss how I easily recouped the $60 annual membership fee on my first visit.
The Story of FedMart October 12, 2022 Sol Price founded FedMart in 1954 and pioneered the concepts that still drive the business model of membership-based discount warehouses such as Costco to this day.
Greg Abel’s Bet on Berkshire Hathaway October 7, 2022 Greg Abel has purchased 168 Class A shares of Berkshire Hathaway for $68.3 million. This article takes a look at Mr. Abel's decision in the context of his future role as CEO.
Lies and Deception October 1, 2022 Interacting with someone who lies is hazardous, whether in personal or business life. What can we learn about dealing with liars from 16th century philosopher Michel de Montaigne?
What I’ve Been Reading September 28, 2022 This post is a list of books that I read in the third quarter of 2022, most notably The Last Warrior, a biography of Andrew Marshall and The Deficit Myth by Stephanie Kelton.
Railroader: The Unfiltered Genius of Hunter Harrison September 20, 2022 The larger-than-life figure of Hunter Harrison is impossible to avoid for anyone who follows the railroad industry. Railroader is an interesting book about a fascinating man.
The Value of Hard Work September 13, 2022 Recent “quiet quitting” headlines mostly represent click-bait, but the decline in social mores regarding work ethic still have negative implications.
George Risk Industries September 8, 2022 A small manufacturer is massively overcapitalized but controlled by the founder's family. Shareholders are welcome to go along for the ride but may never see a catalyst.
Dempster Mill Manufacturing Company August 29, 2022 Dempster Mill Manufacturing Company, one of Warren Buffett’s early investments, was very profitable but profoundly influenced his approach to turnaround situations.