Taking on Kong (and His Brother)

“The stock market is a device for transferring money from the impatient to the patient.”  Buffett Doing research on a company that appears to be vastly more expensive than you would pay for it and then waiting might be one of the hardest things in investing.  Both...

Special Situationitis

There is a disease in the value investing community.  It can be deadly to your investment returns.  We have identified Patient Zero, however, there is no known vaccine and given the recent crackdown on pharmaceutical prices, we do not think a suitable one will be...

1/4 Rotation Around the Sun…..

You can read our earlier discussions of Taro here and here. Taro reported their quarterly results a few weeks back.  If I had to write three to five pages on their earnings results, I might tell a few stories to take up the first four pages.  There just is not that...

Sniffing out Special Situations: Bad Dog…..

We have a dog.  He sniffs a lot.  I don’t know what he is looking for.  He knows where his food is, why does he spend so much time sniffing?  Sometimes I feel like my dog, sniffing a lot when it is pretty obvious where the food is (great businesses at good prices in...