Value Amidst the Blood in the Streets

Here is a passage from a note I wrote to Saber investors last week: "Be greedy when others are fearful" is the quote that is probably most often cited but yet rarely practiced in the stock market.  I rarely send out interim quarterly notes like this, and this is the...

Some Loose Leaf Notes on Earnings

"Earnings season" is very rarely any different for me than most other times of the year. One of the great things about owning quality companies is that they tend to be more predictable, and require far less maintenance. Not a lot changes from quarter to quarter. That...

Facebook’s Adaptability to Change

I wanted to share some quick thoughts on Facebook. Someone leaked the audio of a meeting at the company where Mark Zuckerberg took questions from various employees on a variety of matters. The Verge published the transcript of the Q&A, and the entire article is...