by John Huber | Sep 18, 2017 | Investment Journal, Investment Theory
I recently was reviewing some notes I wrote while watching a presentation that Mohnish Pabrai gave, and I thought I’d share those notes here since I think the general concept underpinning his talk is worth thinking about. I am in the midst of going through all 3500...
by John Huber | Sep 5, 2017 | Investment Journal, Investment Theory
I thought I’d share a few brief comments on investment philosophy, as we begin the week. It’s a tough time finding value in the current market. When prices are generally high, I often take that as an opportunity to read about other companies and work on expanding my...
by John Huber | Aug 27, 2017 | Investment Journal
Apple reported earnings a few weeks ago, and as I usually do, I jot down some notes in a file each quarter on the companies I follow. I was reviewing my Apple journal and came across some notes I wrote a while back on Blackberry. This post would have probably been...
by Matt Brice | Aug 8, 2017 | Investment Journal
The beauty of Chipotle is the simplicity of the restaurant. Let's not complicate our analysis with anything more than a back of envelope sketching of its valuation. At roughly 2,350 locations, Chipotle is on track to do an average of $1.95m per location or...
by Matt Brice | Jul 27, 2017 | Ideas, Investment Journal, Special Situations
This post is too long. I will highlight a few things at the top as a sort of summary: Owner's Earnings is the best number to focus on when valuing a business. We often use shortcuts that are horrible measures of value (comparable valuation, Bull Shit Earnings...
by John Huber | Jul 18, 2017 | Investment Journal
JPM announced earnings on Friday. I thought I’d review some brief thoughts, since it’s a stock I’ve discussed previously (along with the other banks as well). I don’t really care to go over the details of the earnings report, as I tend to think about the business from...
