Investment Journal
Redfin: Technology Company or Something Else
Redfin describes itself as a "technology-powered residential real estate brokerage." From filings and transcripts: This ability to deliver better service at a lower fee is the fundamental source of our long-term competitive advantage and that advantage comes from...
Running the Five Largest Firms “With No Equity Capital”?
"I believe that probably the five largest American companies by market cap...they have a market value of over two-and-a-half trillion dollars...and if you take those five companies, essentially you could run them with no equity capital at all. None." - Warren...
Simple Businesses: Flooring Edition
In the near future, I would like to discuss my (and partially John's) approach to filtering by using the S&P 500. One company I was researching as I was thinking about my filters was Floor and Decor (although it isn't in the S&P 500). As a short introduction...
Seeking the Next Great Multi-Bagger
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...
The Importance of Patience; and Building a Great Company List
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...
Why Apple Isn’t Blackberry
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...