Talk at Markel and Some Quick Thoughts

A few weeks ago, my good friend Saurabh Madaan (a former Googler who now works at Markel with Tom Gayner) invited me to come to Richmond to chat about a few investing ideas with Mr. Gayner and a few other “Markelers” (if there are Googlers, why can’t...

Buffett’s Blind Spot

I started re-reading Snowball over the holidays.  If you haven't read it, you should and if you haven't read it in a few years, 2018 might be a good time to pick it up again.  I joke with John that reading Snowball annually is similar to a Christian re-reading the...

Two Earnings Updates and Portfolio Commentary

I thought I'd update members on a couple stocks that could use an update. First, the good news: I'm not one for putting much weight on any particular quarter, but Tencent is doing incredibly well, and there latest numbers were pretty amazing. When you zoom out, and...

One of the World’s Widest Moats

Last month, I did a presentation for the Manual of Ideas (a value investing website/community) on Tencent, which is a dominant internet company in China with one of the widest moats that I've ever studied. Saber Capital owns shares in Tencent, and while the stock...