by John Huber | Nov 11, 2020 | Investment Journal
One of Saber’s limited partners manages a mutual fund, and he recently told me his mistakes often come when he picks stocks of lower quality or more complex companies that look cheap, instead of paying a higher price for a great business. He calls this being “too...
by John Huber | Mar 6, 2020 | Ideas
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...
by John Huber | Aug 14, 2019 | Ideas
It's common sense that if you are lending money to someone for a decade, you are naturally going to want a higher interest rate than if you lend to someone who promises to pay you back in a few months. However, on certain occasions a strange phenomenon occurs: lenders...
by John Huber | Jul 2, 2019 | Ideas
Last week, the Federal Reserve published the results of their annual Comprehensive Capital Analysis and Review (CCAR). The CCAR and its cousin, the Dodd-Frank Act stress tests, are a big portion of the regulatory framework that the Fed uses to supervise the big banks...
by John Huber | Jun 13, 2019 | Ideas
I have spent a lot of time over the years discussing the large US banks. I've invested in them on a two different occasions over the past five years, and I think we are at a time where opportunity is knocking yet again. This time, I'm investing in Wells Fargo. I did a...
