In 1992, when Bill Clinton was running for president of the United States, and was asked whether he had ever smoked marijuana, he responded that he had, but that he did not inhale, reflecting the fear that being viewed as a weed-smoker would lay low his presidential ambitions. How times have changed! Today, smoking marijuana […]
In my last post, I looked at Apple and Amazon, as their market caps exceeded a trillion dollars, tracing the journey that they took over the last two decades to get to that threshold and valuing them given their current standing. While you can check out the stories that I told and the details of […]
For most of us, even envisioning a trillion dollars is difficult to do, a few more zeros than we are used to seeing in numbers. Thus, when Apple’s market capitalization exceeded a trillion on August 2, 2018, it was greeted with commentary, and when Amazon’s market capitalization also exceeded a trillion just over a month […]
In the last few weeks, the market capitalization of Apple and Amazon each hit a trillion dollars, a threshold not seen before in public markets. Predictably, that has drawn press attention and commentary about what this moment means for markets, investors and the companies themselves. As readers of this blog know, I have followed both […]
This has been a year of rolling crises, some originating in developed markets and some in emerging markets, and the market has been remarkably resilient through all of them. It is now Turkey's turn to be in the limelight, though not in a way it hoped to be, as the Turkish Lira enters what seems […]
After my last two posts in Tesla, I was planning to take a break from the company, since I had said everything that I had to say about the company. In short, I argued that Tesla, notwithstanding its growth potential, was over valued and that to deliver on this potential, it would need to raise […]
While political and trade wars are brewing around the world, centered on globalization, the enduring truth is that the globalization genie is out of the bottle, and no political force can put it back. Encouraged to spread their bets around the world, investors have shed some of the home bias in their investing and added […]
In my last post, just about four weeks ago, I valued Tesla, and as with all of my Tesla valuations, I got feedback, much of it heated. My valuation of Tesla was $186, in what I termed my base case, and there were many who disputed that value, from both directions. There were some who […]
There are lots of complaints that you can have about Tesla, but being boring is not one of them. It helps to have a CEO who seems to find new ways to make himself newsworthy, in good and bad ways. In fact, if Tesla were a reality show, the twists and turns in its fate […]
I am quoted in a Washington Post article: “Larry Culp’s Long To-Do List To Fix GE“. “Culp will need to decide whether to fix GE’s power division or scrap it. David Kass, a finance professor at the University of Maryland, thinks he should sell it because of its “substantial” underperformance. “The remainder of GE can […]
In this Jeff Bezos interview (1 hour and 9 minutes) the Amazon CEO quotes from Warren Buffett and explains why he bought the Washington Post which is now profitable and hiring additional staff by becoming a national and global newspaper via the Internet. Amazon located in Seattle, Washington so they could draw from the talent […]
In a Berkshire Hathaway news release on July 17, 2018, Berkshire’s Board of Directors announced an amendment to its share repurchase program. The earlier share repurchase program provided that the price paid for repurchases would not exceed a 20% premium over the then-current book value of such shares. Under the amended plan, share repurchases can […]
Warren Buffett was interviewed on CNBC on August 30, 2018, his 88th birthday. The 5 highlights were: (1) Stocks are currently more attractive than fixed income or real estate. Berkshire Hathaway is buying stocks every day including today. (2) Buffett recently purchased additional shares of Apple. The value of an iPhone to the user far […]
Today is Warren Buffett’s 88th birthday. Happy Birthday, Mr. Buffett! This blog was launched 8 years ago today on the occasion of Warren Buffett’s 80th birthday. I hope it has been helpful to all who have visited this site. (Note: Warren Buffett will be interviewed on CNBC from 11:00 – 11:15 a.m. EST today.)
According to The Economic Times, Berkshire Hathaway is in talks to acquire a $300 million stake (3-4%) in India’s Paytm. Todd Combs is leading the transaction for Berkshire. If this deal is closed, it would represent Berkshire’s first direct investment in India.
In an SEC 13F filing after the market closed today, Berkshire Hathaway revealed major changes to its portfolio as of June 30, 2018. The largest additions to its current holdings in its portfolio were: (1) Apple (AAPL): + $2.5 billion (14 million shares or 5.2%) (2) Delta Airlines (DAL) : + $500 million (10 million […]
FOR the 2018 year through to Oct 18, the Straits Times Index (STI) has generated a 6.7 per cent decline in total return, amid regional mixed moves that have ranged from a 4.9 per cent total return for the Nikkei 225 Index to a 25.2 per cent decline for China's CSI 300 Index.
CATALIST-listed oil and gas (O&G) Rex International intends to go the full nine yards of bringing its first two discoveries into production by tapping debt financing for its share of development costs.
WOULD you buy a currency that has clocked up a current-account deficit for almost 36 consecutive years, now topping US$11 trillion? A currency that is also weighed down by a fiscal deficit expected to hit US$1 trillion by 2020? A country that was the source of the 2008 global financial crisis, and yet, its debt […]
APPLICATIONS for United Overseas Bank's (UOB) consumer banking products can now be done entirely online, including deposit accounts, credit and debit cards, personal loans and secured loans such as car and home loans.
THE Singapore Exchange (SGX) on Friday reported a 0.4 per cent increase in its first quarter net profits from a year ago, boosted by a strong derivatives market as its traditional securities business suffered a pullback.