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2015-05-22

  • The Science of Hitting commented on The Science of Hitting's article 05-22 05:24
    Walmart: With Help, I'll Be Buying More Soon
    I announced in early 2014 that I was initiating a position in Walmart (WMT) common stock. Since then, I haven’t had too much to say about the...
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    The Science of Hitting 05-22 06:24
    • Valuell - Fair question. The answer is that I wasn't an investor back then, so I wasn't purchasing anything in 2005; even when I did start (2007 or so), I wasted a lot of time chasing companies like solar panel manfuacturers that I couldn't understand before I finally started to recognize truly great companies like Walmart, PepsiCo, etc.

      In regards to your last comment ("it was much cheaper then"), consider the following: the stock has risen roughly 60% since 2005 (obviously depends on when you bought it); on the other hand, earnings (and FCF) per share, book value per share, the dividend per share, and the unit count, have all more than doubled over the same time period. So on those metrics, WMT looks better now than it did a decade ago. I'd be interested in hearing why you think it was much cheaper back then relative to today; thanks!

2015-05-21

2015-05-20

2015-05-18

2015-05-13

  • The Science of Hitting commented on The Science of Hitting's article 05-13 04:07
    Berkshire Hathaway First Quarter Results: Back on Track At BNSF
    Berkshire Hathaway (BRK.A)(BRK.B) recently reported first quarter results, but with limited recognition by the financial media (beyond headline...
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    The Science of Hitting 05-13 05:07
    • Tom - Agreed! I think a big part comes down to something relatively simple: not doing something simply because others are ("institutional imperative") or because you have cash lying around above "core" (or what many consider core: dividend + CapEx) needs. I've seen too many companies where excess cash - which likely means the economy is doing well, valuations are higher, etc - is sent to repurchases as a default activity; that's a setup that, by design, will not be optimal for continuing shareholders long term.

      Clearly all of that's just one component; he's a premier capital allocator indeed. 

      Thanks for the comment Tom!

2015-05-12

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