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snowballbuilder

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  • snowballbuilder commented on Amber Harris's article 13 min ago
    20 Questions With Bill Nygren - Part II
    10. How did you begin your career as an investor and what steps did you take to become as successful as you are today? Also, what made you want to...
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    snowballbuilder 06-02 10:55
    • "When we evaluate managers, we are looking at strategic vision, operational skill, and financial skill. Rarely does one manager rank highly in all categories. Our funds have profited greatly from John Malone’s stewardship of the companies he has managed and many of their spin-offs. I believe John is top notch in all categories.

      My second favorite is not nearly as easy to identify. All of our managers excel in at least one of the above areas, and most in two of the three. One CEO that I don’t think has gotten the credit he deserves is Tom Lynch at TE Connectivity (TEL). Under Tom’s leadership TEL has dramatically improved margins, sold off non-core businesses at good prices and used proceeds to repurchase undervalued stock. He has also opportunistically shifted capital allocation between strategic acquisitions where TEL was an advantaged buyer, and share repurchases. While some economically sensitive companies are just now getting back to the peak levels they earned in 2007 (when TEL was spun-off from Tyco), TEL has almost doubled EPS while improving its business mix and still paying out a reasonable dividend." 

      I think that is a great answer on how evaluating management and how to find a shareholder oriented CEO . Great interview. 
  • snowballbuilder commented on David Goodloe's article 05-27 03:11
    Chuck Akre Invests in American Tower in First Quarter
    Guru Chuck Akre (Trades, Portfolio)’s only new buy in the first quarter – American Tower Corp (AMT) – was sufficient to make that stake the...
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    snowballbuilder 05-27 04:11
    • "Guru Chuck Akre (TradesPortfolio)’s only new buy in the first quarter – American Tower Corp (AMT) – was sufficient to make that stake the second-most valuable in his portfolio behind MasterCard Inc (MA)."

       

      thats not correct. Akre is invested in AMT since Numbers of years ago (probably around 20 years if you count also his old fund). Is not a new buy. 
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