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Thomas Macpherson  Thomas Macpherson

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  • Robert Abbott 2015-06-08 16:42
    Thomas Macphers: Hi Bob. Thanks so much for your very kind note. First, let me say good luck on your new venture. I hope it is everything that will make you happy and
    Omaha sounds like a great idea. Best wishes, Bob
  • Robert Abbott 2015-06-07 19:38
    Hi Tom - I'm about to take a break from writing, with a temporary, full-time job for probably the next six to 12 months. As I withdraw for now, I wanted to let you know your encouraging comments and feedback have been appreciated very much. And your articles have been thought-provoking, including the recent one about moving into cash; it synchs with my own interest in downside protection tactics, with everything from simple stops to option collars. Anyway, keep up the good work; I'll keep readin ...
  • Thomas Macpherson 2015-05-01 07:20
    No problem my friend! I just wanted to hear your feedback and make my writing better. Thanks for your very kind words. My best wishes. Tom
  • ramos285 2015-05-01 04:35
    HI Thomas there is a mixup. Your articles are extraordinary'm always waiting for new articles. I have learned a lot from them. Now after your email already know how to classify with 5 stars so far thought they could only by a star but already know how to put 5 stars. your articles are 5 star all of them.
  • mungerman 2015-04-01 14:37
    Hi Tom,

    I enjoy reading your investment insights and articles on Gurufocus.  In your 2/20/15 article, you offered to share your valuation summary spreadsheet with readers.  I would appreciate it if you would send a copy to me.

    [email protected]

    Thanks.

    John Archer

» More Messages

All Thomas Macpherson's Activities

  • Thomas Macpherson commented on Grahamites's article 07-03 06:00
    Profound Lessons From Ray Dalio
    Ray Dalio (Trades, Portfolio) is one of the most successful hedge fund managers in the world. While it may be safe to say that readers on this forum...
    View all 5 comments
    Thomas Macpherson 07-03 07:00
    • Grahamites. Thanks for sharing this. I've never really followed Ray so this was really interesting to read. The part about mistakes was particularly interesting. I've generally found that most people genuinely hate mistakes and find very little interesting in them (I fight this everyday myself). It's kind of like hearing a close friend congratulate another on their success when the reality it's more like Gore Vidal's "each time a friend succeeds a little part of my heart dies". So it was refreshing to hear Ray's outlook. Thanks again. - Tom

       
  • Thomas Macpherson commented on Thomas Macpherson's article 07-02 06:29
    Nintai Returns: Q2 2015
    Portfolio results The markets were relatively flat during the quarter. The S&P 500TR was down by (0.86)%, the Morningstar Total US Equity Index was...
    View all 2 comments
    Thomas Macpherson 07-02 07:29
    • Hi Science. Thanks. Right now I think our investment partners would say it was my overall ignorance, but I will try to expound on the business case (and not my overall stupidity) over the next month or so. Best. - Tom
  • Thomas Macpherson commented on Thomas Macpherson's article 07-01 13:31
    Excitement and Action: A Day In The Life
    Many people have asked us about our turnover rates, investment criteria and what we do during an average day at Nintai. These have all been...
    View all 6 comments
    Thomas Macpherson 07-01 14:31
    • Hi Quixote. We are in the midst of evaluating the proposed break up and valuation of the two parts of Baxter I and II. About the most I can say with any certainty is that I have no idea whether either part of the business will be worth owning. My apologies for not writing more (or being more specific) but I simply don't know enough right now to be very helpful. Best. - Tom

       
  • Thomas Macpherson posts: 07-01 10:11
    Nintai Returns: Q2 2015
    The markets were relatively flat during the quarter. The S&P 500TR was down by (0.86)%, the Morningstar Total US Equity Index was down (1.20)% and the Nintai Proxy (70% Vanguard...
    Comment
  • Thomas Macpherson commented on Thomas Macpherson's article 07-01 07:35
    Excitement and Action: A Day In The Life
    Many people have asked us about our turnover rates, investment criteria and what we do during an average day at Nintai. These have all been...
    View all 4 comments
    Thomas Macpherson 07-01 08:35
    • Hi Jerome. We put Coach and Kors under the same model - a pure value play. Neither company has a  significant moat in our eyes and we would purchase only if the valuation was cheap enough (meaning very, very cheap!). That said, our dabbling in Coach stock ended last month after about a 35% gain. We sold the position because it was a.) very small as a total and b.) I could no longer make a compelling case for ownership. It turns out my staff was right and I was wrong (a rather common occurrence!). Looking forward it is extremely unlikely we would invest in either again. Hope this helps. Best. - Tom
  • Thomas Macpherson commented on Holly LaFon's article 07-01 04:26
    Royce Funds Commentary – Royce Global Financial Services: A Sector Fund with a Difference
    Unique among our firm's product lineup, Royce Global Financial Services Fund (formerly Royce Financial Services Fund), as its name suggests, focuses...
    View all 1 comment
    Thomas Macpherson 07-01 05:26
    • In our private accounts we've owned Singapore Stock Exchange for years. Thanks for posting. A very interesting post. - Tom
  • Thomas Macpherson commented on GuruFocus's article 06-29 19:00
    Steven Romick's Speech to CFA Society of Chicago
    Los Angeles, CA-based value asset manager FPA has just issued FPA Crescent Fund manager Steve Romick's "Speech to CFA Society of Chicago." The...
    View all 2 comments
    Thomas Macpherson 06-29 20:00
    • Do we know if his returms listed on page 1 are inclusive of his 1.1% expense ratio?
  • Thomas Macpherson commented on The Science of Hitting's article 06-29 06:10
    Important Questions That Investment Professionals Rarely (Never) Hear
    Finding a trusted source for professional services can be difficult. I moved to a new city a few years ago, and realized something while searching...
    View all 6 comments
    Thomas Macpherson 06-29 07:10
    • Excellent article Science! 
  • Thomas Macpherson commented on Thomas Macpherson's article 06-28 01:24
    Excitement and Action: A Day In The Life
    Many people have asked us about our turnover rates, investment criteria and what we do during an average day at Nintai. These have all been...
    View all 2 comments
    Thomas Macpherson 06-28 02:24
    • Thanks Pravchaw: we like to point out we use one possible method of value investing. It's a pleasure to read about others and constantly learn from their styles. Thanks so much for your very kind note. Best. - Tom
  • Thomas Macpherson commented on GuruFocus's article 06-26 19:52
    You Can Now Download 20 Years of Financial Data from GuruFocus
    GuruFocus is very glad to announce that you can now download 20 years of financial data through the Excel download link. We are displaying 15 years...
    View all 1 comment
    Thomas Macpherson 06-26 20:52
    • Hi Charlie and the entire GF team. This is the type of evolving changes which make GF such a valuable tool to the value investment community. I hope you continue creating and offering these changes going forward. Great job and thanks again for the outstanding offering. Best. - Tom
  • Thomas Macpherson commented on Grahamites's article 06-22 10:49
    More Than Capacity to Suffer
    Renowned global value investor is famously known for the notion of “Capacity to Suffer.” When we think about Mr.Russo, “ Capacity to Suffer”...
    View all 1 comment
    Thomas Macpherson 06-22 11:49
    • Thanks Grahamites. We were just evaluating this ourselves. Since 1999 we've owned approximately 75 stocks. Of these 9 were losers and 66 winners (of quite varying degrees!). We generally purchase or sell 2-3 stocks per year but have had 11 years where we've done no transactions. Our average holdings is 18-20. We too focus on 3-5 industries. Using Morningstars 10 industry categories we generally invest in only 3-4. Mr. Russo has been a huge impact on our thinking and we are so glad to see this article. Thanks for pointing out what we consider vital strategies for long term success. Best - Tom
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