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batbeer2  Batbeer

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  • batbeer2 2016-06-23 10:24
    Hi brinsley, thanks for the heads-up on Kone. Hadn't really looked at that one for a while and the P/E is not as high as it used to be last time I checked. I don't mnd the currency they report in. If Schindler moves its head office to Luxemburg then they start reporting in euros but the company remains otherwise unchanged. What matters is their costs. I would have to check out the Swiss headcount as compared to the total to determine if I'm worried about currency fluctuations. best, ...
  • brinsley 2016-06-23 06:01
    Following on from Schindler/Kone is that as you mention the earnings of Schindler are hurt by the strength of the Swiss Frank due to its haven status, which is not likely to go away, so Kone may be a better bet as they report in EUR and this currency has come down in the last couple of years. Despite this, the market still gives Schindler a higher multiple.
  • Arjun Chan 2016-04-08 08:33
    Batbeer2, Did you forgot to leave a comment on my article :-)
  • batbeer2 2015-12-29 11:36
    Hi Peter, Alas, I think Aggreko's future will be less impressive than its past. Nowadays a larger part of their business comes from constructing more or less permanent electricity plants and "renting" that out. One could say they have become a financing company for third-world countries who need electricity generation capacity but have no cash. I like the short-term rental business of the portable generators much much better.  That IMHO is still a fantatstic ...
  • peterkooi 2015-12-29 06:13
    Hi Batbeer 2,

    You said one year ago:  If there are questions about Aggreko, I would be happy to share what I know about this great company.

    You still believe that?

    Bets.

    peter

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All batbeer2's Activities

  • batbeer2 commented on Rupert Hargreaves's article 21 hr ago
    Charlie Munger Is Worried About American Express; Should You Be?
    One of Warren Buffett (Trades, Portfolio)’s largest legacy positions is American Express (AXP). He has stated his commitment to the business many...
    View all 3 comments
    batbeer2 02-23 07:23
    •  Thanks.

      Yes, the number of cards in force declined in 2016. Mainly in the US. Elsewhere, the number is growing. Also, prior to 2016 the number was growing in teh US.

      We shall see if 2016 was a bump or the start of a trend.

      In this regard p41 of the most recent 10k is worth reading.

       
  • batbeer2 commented on Rupert Hargreaves's article 02-22 11:55
    Charlie Munger Is Worried About American Express; Should You Be?
    One of Warren Buffett (Trades, Portfolio)’s largest legacy positions is American Express (AXP). He has stated his commitment to the business many...
    View all 1 comment
    batbeer2 02-22 11:55
    • Thanks for sharing your thoughts.

      >> fewer and fewer merchants are willing to pay American Express’ hefty charges to be part of the network.

      Two thoughts:

      1) How do you know this? American Express has by far the largest merchant network of any card issuer. What's more, I believe the number is growing, not shrinking. 

      2) Perhaps it is worth mentioning that Munger (through DJCO) is long American Express.
  • batbeer2 commented on GuruFocus's article 02-15 14:40
    Portfolio Contest Winner Announcement; 24 Hours Left for 2017 Contest
    As we previously announced, it is now time for us to announce the winners for GuruFocus 2016 Portfolio Contest. The winner is based on the...
    View all 1 comment
    batbeer2 02-15 14:40
    • Hi Gurufocus.

      Good idea, thanks.

      I created a portfolio for the 2017 contest here.

      The portfolio had three stocks and up until friday the portfolio was fine. Just checked on it today and now there is just one stock!? Fannie and Freddie are gone.

      What's worse, the portfolio is no longer within the competition guidelines.

      Of course the portfolio was locked; it certainly wasn't me that removed the two stocks.

      What gives?

       
  • batbeer2 commented on Rupert Hargreaves's article 02-13 11:39
    Is Value Investing Dead?
    Value investing has changed significantly since the concept was conceived by Benjamin Graham more than 80 years ago. Today it’s tough to adopt the...
    View all 8 comments
    batbeer2 02-13 11:39
    • >> It could be that value investing only seems dead because value is so sparse in this market.

      Hmmm... good point but I think you are understaing something.

      An investor who switches strategies just because a particular strategy they used to like is not yielding any ideas at this point in time can save themselves a lot of time thinking about strategies. There are other (simpler) ways to describe their approach.

      Conversely I would say value investing is most alive now because the strategy tells you to go fishing. Of course most investors can't do that. By definition!

      Perhaps it is investor discipline and dedication that's failing and not the strategy.
  • batbeer2 commented on Rupert Hargreaves's article 02-12 16:04
    Is Value Investing Dead?
    Value investing has changed significantly since the concept was conceived by Benjamin Graham more than 80 years ago. Today it’s tough to adopt the...
    View all 6 comments
    batbeer2 02-12 16:04
    • >> The very fact it's so easy to find cheap stocks today makes it less likely stocks will ever fall to such discounted levels that they would be considered deep value by Graham's standards.

      I see. So the fact that I can find half a dozen stocks that meet Graham's criteria without getting up from my armchair proves that it is unlikely that such stocks can exist. 

      For what it's worth, I wouldn't want to trade places with Graham.

       
  • batbeer2 uploaded a new picture 04-22 11:42
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