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batbeer2  Batbeer

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  • rgarga 2015-02-15 08:54
    Would like to have a conversation re posco if can? Maybe we can learn something from each other. 7066760284 or if yiu guve me your number, I can call you. Thank you.
  • batbeer2 2015-01-28 13:37
    Hi Tim, I believe it is possible to generate excess returns with technical analysis. It's just that anyone claiming it is easy is either lying or doesn't understand what it is really about. A friend of mine is a good (options) trader. If I had to hazard a guess he has an IQ well in excess of 155. The guy literally solves a 7 x 7 rubics cube blindfolded. He will gaze at it for 20 seconds and them proceed to solve it without looking at it again. That scares me. He is a very nice gu ...
  • trdoyle 2015-01-28 11:54
    Nice exchange with Dr. Price.  I fail to see how his data mining tactics can be applied with any reasonable amount of success going forward.

    Tim
  • coryashpt 2015-01-22 13:23
    Hi Batbeer2,
    I was disappointed in IBM's inability to right the ship and grow revenue.  I am encouraged by the growing margins and growth in strategic areas, although still a small part of the company.  I was also disappointed they didn't buy back more shares at such a low level.  Any thoughts?

    Best,

    Cory
  • coryashpt 2015-01-12 22:36
    batbeer2 : Hi Cory, Never heard of the company until now. I see that they have an office in Rotterdam which is my city. Shame on me. Often you'll see a company I think you will be pleasantly delighted by reading their shareholder reports and 10-ks.  They just increased the dividend today.  A very shareholder friendly company.  Now on sale of course but I am still trying to understand the moat they have enjoyed over the past 22 years or so.  Let's ke ...

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All batbeer2's Activities

  • batbeer2 commented on batbeer2's article 4 hr ago
    Nam Tai - Value Idea Contest Submission
    The case for Nam Tai is simple. The company trades at a meaningful discount to book. This is remarkable in light of the fact that the book value of...
    View all 108 comments
    batbeer2 07-29 14:37
    • Just in case somebody out there still cares....

      Nam Tai just released some appraisals of the land:

      http://www.namtai.com/investors#investors/real_estates

      That's for the current market value of the land in Bao'an alone. While Nam Tai does own some more land elsewhere in Shenzhen, the site in Bao'an is probably the most valuable.

      On average it works out to $200m; that's a fair market value of USD 200 million for the land in Bao'an as it is today. In the words of DTZ (one of the appraisers):

      "The estimated amount for which an asset or liability should exchange on the date of valuation between a willing buyer and a willing seller in an arm's-length transaction..." 

      That's about $5 per share of land plus $5 per share of net cash for a stock trading at $4.75.
  • batbeer2 commented on Grahamites's article 16 hr ago
    Spotting Creation of Value - Additions to The List
    In my previous article on Spotting Creation of Value, I listed the number of ways I have personally observed that a company can create value for...
    View all 2 comments
    batbeer2 07-29 02:45
    • In my view, #3 does not truly add value. 

      When a company acquires cheaper peers and pays for that with its own high-priced stock, it is not the company that is adding value. It is the shareholders bidding up the stock who are subsidizing the ambitions of the CEO. While this does raise per-share earnings, it should not be confused with the company building wealth for shareholders. 

      Is it not better for a company to be building wealth for its shareholders as opposed to shareholders bidding up a stock so the CEO can grow his empire?
  • batbeer2 commented on The Science of Hitting's article 07-27 06:23
    Berkshire's GEICO Investment in 1976 and 1980: Lessons in Business and Investing
    I wrote an article about GEICO last November (here), but I haven’t talked too much about the company since then. In that article, I discussed some...
    View all 5 comments
    batbeer2 07-27 07:23
    • Hi SoH,

      Thanks for the series on Geico, looking forward to your next piece.

      I wonder...

      - When did Buffett first understand just how great that buisness is/was and how long did he wait before investing. 

      - Off the top of my head, Geico has a very high market share in some states but almost no market share in others. Why?

      Perhaps you can share your thoughts about this.
  • batbeer2 uploaded a new picture 04-22 11:42
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