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Thomas Macpherson  Thomas Macpherson

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  • Grahamites 2016-10-07 15:01
    Tom, thanks for checking in. All is good. I'm in the process of discussing with my employer what's the best way for me to continue to write on gurufocus, the content of my articles and how much I can write without creating a conflict of interest etc. Once that's resolved I should be able to write.
  • PatientValueInvestor 2016-02-17 23:00
    Hi Tom-Just a note to tell you how much I enjoy and learn from your articles. My recent article (about Eaton Vance) was my first-ever article written and published on Gurufocus.com.  I hope to offer many more in the future to add to the community conversation. Anyway, if I ever publish an article and you have an extra moment, I would always appreciate any comment/insight you may have.  As an amateur just trying to do the best I can with investing, I have much to learn--so you ...
  • Grahamites 2015-08-10 21:46
    Tom I still need to figure out how to use gurufocus's personal space better. I noted your message and thanks for the nice words. I've only had 4 years experiences in value investing so I can guarantee you that you are much more experienced than I am. Maybe we can agree that learning is mutual. Best of wishes at Dorfman!Looking forward to more of your articles.
  • 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 ...

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All Thomas Macpherson's Activities

  • Thomas Macpherson commented on Grahamites's article 11-16 20:41
    Why It's Almost Always a Mistake to Sell Compounding Machines
    Chuck Akre (Trades, Portfolio) was the keynote speaker of this year’s GuruFocus Value Conference. During the Q&A session, somebody asked Akre what...
    View all 4 comments
    Thomas Macpherson 11-16 20:41
    • Anchoring and confirmation bias can make it very difficult to admit that a long term and successful investment is no longer the compounding machine you thought it once was. It took me losing 25% of my profits and three go arounds with my DCF models, risk assessments, etc. before I could admit Ansys (ANSS) wasn’t the juggernaut I had invested in 13 years earlier. Just my $.02 worth. Thanks for a great article. Best - Tom
  • Thomas Macpherson commented on Rupert Hargreaves's article 11-12 21:34
    Some Tips on Avoiding Value Traps
    Value investing can be a lucrative style of investing, but it is a research-intensive process. If you are not willing to do the amount of research...
    View all 2 comments
    Thomas Macpherson 11-12 21:34
    • Hi Stephen. I agree with your assessment. Over 80% of the holdings in my portfolios have no debt and free cash flow that exceeds 25% of total revenue. (Readers are probably tired of hearing me harp about this!) I believe this assists me in avoiding value traps that find themselves boxed in by debt covenants, interest payments, or inability to service debt reducing R&D, growth strategies, or simply making wise strategic decisions. That’s a great point and thought it was a very astute comment. Best - Tom
  • Thomas Macpherson commented on Robert Abbott's article 11-12 16:20
    Small Caps: The Why and How of Portfolio Diversification
    Although Ian Wyatt called himself a devoted small-cap investor, his portfolio contains more than simply small caps. “Small caps are my...
    View all 3 comments
    Thomas Macpherson 11-12 16:20
    • Great stuff Bob. I must say my approach to small caps differes significantly from Wyatts's themes. Roughly my 80% ofy holdings in the Hayashi Trust and in individual accounts are intensly focused with little diversification. In the Trust I only have equities in 3 of the 11 S&P categories. It's been pretty much that way for the 20 years of my investment carrer. I focus (much like Batbeer) on quality first, diversification second. Just my $.02 worth. Best - Tom 
  • Thomas Macpherson commented on John Huber's article 11-10 13:22
    Buffett’s Underrated Investment Attribute
    A few weeks ago, Sears (SHLD) finally filed for bankruptcy, and I decided to read through some of my notes I’ve compiled over the years on that...
    View all 1 comment
    Thomas Macpherson 11-10 13:22
    • Great stuff John. I think when one truly recognizes a.) their intellectual limitations and b.) prediliction for sloth and indolence then they've taken a huge step in being a better investor. Best - Tom
  • Thomas Macpherson commented on Rupert Hargreaves's article 11-08 17:29
    What Went Wrong for This Fund Manager?
    I have been tracking the investment performance this year of David Einhorn (Trades, Portfolio), who, until recently, had one of the best records of...
    View all 2 comments
    Thomas Macpherson 11-08 17:29
    • Great article Rupert. I won't short for two reasons. First, it's against my nature. I am comfortable rooting for growth rather than collapse. This isn't a moral judgement against those who short, it just isn't something that gets my juices flowing. Rather, it would  keep me up all night. Second (as you mention), the risk/reward proposition simply is unacceptable to me. Having the potential for unlimited losses and capped gains is a game I'm simply unwilling to play. Thanks again for a great article. Best - Tom
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