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stephenbaker

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  • stephenbaker commented on Holly LaFon's article 08-09 08:43
    Guess Which Stocks Warren Buffett Bought: 2nd Quarter Contest
    GuruFocus runs a contest every quarter wherein people guess the stocks they think Warren Buffett (Trades, Portfolio) bought. The second-quarter...
    View all 18 comments
    stephenbaker 08-09 09:43
    • AAPL, TEVA, GE, AMZN
  • stephenbaker commented on Rupert Hargreaves's article 08-07 12:43
    David Einhorn Down 18% Postmortem
    As I have stated before, David Einhorn (Trades, Portfolio) is one of my favorite value investors because of his record and approach to valuing...
    View all 9 comments
    stephenbaker 08-07 13:43
    • It is very cheap on a P/BV basis.  My issue with the company is its focus on annuities sales.  Though perflectly legal, they are marketed and sold in such a way as to be confusing, at best, and prey on the ignorance and vulnearabilities of potential customers.  In a way, I look at this company like a ciagarette manufacturer; perfectly legal and highly profitable as long as customers remain ignorant.  No so much an issue of social conscienceness but rather, a prevailing idea that with the passage of time we get more, not less intelligent.   I'd rather invest elsewhere. 
  • stephenbaker commented on Rupert Hargreaves's article 08-07 07:20
    David Einhorn Down 18% Postmortem
    As I have stated before, David Einhorn (Trades, Portfolio) is one of my favorite value investors because of his record and approach to valuing...
    View all 7 comments
    stephenbaker 08-07 08:20
    • Anyone still think Brighthouse trades at 5X earnings?
  • stephenbaker commented on The Science of Hitting's article 08-06 09:30
    Berkshire Hathaway: A Solid First Half of the Year
    Berkshire Hathaway (BRK.A)(BRK.B) reported third-quarter results on Saturday morning. Net earnings were $12 billion, up nearly three times from the...
    View all 2 comments
    stephenbaker 08-06 10:30
    • Science, my guess is Buffett will arrange private purchases from estates of recently deceased large shareholders, similar to the deal he made a few years back at 1.2 BV.  Unless the share price drops significantly, I would not imagine he will be doing a lot of open-market buying unless and until the pickings become a lot slimmer.
  • stephenbaker commented on Rupert Hargreaves's article 08-06 09:19
    David Einhorn Down 18% Postmortem
    As I have stated before, David Einhorn (Trades, Portfolio) is one of my favorite value investors because of his record and approach to valuing...
    View all 5 comments
    stephenbaker 08-06 10:19
    • I completely agree with Fung's comments on shorting stocks.  Why pay for the privilege of maxing your potential profit at 100%?  You have to question why he would hold a short position for 5 years and cover for a small gain.  The gain/loss is not the issue; when you hold a short position that long it continues to cost you and you give up the lost opportunity to deploy the proceeds elsewhere.  Shorting is very much more akin to gambling (you're paying the vig).  If I'm going to wait for a positive outcome, collecting dividends is a far more "value oriented" strategy than paying margin interest. 
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