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Big Moose

Big Moose
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  • Berkshire Bought Deere: Should You, Too? [View article]
    BluePack Partners, Excellent response! Very informative. Its this kind of stuff that helps us value investors get to the bottom of things..
    Oct 9, 2014. 01:11 AM | Likes Like |Link to Comment
  • Berkshire Bought Deere: Should You, Too? [View article]
    As he has stated many times (including this year's investor's conference), he does not oversee Todd and Ted's investments. They do not check with him. They get a certain amount to invest and their compensation is based on the performance of that amount. So, very likely Buffett did not say yes (or no) to DE purchase. In any event, the purchase of DE was not recent, in 2012.
    Sep 29, 2014. 03:16 PM | Likes Like |Link to Comment
  • Why Warren Buffett Doesn't Take A Bite Out Of Apple [View article]
    And, how well did that go? Almost closed the company down...Maybe he was not an "idiot" after all, maybe Apple needed a genius which he clearly was not. And, sometimes a genius in one company is an "idiot" in another. Remember Ron Johnson..

    Buffett not investing in Apple has nothing to do with the company, it has everything to do with the industry which is fundamentally disruptive making it hard to predict future earnings..
    Sep 14, 2014. 03:40 PM | Likes Like |Link to Comment
  • Why Warren Buffett Doesn't Take A Bite Out Of Apple [View article]
    Agree 100%. The #1 filter criterion he uses is his ability to see the future of THAT business 5-10 yrs out. That is why he is highly unlikely to ever invest in AAPL. Same does not apply for IBM
    Sep 9, 2014. 05:24 PM | 1 Like Like |Link to Comment
  • Why It Can Be Self-Destructive To Compare Yourself To The S&P 500 [View article]
    Tim, Great article and so well put. I am one of the avid readers of your 800 plus articles because to me you distill (and share) the essence of value investing almost better than anyone else. Thank you and keep up your wonderful work!
    Jul 30, 2014. 03:32 AM | 4 Likes Like |Link to Comment
  • Large-Cap, Dividend Growers' Portfolio That Can Outperform The Market: Deere [View article]
    Thanks Arie. Wonderful article.. I was in Omaha for the BRK conference and ran into some investors who specialize in farming.. I heard DE faces a lot of headwinds from smaller companies who produce very good farm equipment at a very reasonable price.. One person told me how they had to sell the farm because it was just not economical for them given the size of farm..

    Would love to hear comments on the competition DE is facing and if presents some serious challenges to its core business.
    Jul 6, 2014. 03:07 AM | Likes Like |Link to Comment
  • Why Gilead Is My Next Apple [View article]
    "What am I drinking?" The data from Gilead's Q1, 2014 Earnings presentation. Per that, total revenue for Q1 was ~ $5B of which Sovaldi accounted for ~ $2.28B. I don't know about you but i get worried when so much rides on one product. I am not questioning the product, just that too much depends on a blockbuster success of this product. Not my style of investing.
    Jul 1, 2014. 01:03 AM | Likes Like |Link to Comment
  • Why Gilead Is My Next Apple [View article]
    Bret, Great article as always! My only worry with GILD is whether its a one trick pony. Looks like there are a few dark clouds over Sovaldi, whether it be competitors (MRK, ABBV), pharmacies (Express Scripts) or Insurance companies. Not that they should deter us, but it would be good to hear what GILD has to offer in terms of diversity of revenue, just in case Sovaldi does not live up to expectations.
    Jun 30, 2014. 01:23 PM | 1 Like Like |Link to Comment
  • The Most Important Article I Could Ever Write On Dividend Growth [View article]
    From the Vanguard site: "Vanguard Dividend Appreciation ETF seeks to track the investment performance of the NASDAQ US Dividend Achievers Select Index.". And, as of May 31, 2014, it held 163 stocks. In comparison, Vanguard Dividend Growth Fund (VDIGX) has 50 stocks.

    I am not sure when the data in this article was effective but I am seeing some pretty big differences between the holdings in VIG and S&P Dividend Aristocrats..
    Jun 29, 2014. 10:27 PM | Likes Like |Link to Comment
  • The Most Important Article I Could Ever Write On Dividend Growth [View article]
    I just reviewed VIG fund details and it seems JNJ is the largest fund holding worth $1,005,653,054..
    Jun 29, 2014. 09:00 PM | Likes Like |Link to Comment
  • Why Lam Research Stock Is A Long-Term Investment Opportunity Right Now [View article]
    Great article! Prophetic - hedge funds are moving in.
    Jun 23, 2014. 12:08 PM | Likes Like |Link to Comment
  • Premier Companies, But Overpriced Stocks - Part 1 [View article]
    Ray, Great article as always! My goal has been (for a few yrs now) to accumulate great businesses (moat and brand) at a fair price. I love Rail for the moat it provides. UNP certainly fits the bill, but I caught on to this great business late.

    That said, I have struggled to pick between UNP and CNI. I know you have compared numbers but are there other competitive advantage one has over the other?
    At the BRK event this year, the question came up on routes to Mexico and supposedly UNP (and potentially Kansas City Southern) have an advantage over CNI. Thoughts?
    Jun 13, 2014. 03:53 PM | Likes Like |Link to Comment
  • The Highest-Paid CEOs Are Making Millions, But What's Happening With Their Companies' Stock? [View article]
    A good CEO is worth all the money he/she is paid. Unfortunately, too many CEO compensation plans are nothing but a gimmick. Buffett has written on executive compensation ( and how it needs to tied to retained earnings growth. Most CEOs try to fatten their wallet at the expense of shareholders by engaging in buyback (drive earnings) or mergers at the wrong time..
    Buffet does not take a low salary to save on taxes. In fact, if he had to save on taxes he could have gotten away by paying no taxes forever by putting his shares in a trust and borrowing against it. Buffett has a very simple plan for this portfolio managers - they get 10% of the amount by which their portfolios outperform the benchmark. He had something similar at Buffett Partnership as well.
    Jun 9, 2014. 12:00 AM | Likes Like |Link to Comment
  • Software-As-A-Service Stocks: Are We Stupid? [View article]
    As jpat points out, SPLK is not a SaaS company. A very small portion of their revenue comes from SaaS. They primarily sell software that is sold either as a perpetual or term licensing. I don't think comparing them to WDAY and CRM is fair.
    Jun 6, 2014. 01:17 AM | 1 Like Like |Link to Comment
  • Why Union Pacific Is Our Favorite Railroad Idea [View article]
    Excellent article - gives me a good framework to analyze rail stocks. I have been looking at UNP, CNI and KSU for some time now. The comment around intangibles came up at the BRK annual meeting and Buffett deferred to Matt Rose of BNSF.
    May 31, 2014. 01:48 AM | Likes Like |Link to Comment