frcf's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/137961/comments http://seekingalpha.com/article/122736-the-37b-roubini-forgot-at-wells-fargo?source=feed#comment-403971 403971 Thu, 26 Feb 2009 01:17:17 -0500 http://seekingalpha.com/article/97712-wells-fargo-a-growth-stock-during-the-great-depression?source=feed#comment-267832 267832
www.dataroma.com/m/hol...

The chances are that with more additions and rising stock price, wfc may in fact surpass KO and become his largest holding. He actually spent more money buying WFC shares in 2007 than JNJ, and that's inspite of the fact that he already held a large chunk of wfc. This is buffetts proverbial fat-pitch, and of course other investors are completely oblivious to it. But that is what makes him great. He sees things before everyone else does. He saw the credit crunch comming, he saw the disaster waiting to happen with derivatives and the very likely real estate bust. And yet, he kept adding to his wfc position. He knew that wfc's earnings were not peak earnings - that if anything, the credit boom had intensified competition, thereby making life harder for conservative and well managed banks like wfc. Ironically, the credit crunch has now given wfc an opportunity to increase market share and benefit from rising margins while other banks are selling assets to shore up capital.

Buffett is a genius.]]> Sun, 28 Sep 2008 17:56:16 -0400
www.dataroma.com/m/hol...

The chances are that with more additions and rising stock price, wfc may in fact surpass KO and become his largest holding. He actually spent more money buying WFC shares in 2007 than JNJ, and that's inspite of the fact that he already held a large chunk of wfc. This is buffetts proverbial fat-pitch, and of course other investors are completely oblivious to it. But that is what makes him great. He sees things before everyone else does. He saw the credit crunch comming, he saw the disaster waiting to happen with derivatives and the very likely real estate bust. And yet, he kept adding to his wfc position. He knew that wfc's earnings were not peak earnings - that if anything, the credit boom had intensified competition, thereby making life harder for conservative and well managed banks like wfc. Ironically, the credit crunch has now given wfc an opportunity to increase market share and benefit from rising margins while other banks are selling assets to shore up capital.

Buffett is a genius.]]> http://seekingalpha.com/article/97712-wells-fargo-a-growth-stock-during-the-great-depression?source=feed#comment-267798 267798
Remember, Buffett is never wrong on his big bets.]]> Sun, 28 Sep 2008 17:04:11 -0400
Remember, Buffett is never wrong on his big bets.]]> http://seekingalpha.com/article/74188-american-express-false-sense-of-security?source=feed#comment-156926 156926 LOL)

Obviously the author is able to (or expects to be able to) catch the bottom, or time the market. Has it ever occurred to him that when it becomes obvious to the street that the financial crisis and the economic downturn are behind us, AXP’s stock would have already shot up 50%. If the economy was firing on all cylinders, you would very likely have to pay at least 25 times earnings for AXP. The only time you can pick up one of the highest quality businesses in the world at 13 times depressed earnings, IS during a severe downturn.

What determines the true value of a business is the stream of its future earnings discounted at an appropriate rate of return, not the day to day or month to month stock price action. And if you can take advantage of a downturn to purchase a quality business at a huge discount to its intrinsic value then you’ll be handsomely rewarded, regardless of whether ‘the worst is priced in’ or not.

I can’t believe this guy has written a book on investing!!!

By the way, the famous value investors at Tweedy Browne, used the recent downturn to add to their AXP holding: www.dataroma.com/m/hol...

]]> Fri, 25 Apr 2008 21:18:04 -0400 LOL)

Obviously the author is able to (or expects to be able to) catch the bottom, or time the market. Has it ever occurred to him that when it becomes obvious to the street that the financial crisis and the economic downturn are behind us, AXP’s stock would have already shot up 50%. If the economy was firing on all cylinders, you would very likely have to pay at least 25 times earnings for AXP. The only time you can pick up one of the highest quality businesses in the world at 13 times depressed earnings, IS during a severe downturn.

What determines the true value of a business is the stream of its future earnings discounted at an appropriate rate of return, not the day to day or month to month stock price action. And if you can take advantage of a downturn to purchase a quality business at a huge discount to its intrinsic value then you’ll be handsomely rewarded, regardless of whether ‘the worst is priced in’ or not.

I can’t believe this guy has written a book on investing!!!

By the way, the famous value investors at Tweedy Browne, used the recent downturn to add to their AXP holding: www.dataroma.com/m/hol...

]]> http://seekingalpha.com/article/72062-is-ge-a-buy?source=feed#comment-150676 150676
When GE had a p/e of 30 everyone wanted to own it. Now at p/e 14, no one wants to know. I call that opportunity. What is amazing is that, GE's earnings yield is actually much higher than what their AAA rated debt will cost them after tax. So, as Immelt mentioned in the CC, they will keep buying back stock.

It's the most widely owned stock among value managers:
www.dataroma.com/m/hom...

As a side note Immelt is a personal friend of Buffett.]]> Mon, 14 Apr 2008 18:28:26 -0400
When GE had a p/e of 30 everyone wanted to own it. Now at p/e 14, no one wants to know. I call that opportunity. What is amazing is that, GE's earnings yield is actually much higher than what their AAA rated debt will cost them after tax. So, as Immelt mentioned in the CC, they will keep buying back stock.

It's the most widely owned stock among value managers:
www.dataroma.com/m/hom...

As a side note Immelt is a personal friend of Buffett.]]> http://seekingalpha.com/article/71501-is-general-electric-overvalued?source=feed#comment-146812 146812 Tue, 08 Apr 2008 04:14:47 -0400 http://seekingalpha.com/article/68780-general-electric-it-s-all-about-the-numbers?source=feed#comment-127851 127851
GE's guru ownership for anyone interested: www.dataroma.com/m/sto...]]> Mon, 17 Mar 2008 17:11:26 -0400
GE's guru ownership for anyone interested: www.dataroma.com/m/sto...]]> http://seekingalpha.com/article/66283-four-reasons-wal-mart-is-at-a-2-year-high?source=feed#comment-119774 119774
Many guru investors like it too: www.dataroma.com/m/sto...
]]> Wed, 27 Feb 2008 12:36:01 -0500
Many guru investors like it too: www.dataroma.com/m/sto...
]]> http://seekingalpha.com/article/61186-three-financials-worth-buying-us-bancorp-part-i?source=feed#comment-114751 114751 Tue, 05 Feb 2008 17:31:28 -0500 http://seekingalpha.com/article/61186-three-financials-worth-buying-us-bancorp-part-i?source=feed#comment-113006 113006
www.dataroma.com/m/his...

]]> Sat, 26 Jan 2008 22:09:51 -0500
www.dataroma.com/m/his...

]]> http://seekingalpha.com/article/61186-three-financials-worth-buying-us-bancorp-part-i?source=feed#comment-113005 113005
He's been gradually building a position in USB:

www.dataroma.com/m/his...

]]> Sat, 26 Jan 2008 22:07:09 -0500
He's been gradually building a position in USB:

www.dataroma.com/m/his...

]]> http://seekingalpha.com/article/61186-three-financials-worth-buying-us-bancorp-part-i?source=feed#comment-113004 113004
He's been gradually building a position in USB:

www.dataroma.com/m/his...

]]> Sat, 26 Jan 2008 22:06:00 -0500
He's been gradually building a position in USB:

www.dataroma.com/m/his...

]]> http://seekingalpha.com/article/59989-a-rare-opportunity-to-buy-amex-on-the-cheap?source=feed#comment-110126 110126
www.dataroma.com/m/sto...

No doubt they will use this opportunity to add to their positions.]]> Mon, 14 Jan 2008 02:43:08 -0500
www.dataroma.com/m/sto...

No doubt they will use this opportunity to add to their positions.]]> http://seekingalpha.com/article/59606-seeking-stocks-with-cheap-safe-dividend-streams?source=feed#comment-109273 109273 www.dataroma.com/m/sto...
]]> Wed, 09 Jan 2008 17:49:18 -0500 www.dataroma.com/m/sto...
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