Passerby37

Enlightened-American Portfolio: Up 33.5% YTD with Cash Hoard Growing

Disclosure: I am an E-A member, and am adding my $0.02 to this somewhat obvious attempt at attracting additional subscribers for 2 reasons:

First, I have followed Davy's work here at SeekingAlpha for a time, then at the CGI Investing website, and now at E-A. He is a very sharp, thoughtful, insightful, and capable advisor who is going to make a lot of money. (if he hasn't already) Hopefully, I am still on that train when it leaves the station. That said, I would encourage a trial subscription to his website and the investment philosophies therein.

Second, Davy... Lose the shades... seriously. You've heard the expression "the eyes are the window to the soul". Well, your pic just doesn't inspire... and it really, really should.

What Mohnish Pabrai Didn't Know Hurt Him Badly

Patience...
What has Pinnacle got that the others do not?

Invert, always Invert.

Moody's Skeptical of Airline Merger Synergies

Oh, now... Moody's is skeptical.

If only they had been - just a LITTLE - critical of subprime CDO/SIV originations.

What if?...

First Marblehead: Hostage to the Credit Market

Thanks Jason,

Great Commentary. The line about having "Goldman on your side" made me pause however.

Goldman is on Goldman's side. No one else's. If sufficent returns cannot be generated from purchases at $11.24 - $15.00, a grab at the whole pie at under $5 would be the next logical move.

It all depends... will the financial markets remain locked long enough to force management's hand? This TERI issue suddenly has taken on a whole new meaning for me.

Sears Holdings' True Value

Geez -

The gallery sure hates this one.

Buffett bought Berkshire, not because it was a great business - it was lousy - but for the cash flows. He then took the returns from the textile mill and reinvested them in growing enterprises with high Returns on Capital which eventually created the mountain of money that is Berkshire is today. Note: the original mill did eventually go under in the early '80s.

I'm impressed with Lambert because he has managed to gain control of not one but two large cash generators(Sears and Kmart) and... their undervalued land holdings to boot. Sweet move. Now, these two entities will probably never develop the 'moats' that their competition have and grow effectively, but they don't need to. They are already providing, IMHO, what Lambert intends: Cash Flows. He runs tight operations not with the intention reinvesting profits for growth, but to maintain position.

His challenge, as I see it: Can he find places to put this loot to work in new places for a better return - a la Buffett?

Nice work Rich.