Peter Bowers

The Stimulus Plan: Success or Failure?

I might have found some sympathy with your general thoughts. That is until you limited incompetent leaders to those of "financial COE's".
Your anger has no depth or reach. Just another whiner.


On Jul 14 08:22 PM User 447741 wrote:

> Wow! Based on these comments I would thing Republicans walk on water;
> however, I know that isn't true, and so does everyone else that lives
> in reality. Otherwise, the Republicans wouldn't have been voted out
> of power in the Executive and Legislative branches. Face it the Republicans
> lack leadership, and if the best that the Republicans can do is Sarah
> Palin, then God help them. The only thing going for Sarah Palin is
> she is an attractive woman in her forties.
>
> As far as what is going on with the economy there is enough blame
> to go around for politicians and businessmen and the American people.
> I can name quite a few reasons for the meltdown of the economy, and
> personally steps should be taken to identify the problems, and then
> resolve the problems by way of regulations and other means because
> I for one do not want to keep going through this crap over and over
> again. I am tired of making incompetant leaders (financial CEO's)
> rich.

Now Is a Better Time to Assess Earnings, Not Valuations

Amen! The idiots are part and parcel to the current mess. The so called graduates of higher education clubs should be ignored and replaced with others having a real world awareness.


On Nov 30 10:51 AM PrudentMan, CFA wrote:

> All investments are only worth what they earn, especially free cash
> flow. One of the most respected (of course unheralded because he
> wasn't and an "establishment&amp... guy, only cared about sales
> and free cash flow because to manipulate sales is fraud regardless
> of what the clueless nonsense espouse at the FASB.
>
> The NBER will probably say this recession started this year when
> it started in March, 2007 and that great discounting mechanism, the
> stock market, continued to hit new highs like they did in 2000 when
> the recession started in March and the NBER lists the start in 2001,
> when it actually ended. Idiots learning from other idiots and getting
> Phds for it. (See Nobel winners Krugman as well as Merton and Scholes
> of LTCM fame with their "fellow traveler" Arafat and Jimmy Carter.)

>
>
> My friend was so good the management had to replace him with and
> an Ivy Leaguer (son of a friend of Alan Greenspan) as he wasn't one
> of "them", even though he won a Lipper (the only one the firm ever
> earned) and the fund, under its new "prestigious&q... manager
> folded. My friend also stated the truism that a derivative is only
> as good as its underlying security but with more risk. That was
> in 1987.
>
> If you haven't learned in the last ten years, that the smartest guys
> in the room are not on Wall Street, Boston or Washington as their
> P.R. people try to sell you on, you are doomed to continue to rely
> on the same investment statists.
>
> I think the next Secretaries of Treasury and Commerce along with
> the Council of Economic Advisors should be staffed with successful
> farmers and small businessmen - the less "formal" education the better.
> They know the "real world" every day and not by Ivy League syncophants
> who got their positions through networking.
>

2008 Wesco Shareholder Meeting: Detailed Notes

Lest I forget, thanks for the publishing of the meeting transcript. It will become valuable material quoted in the future to unwilling victims.
Pete Bowers, President, Satellite Electric Co., Inc.

2008 Wesco Shareholder Meeting: Detailed Notes

I stumbled upon this transcript by accident. I read, mesmerized by the common sense commentary given to each question asked. I am a small business operator (an old small business man), who sits here thinking just what I could have accomplished better if I had brushed up against this level of thinking when I stated some 42 years ago. Maybe it's not too late to paraphrase Mungers thoughts in future motivational correspondence with my industry contemporaries.
Trivial as it sounds, amazing, just flat amazing! Makes my owning a paltry number of shares that much more valuable.

Form Factor Appears Deeply Discounted

Impressive study. Props up my cowardly inclination to sell and run. It isn't fun to be a newbie in a market like there is today but I'll pull my knickers higher and buy some more.

Berkshire's See's Candy: Magic Formula Stock from 1972?

At least User 63996 doesn't compare cost to degradation of the product. Strange how perspective can be distorted over time. The 1972 Mustang is not the Mustang of 2007, not in shape, size or simplicity, yet some still buy. The complexity is up, the weight is down and the price? Some where near exorbitant I think. Value is in perception and P. T. Barnum perfected the market for Buffett to follow.

American Axle Strike: Unions Continue to Kill U.S. Manufacturing

The most amazing realization that I get from reading the "added comments" is the lack of comprehension of just what constitutes a wage by the majority of those who took the time to vent over the article. What exactly do they think an "all in wage" constitutes? The in pocket portion only, with the fringes something that materializes from being at the work site? Fringes are wages, either offered by an employer or negotiated in the collective bargaining process by labor pressing management. The resultant labor wage aggregate is the cost to produce the widget and is paid on behalf of and directly to the employee. For those who would chose to challenge, I am an electrical contractor, having started my career as union apprentice, progressed to becoming a union employer and representative for my association these are familiar facts. Obviously, the bulk of the contributors are educated enough to wander thru the financial web seeking an escape from the deplorable situations they would hold up to justify the rabid philosophy the divides so much of this countries industrial capability. For AAM Striker to throw down the unspoken "Jewish writer" slur before going on a "rampage" is to paint himself as an Archie Bunker wannabe who's opinions are of no consequence. Canadian rocker would hold greed up as a particular American trait, responsible for what he/she perceives to be the cause of his non-union status. BKR opines about wishing for the US to become competitive again, perhaps with the Government "doing something" to make it happen. Then, just to make sure a reader gets his/her point, slams it 3 times in print. Ms. User 160131 would make an observation on the excess of executive pay. Its a good point but one that should be taken up with the stockholders and the idiots that far too frequently get appointed to compensation committees. I would offer up the question; why did she (or husband union member) not lobby for ownership reform by their union retirement investment representatives. Were their union leaders compromised in some way, like being in the pocket of management. The husband, for 20 years, was telling every body of the fate to come to this countries manufacturing. 20 years, huh! And nary an example of what real effort he might have taken to be proactive to save his lifes work. That thought by the way is the core of the writing by Mr. Horowitz.
Really, you who write to this editorial ought to reflect on what went wrong with your dream, goal, wants and how YOU are going to remedy the situation. Racial slurs against the messenger aren't the answer. Holding your hopes for Hillary is preordained to get you more of what you got already. Expecting your union gurus to lead you to the promised land is like Jim Jones exhortation to slurp the cool-aid to refresh yourself during negotiations. You have the responsibility for you families future, work for it or accept what is offered.

On Poker and Investing: Let Your Winners Run, Cut Your Losses Quickly

I would suggest you refine the analogy with poker (not winning big) to leaving the table, etc. and the correllation of owning a position in anything and what you do next. I think I get the idea but you are sketchy enough without the buffett chest pounding. I'll look back on your other prognostications later as you probably have good prespective,