Archive | February, 2012

Notes on the 2011 Berkshire Hathaway Annual Report, Part 1

Start with the basics, this is on the Annual Report, not just the shareholder letter.  I may have a second report out after the 10K is released. 1) One thing that was fascinating was the large number of low level acquisitions happening in the subsidiaries, and the desire for more of them.  There is interest […]

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Lighten-up, It’s The Weekend – Tube Plane

Yesterday I had one of those nightmare type flights because of the weather. Most flights were delayed and then cancelled. There was the usual VERY long line at the service counter to get rebooked, everyone was moaning and groaning but for the most part taking it in stride even though they would have to stay […]

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Fifty 2nd Graders, 10 Pies, and a Rock Star

To help more than 50 second graders learn basic economic and business principles, my daughter’s elementary school held a bazaar where each student sells goods and services to their classmates. They have $10 to spend on what they sell, and they exchange points earned from good behavior in class for fake money to shop in […]

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A Modest Proposal for Congress and the President

A Modest Proposal for Congress (and the President): Eat Your Own Cooking Leon C. LaBrecque, JD, CPA, CFP™, CFA We’re at a point in history where the relative popularity of our elected officials is at an all time low (I will reserve that comment to Washington). Most Americans (by some measures, over 90%) are dissatisfied […]

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Expensive High Yield

I’ve seen a number of articles recently arguing that high yield bonds are still cheap. Today I began an investigation to analyze this claim. Here’s my bias: at the first investment shop I worked in, the high yield manager told me that there is a nominal yield for high yield bonds which reflects the risk.  […]

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