Value Investing News - PKX - Comments

Buffett

bsdwork — Mon, 03 Dec 2007 14:07:29 -0500

Who is this Buffett guy ?:-? Well if he's so known, I've got a question for him: what does he think about unsecured loans?

Too much money!

JohannaBartley — Fri, 30 Nov 2007 12:00:43 -0500

Buffet is a smart man. A really smart man. I'm sure in the future his name will be in the same book with Nostradamus, Davinci, Napoleon...etc...I'm just curious if Warren owns some proprieties of the National Marine Engineers Beneficial Association. Oh well, we'll probably hear that he owns half of the moon or something.

Does Altucher now about Louis Simpson?

bingopitts — Mon, 02 Apr 2007 18:50:19 -0400

I don't think Altucher nows that Louis Simpson also works at brk. Many of Buffetts investments should be really credit or debited to Simpson. That is why I take alot of this talk of what is or isn't Buffett buying with a grain of salt.

Great commentary, as usual,

Jason — Thu, 29 Mar 2007 10:01:05 -0400

Great commentary, as usual, Geoff. Although, you are making some bold assumptions that we don't have the same quantity of capital as Mr. Buffett :)

Funny. As I was reading

Nick — Tue, 27 Mar 2007 10:08:51 -0400

Funny. As I was reading Altucher's article last night, I went back to your site to make sure that you hadn't already covered Altucher's points in your follow up. Very timely.

Altucher Beat Me To It!

Geoff — Tue, 27 Mar 2007 07:47:35 -0400

At the end of my last post " On Billionaires, Their Buys, and Buffett" I wrote "I will follow up with another post on this topic tomorrow. Hopefully, I can give you some idea of what you should and shouldn't do based on news of Berkshire's activities in specific stocks." Not much need to now.

Henderson Land

Geoff — Mon, 19 Mar 2007 02:43:56 -0400

From the letter to shareholders: "Henderson Land...developing land in the People's Republic of China...control a substantial amount of earning assets - both real estate and non real estate - in Hong Kong and (China)."

Whitman is looking for Henderson Land to privatize. It has attempted this twice since 2002. To complete a takeover (which this would be - he explains the structure in the letter) it must get fewer than 10% "no" votes. Whitman explains that at present the Hong Kong stock exchange allows shorts to vote not just beneficial owners. People borrowed shares and then voted against the deal; that's apparently why it failed.

This looks typical of Whitman. He's been finding more overseas - especially Hong Kong. He illustrates some of the discounts there. He attributes it to more inefficient markets. He likes to find bargains relative to what a private buyer would pay in a control purchase. So, these kind of discounts to asset values are what he looks for.

I'm not sure if the ticker symbol given at GuruFocus is necessarily the security actually owned. The only one I know for sure is that Third Avenue owns the Posco (PKX) ADRs - not the shares you can buy in Korea. Otherwise, I imagine the fund normally buys its shares abroad - e.g., in Hong Kong.

Suprised to see the pink

Nick — Mon, 19 Mar 2007 02:10:09 -0400

Suprised to see the pink sheet in there. Anyone know much about Henderson Land Development?

I like the model you use for your suggestions.

Nick — Fri, 02 Mar 2007 10:36:23 -0500

More specifically I think your model of suggestions: Suggest Buying, Consider Selling, Best Guess, and Suggest Selling,is actually actionable for the average investor. Of course the reader would have to agree with or have absolute faith in your assessment of the company in order to deploy capital, but that is true of any recommendation. Thumbs-up.