10 Years of Google and the Importance of Long Term Thinking

Posted on 16 CommentsPosted in Case Studies, Investment Ideas & Company Research, Investment Philosophy, Investment Quotes, Shareholder Letters & Reports, Think Differently

“Google has a huge new moat. In fact, I’ve probably never seen such a wide moat.” – Charlie Munger, 2009 Google celebrated the 10 year anniversary of its IPO last week. Google is a company that I’ve never owned (unfortunately), but really admire. There are a few businesses I almost root for, like a fan of a football team. Costco, Fastenal, and Walmart among others are on the list. These are really high quality businesses that have made their shareholders wealthy […]

The Stock Market: A Look at the Last 200 Years

Posted on 10 CommentsPosted in General Thoughts, Investment Quotes, Overall Stock Market

I spend virtually zero energy thinking about the overall stock market. I’m always aware of what the indices are doing, but I really don’t pay attention to where I think they are headed or where they’ve been recently. As Munger has said, sometimes the tide will be with us and sometimes it will be against us, but the best thing to do is to just continue to focus on swimming forward. I think this has been going on for well […]

Buffett’s PetroChina Investment: Finding Large Gaps Between Price & Value

Posted on 17 CommentsPosted in Case Studies, Investment Philosophy, Investment Quotes, Superinvestors, Warren Buffett

“You don’t have to know a man’s exact weight to know that he’s fat.” – Ben Graham I was reading through some notes from the 2008 Berkshire Hathaway Annual Meeting and one of the questions grabbed my attention. The question was pertaining to Warren Buffett’s decision to purchase stock in PetroChina back in 2002. Basically, the questioner was surprised that Buffett made such a sizable investment after a seemingly small amount of due diligence saying “all you did was read the annual report… […]