Just curious…are there any good/famous investors that you hate and would like to lay the smack down on and why?
Jim Chanos. I doubt he’s really as good as people think he is.
Ken Fisher, just living on dad’s fame.
I read Fisher’s book Only 3 Question a few months back, never finished it…but his three questions did help…thing is fisher isn’t so much a “value” investor…he outright says, “if the market goes up by 20% but you know its giong down eventually, are you not going to invest” or to that tune…
how are you dealing with the Lowes situation? I’m thinking of selling DO myself…and GD…they have been huge laggards in my portfolio and causing investor anxiety…
I think DO looks allright, I wouldn’t know enough to buy it individually, but seems like a decent business. With CNA, what’s your opinion of them? They seem to be a decent operation, and are consistently profitable, however, their investment returns are not so strong. I would think being run by value investors, we’d get a better asset allocation towards equities instead being so heavy on FI.
I’m thinking about selling as well, I’d like to see much more aggressive buybacks from the Loews HQ…or if not that, then more buybacks from CNA. I think Loews will do fine over the long run, but I’m ambivalent as to whether they’re better than WTM for example. That being said, insurance is really outside my circle of competence.
GD is undervalued too, I’ve looked at it, but I wonder if this is a value trap…it’s a good company with industrial headwinds, it’s probably not a bad investment, but there could be better ones out there…I think the key to looking at good firms in industries are stock buybacks…which they have been doing. Or you could short US defense and long GD…dunno how much risk you want to take.
I’m long Neustar (NSR), I’ll probably do a writeup over the next week or two on Corner of B&F.
Dennis Gartman
Dennis Gartman definitely gets the smackdown. I don’t understand how an investor without a reputable track record can get a reputation as a savvy investor. I have guys around me that think he is good and when i criticize they think I’m an arrogant prick (which I am).
i looked at CNA as the insurance operations itself is selling for pretty cheap. Just looking at highlights on the 10-k their operations are mediocre (very much so). I decided to go for AIG in the meantime.
I think i made a mistake buying DO as I’m not at all familiar with the offshore industry. I just liked the economics of offshore drilling (though not very much anymore) and thought cap rates would increase along with day rates and rig counts. Problem is, i can’t be certain so a mistake has been made (money made or not). guess i was just trying invest in my bullish oil thesis too strongly.
Neustar appears attractive, but right now, I’m in the midst of portfolio cleansing. investor not happy with my 15.9% y/y return in September.
15% is good…especially in an up market. But you’re right, you do need to cleanse from time to time.
I think your bullish oil thesis is sound, I believe Dalio says that Gold and Oil do very well in deleveraging environments.
Why do you feel CNA is mediocre…?
combined ratios are poor to weak coupled with average to subpar investment income ROE is below peers, reserving practices were weak as well…i don’t get the sense this company is particularly strong in any particular lines outside of specialty insurance either…thing with insurance is you have to look at competitors…ifyou see a decent ROE, that may be an industry trend from stronger pricing and lower than normal cat losses…so you have to see what everybody else is doing as their product is not 'transparent"…
idk about gold…thing is, I personally can’t “value” it as it does not provide a cash flow…also, i don’t like the fact 8/10 speculative investors I come across are extremely bullish on gold/silver and to add, aapl…
barrels of oil consumed worldwide I’m willing to wager will increase overtime…supply might meet demand so price might not increase…but if supply increases, someone gets paid (i.e. oil services, offshore) …
Several.
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Ken Griffen (A Hole)
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Dan Loeb (Bigger A Hole)
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Tim Sykes (would love to give him a beatdown)
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Frank Arbia (Nuff said)
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Fisher (Total chump riding daddys coattails!)
Tim Sykes is not even an investor anymore…and you can’t beat down Arabia you wannabe…
That’s a common theme among value investors. I don’t know any pure value guys that can bring themselves to invest in gold. I know some that buy it and bury it in their backyard but that’s different.
Gold gets brought up at nearly every client dinner/event I attend (surprisingly not by me), and whenever there are value PMs in the group they always get the same frustrated/confounded look on the face and shake their head. Same story every time - can’t value it. They know why to buy gold, and generally agree conditions (i.e. monetary debasement, negative real interest rates, etc) all point to gold being a good investment, but can’t value it so they don’t get involved.
How about Stevie Cohen? I think he deserves a bitchslap or two…
are there any famous investors that are known to be big douchebags (not perceived)? most seem to be upstanding individuals that you would want your daughter to marry
I plan on being one of those arrogant douchebag investors.
I’d like to bare knuckle box David Tepper. I like the guy actually. Just seems like he’d be fun to old-timey box.
I have a love/hate relationship with Kevin O’Leary. Love him on dragon’s den but hate his investment advice on capital markets. Has he made any coin as a securities investor?
Frank would you coattail Buffett into DVA?
I’m disappointed this thread has died.
anyone want to punch Jim Cramer?
I’d knock out Jim harder than I knocked out Dick Fuld!
Jim cramer should be put in jail for “crimes against retail investors”.