Best investment adviser Richard Losch's blog

2nd Quarter Letter - St. Joe Company

At the 2015 Annual Meeting on June 30, the St. Joe Company management announced that its long term master plan for Bay and Walton Counties was approved recently by Bay and Walton Counties and the State of Florida. The plan provides for up to 170,000 homes on 110,000 acres of St. Joe Company’s property in those counties.

What’s in a Word?

The fracking revolution has brought America a windfall of cheap and abundant natural gas. While plastics can be made in other countries where crude oil is available, the production cost when using oil (naphtha) is significantly higher than when starting with natural gas (ethane), even with the decline in oil prices.

Are Bonds Safer Than Stocks?

"Many people some years back thought they were behaving in the most conservative manner by purchasing medium or long-term municipal or government bonds. This policy has produced substantial market depreciation in many cases, and has most certainly failed to maintain or increase real buying power." Imagine that we can travel into the future, ten or more years from now. With the benefit of hindsight, will we then look back and say that the above quote was appropriate for June, 2015?

Successful Investing

Successful investing is a complicated process. From an intellectual standpoint it does require some study of company’s history and financial statements but it is not rocket science, nor does it require a master’s degree from a big name business school.

Chicago Bridge and Iron

Berkshire Hathaway is the largest shareholder of Chicago Bridge and Iron, currently holding 9.8% of the company’s outstanding stock. Chicago Bridge and Iron has affirmed their earnings estimate of $5+ for the year ending December 2014.

CAMEX 2014

Walking the floor of the 2014 CAMEX at the Orlando convention center, a new trade show put on by the Composite Industry, the visitor gets the impression that sometime before the end of this century everything will be made out of plastics. There were planes, automobiles, light weigh propane tanks, and cowboy hats. In most of these cases the composites in the exhibits are lighter, stronger and prettier than the traditional materials.

Global Economy October 27, 2014

Oil prices are going down because;
1. World-wide Demand for oil is below a year ago. China is using less oil. For the first time in ten years China has imported less oil this year than they did last year. Europe is using less oil because weak economy and heavy regulation. US is using less oil because more efficient vehicles and alternative energy sources.
2. Supply is up. The US, Saudi Arabia, Iraq, and Libya are producing more oil this year that did last year. Saudi Arabia may intentionally increasing production in the face of declining oil prices to force marginal producers to stop expanding production.

Fluor Corporation

Fluor is the largest construction and engineering company in the United States. It has offices in 25 countries with major operations in Canada, Middle East and Australia. Many people believe that the shale oil revolution will be the engine for the revival of manufacturing in the United States.

Interesting Quotes from Daily Journal Annual Meeting

Some Interesting Quotes from Daily Journal Annual Meeting 2014.

The Daily Journal Annual Meeting

On September 10th I, investment manager, was in Los Angles, along with 250 other groupies who came from all over the country to listen for two hours to a 90 year old answer questions from the audience and expound on his philosophy of the stock market and just about everything else. The 90 year old was, of course, Charlie Munger and the occasion was the 2014 annual meeting of the Daily Journal Corporation a small legal publisher and Software Company where Charlie is part owner and Chairman of the Board.

Pages

Zircon - This is a contributing Drupal Theme
Design by
WeebPal.