Best investment adviser Richard Losch's blog

Albemarle Corporation

Albemarle is a developer, manufacturer and marketer of specialty chemicals. The company serves customer needs across a range of end markets, including the petroleum refining, consumer electronics, plastics packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food-safety and custom chemistry services markets. At the Company’s Investor day on April 15 in Houston, the CEO gave some background on the company’s ten year record of investor returns, an outline of the company’s current structure, and some projections on what to expect in 2014.

Triumph Group

Triumph started out as an MRO company in 1994, but since then has expanded to a much broader footprint in Aerospace through acquisitions, the biggest of which was the 2010 purchase Vought Aircraft for $1.1 billion which more than doubled the company’s revenues. This purchase brought Triumph into the manufacture of large aero structures for commercial, military and business jet aircraft, a business that includes fuselage sections, wings, empennages, nacelles and helicopter cabins.

The American Energy Revolution

The rapid conversion of electrical generating capacity to cheap gas means that electrical rates in in the United States are now among the cheapest in the world.

Singapore

As I am wandering the aisles of the enormous trade show at the Singapore Airshow, I, investment manager, stop by the Florida Pavilion, just for a touch of something familiar. I, investment manager, start a conversation with a man in the booth of Future Metals, a company with headquarters in Tamarac, Florida.

St. Joe Company Update

St. Joe Company has announced the sale of about two thirds of its land holdings in the Florida Panhandle. The sale is for 387,000 acres for $565 million which works out to about $1500 per acre.

Wizards

Jack D. Schwager’s new book "Hedge Fund Market Wizards" is series of interviews with twelve hedge fund managers. What these managers all have in common is a great record, and that they run huge sums under hedge fund rules.

Triumph Group Inc.

Triumph Group is a broad based federation of highly specialized suppliers to the aerospace industry. In the last 15 years the company has increased its annual revenue from $250 million to $3.7 billion.

Bitter Brew

I, as investment manager, recommend both books "Bitter Brew" by William Knoedelseder, and "Dethroning the King" by Julie MacIntosh to anyone with an interest in investment business studies.

An Antifragile Portfolio

Nassim Nicholas Taleb’s "Antifragile" is an important work. It is a must read for anyone with skin in this game of investing.

Leucadia National Corporation

Leucadia National Corporation and Jefferies Group, Inc. announced last month that the companies have approved an all stock merger agreement under which Jefferies’ shareholders will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they hold. The merger is expected to close during the first quarter of 2013.

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