Qualcomm's management has stated that they intend to grow their dividend faster than earnings for the next year or so. Keeping to that promise, Qualcomm raised its dividend by 14% on Monday and announced a new $10 billion stock buyback. $10 billion is 8.6% of Qualcomm's current market cap. From American Money Management's own Mike [...]

Looks like someone has been reading the AMM Dividend Letter. From Barrons. Q: What is your best stock pick? A: After not holding General Electric for many years, we’ve come back to the stock in the past six months. It makes sense right now to own some large-cap, high-yielding names with durable businesses. Though Wall [...]

Gaming and Leisure Properties (GLPI) was the subject of our 10th Dividend Letter. One of the catalysts we highlighted was the further purchasing of other casino real estate at value creating prices. One of the items we discussed in the "Pre-Mortem" was Pinnacle Entertainment (PNK) spinning off their casino real estate as a REIT which [...]

AbbVie Buys Half a Drug for Big Money

Current portfolio holding AbbVie (ABBV) is taking a hit today after announcing a $21 billion cash and stock deal to buy Pharmacyclics (PCYC). The sell-off is due in part to the terms of the deal. The shares being issued in the deal could potentially dilute current shareholders by 10%. The other reason is the high [...]

12 Lessons Learned From Warren Buffett

From the Financial Times what Seth Klarman has learned from Warren Buffett. Value investing works. Buy bargains. Quality matters, in businesses and in people. Better-quality businesses are more likely to grow and compound cash flow; low-quality businesses often erode and even superior managers, who are difficult to identify, attract, and retain, may not be enough [...]

Beer Never Goes Out of Fashion

Beer has been with mankind since its accidental discovery some 6,000 years ago. The leading global seller of this 6,000 year old staple is Anheuser-Busch InBev (BUD). BUD's U.S. listed ADR hit an all-time high last week based on several things. 1) The company announced a 26% increase to its dividend as management continues to [...]

A Bear Market is Still a Market

A portion of a reproduced Seth Klarman letter discussing bear markets and how to manage them. https://twitter.com/herbgreenberg/status/572108646286548992 Have a process and stick with it. Good times and bad. When your process says its time to buy for better long-term returns then do so. You won't be able to time the bottom of a bear market [...]