What I Wish I Wrote ~ October 5, 2017

Performance of dividend payers in the S&P 500 versus non-dividend players in the S&P 500 (Dividend Growth Investor)

Is DaVita juicing its earnings through an opaque non-profit? Warren and Charlie’s Excellent Insurance Gambit (Sirf-Online)

Did Warren Buffett kill value investing? (The Irrelevant Investor)

The psychological biases that leave us unprepared for disaster (Tim Harford)

What do the best investors do that the rest don’t? (Behavioral Value Investor)

Google Travel is worth $100 Billion (Skift)

Reciprocation Bias. It can build trust and love. Or it can lead to great harm. (Farnam Street)

You are Facebook’s product (London Review of Books)

We need to stop pretending that the autonomous car is imminent. (Recode)

Should you top-off a position (aka average down) or double down? (MarketFox)

Sequoia Fund trying to repair some reputational damage from its Valeant fiasco. (The Washington Post)

And now you know why you can’t stop stuffing your face with those cheese puffs. (Now I Know)


Interview with Warren Buffett and the two Ts, Ted & Todd

Yahoo! Finance conducted an interview with Warren Buffett, Ted Weschler, and Todd Combs.

If you like to read all day and manage money, then Berkshire is the place to be. This is how Todd Comb’s describes his daily routine.

“I get in around 7 or 8, and I read until about 7 or 8 at night,” he says with a laugh. “And I go home, and see my family, and then I’ll read for another hour or two in bed at night. And you know, there might only be three to four phone calls the entire week. So there are very, very few interruptions. I have a great assistant who knows everything that I read, and she kinda provides everything, and there’s a back and forth between us where I’ll mark it up, and give it back to her. And we have a system for filing and so forth. But it’s literally just reading about 12 hours a day of everything I just mentioned.”

What I Wish I Wrote ~ November 25, 2016

A collection of mostly investment related links that I wish I had the talent to create.

aircraft technology
View full infographic at Visual Capitalist

The Future of Military Technology is Intense (Visual Capitalist)

Is Starbuck’s (SBUX) on its way to becoming a dividend aristocrat? (Dividend Growth Investor)

Notes from Warren Buffett’s meeting with MBA students at the U. Of Maryland. (ValueWalk)

Joel Greenblatt on Consuelo’s Mack’s WealthTrack. (YouTube)

Or read the full transcript of the interview. (Hurricane Capital)

Does CBRE Group have an emerging moat? (Punchcard Research)

A list of fintwit accounts to follow. (Sentieo)

Learn the art of value investing from 6 super investors: Howard marks, Tom Russo, Guy Spier, Monish Pabrai, Rupal Bhansali, Arnold Van Den Berg. Free course on Udemy. (Udemy)

Why moats are essential to profitability (Restaurant Edition). (25IQ)

Novo Nordisk, What Now? (Value and Opportunity)

What I Wish I Wrote ~ Mar. 4, 2016

We’re in a world of abundance. Is it leading to too many malinvestments? (The Reformed Broker)

A good breakdown of Berkshire-Hathway’s 2015 from Warren Buffett’s latest annual letter to shareholders. (The Aleph Blog)

Speaking of Berkshire-Hathaway, in 1999 Yahoo! was worth more and 19 other things that actually happened in 1999. (Dividend Reference)

The three paths to outperformance. (Morningstar)

“The most important financial services company you’ve never heard of”. (Intrinsic Investing)

Investing professionals should meditate. (Jason Voss on LinkedIn)

“It’s hard to believe that $65.7 billion of Warren Buffett’s $66 billion net worth came after his 50th birthday”. And other hard truths investors have a hard time wrapping their heads around. (Morgan Housel @ The Motley Fool)

Investing in you self. The 100 things list. (Budgets are Sexy)

How to be frugal and still enjoy life. (Dividend Mantra)

How safe is Chevron’s (CVX) dividend? (The Div-Net)

A bunch of links all focused on Warren Buffett and his recent comments on Berkshire-Hathaway and its portfolio of companies. (Value Investing World)

Lesson learned from Richard Thaler on behavioral economics. (25iq)

Radical investment advice. Do nothing. (Jason Zweig @ WSJ)

Software is the new oil. (AVC)

Book review on Quality Investing: Owning the Best Companies for the Long Term. (Value and Opportunity)

What makes life worth living in the face of death? Try and not to shed a tear after reading the 2nd to last paragraph. (Farnam Street)

The 4 (But Really 3) Dividend Aristocrats Warren Buffett Owns

I’ve seen this headline a few times Warren Buffett’s 4 Favorite Dividend Aristocrats. Just like everyone else I’m susceptible to the listicle and I clicked it. If you’re a Buffett follower you can probably guess the four. In case you can’t the four are:

  • Coca-Cola (KO)
  • AT&T (T)
  • Wal-Mart (WMT)
  • Procter & Gamble (PG)

But here’s the thing. Technically Berkshire-Hathaway still owns 52,477,678 shares of Procter & Gamble (PG), but it entered into a swap agreement with Procter & Gamble to sell its shares back to Procter & Gamble in exchange for Duracell. In the latest letter to shareholders, the Procter & Gamble (PG) stake is marked as held for sale.


From Berkshire-Hathaway 2015 Annual Letter. Click image to enlarge.
From Berkshire-Hathaway 2015 Annual Letter. Click image to enlarge.

So yeah Warren Buffet owns 4 of the Dividend Aristocrats, but one of them is in the process of being sold out of the portfolio.


Warren Buffett’s 4 Favorite Dividend Aristocrats (Sure Dividend)