Interview with Mr. Geoff Gannon of Focused Compouding

May 22, 2017 Uncategorized 0 Comments

Below is an interview with Mr. Geoff Gannon.  Mr. Gannon should be well-known to most denizens of the value investing corner of the internet.  Mr. Gannon is a prolific writer with articles featured on GuruFocus, his own website and the…

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Follow Up on CBRE

December 9, 2016 Process 10 Comments

On this blog, I try to be as transparent as possible.  That is why I publicly track the stock performance of all of the companies I write about.  I do not try to play up my wins and bury my…

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CBRE:  Using An Industry Deep Dive to Detect an Emerging Moat

November 17, 2016 Moats 8 Comments

“Future profitability of the industry will be determined by current competitive characteristics, not past ones. Many managers have been slow to recognize this. It’s not only generals that prefer to fight the last war. Most business and investment analysis also…

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How Are We Doing?: A Second Look at Amerco (UHAL)

September 7, 2016 Moats, Process 5 Comments

This post is the second in an occasional series where we will review our previous analysis – the good, the bad and the ugly – to discern what we are doing right and what we can improve. After the self-flagellation…

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A Cautionary Tale: Trump Hotels & Casino Resorts (DJT)

August 19, 2016 No Moat 8 Comments

From June 7, 1995 to September 27, 2004, Trump Hotels & Casino Resorts (DJT) was a publically traded corporation listed on the NYSE.  These 10 years were not particularly auspicious.  After a decade in which it never earned a penny,…

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Hibbett Sports: A Bricks-and-Mortar Winner in Retail?

August 12, 2016 Moats 0 Comments

In 1996, the Wall Street Journal wrote its first article on online competition for travel agents.  “For more than a year,” the newspaper reported, “airlines have been trying to cut their payments to travel agents, who account for 80% of…

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Product Review: Sentieo

August 4, 2016 Uncategorized 1 Comment

Note:  We were granted a complimentary subscription to Sentieo to enable us to review their service. Sentieo is a web-based information service that combines data on companies worldwide along with a variety of software applications that allow financial professionals to analyze company fundamentals,…

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How Are We Doing?: A Second Look At Conn’s

July 29, 2016 No Moat, Process 1 Comment

This post is the first in an occasional series where we will review our previous analysis – the good, the bad and the ugly – to discern what we are doing right and what we can improve. A key skill…

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Following Up on Winmark

July 21, 2016 Moats 0 Comments

In last week's on Winmark (WINA), we noted that the company's free cash flow had been flat for the past five years.  But, we left the reason for this phenomena open.  Specifically, we wrote:  "Somewhat oddly, as the chart below shows,…

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Winmark & The Evolving Retail Industry

July 13, 2016 Moats 1 Comment

 “Retailing is a tough, tough business, partly because your competitors are always attempting and very frequently successfully attempting to copy anything you do that's working. And so the world keeps moving. It's hard to establish a permanent moat that your…

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