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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Mark Marcellus who wrote (16439)2/16/2003 12:59:43 AM
From: cfimx  Respond to of 78673
 
1992: "leaving the question of price aside, the best business to own is one that over an extended period can employ LARGE amounts of incremental capital at very high rates of return."

emphasis mine.

PS: Buffett does care about moats, but DOESN"T care about "high" margins, UNLESS it is the margin of NET INCOME/TOTAL INVESTED CAPITAL.



To: Mark Marcellus who wrote (16439)2/16/2003 5:16:02 AM
From: Dale Baker  Read Replies (1) | Respond to of 78673
 
Interesting that MSFT and BRKB provided the same return over the last five years:

finance.yahoo.com,^gspc,^ixic&a=v&p=m50,m200,s&t=5y&l=on&z=m&q=l

Since both companies outperformed their peers in the market indexes by a wide margin, my guess is that it pays to invest in good management instead of worrying about whose valuation model is more "correct" (which strikes me as arguments about how many angels can dance on the head of a pin). JMHO.


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