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Geoff Gannon

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Date Joined: January 16, 2006

Country: United States

 
 
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Mueller Water Products "a" And "b" Shares Are Mispriced

Author: Geoff Gannon

Category: Finances

Some smart investors see value in Mueller Water Products (MWA) They're probably right; but, Mueller isn't the kind of situation that jumps out at me as a clear bargain I can understand However, there is something peculiar about this situation that makes it worth writing about...

Warren Buffett's Berkshire Hathaway Discloses 10% Stake In Burlington Northern

Author: Geoff Gannon

Category: Finances

Warren Buffett's Berkshire Hathaway has disclosed a greater than 10% stake in Burlington Northern Santa Fe (BNI) Through three insurance subsidiaries (Columbia, National Indemnity, and National Fire & Marine) Berkshire beneficially owns 39,027,430 shares of Burlington Northern common stock according to an SEC filing made on Friday, April 6, 2007 Berkshire's most recent reported purchase was made on Thursday, April 5th, and consisted of 1,219,000 shares purchased at $81...

Topps To Be Acquired By Eisner And Others

Author: Geoff Gannon

Category: Finances

On March 6, 2007, Topps (TOPP) announced it agreed to be acquired for $975 per share in cash in a transaction valued at $3854 million...

Traffic At Utube.com Surges 440%

Author: Geoff Gannon

Category: Internet

Traffic at uTubecom recently jumped more than 440% The website is operated by Universal Tube & Rollform Equipment Corporation a company that "specializes in buying and selling used tube mills, used pipe mills and used rollforming machines"...

Friendly's CEO Resigns; Largest Shareholder Requests Seats

Author: Geoff Gannon

Category: Finances

On September 28th, Friendly Ice Cream Corp (FRN), announced CEO John L Cutter had resigned It was not immediately clear whether Mr...

The Human Index

Author: Geoff Gannon

Category: Finances

As the Dow approaches a new all-time high (the record close was 11,72298), now would be a good time to take a break from the financial news found on your televisions, in your newspapers, (and yes) even on your computers A new high is an empty headline...

An Analysis Of Lenox (LNX)

Author: Geoff Gannon

Category: Finances

Below is a letter from Mr John L Morgan, beneficial owner of approximately 7% of Lenox (LNX), to Ms Susan E...

An Analysis Of Nintendo (NTDOY)

Author: Geoff Gannon

Category: Finances

Even before last week's announcement from Sony (SNE), it seemed nearly certain that company's dominance in the PlayStation 2 generation of video game consoles would give way to a much more level playing field for the PS3 generation This time around, Sony faces much stiffer competition from both Microsoft (MSFT) and Nintendo (NTDOY) While the Nintendo name is most closely associated with a video game platform (the NES), the company's real focus has always been the games rather than the platform...

Sony Delays Playstation 3

Author: Geoff Gannon

Category: Finances

As a result of problems related to the mass production of a key component of its Blu-ray DVD player, Sony (SNE) will delay the European launch of its next generation video game console, the PlayStation 3 (PS3) Sony will also reduce the number of PS3 units immediately available in both the US...

Sumner Redstone Fires Viacom CEO Tom Freston

Author: Geoff Gannon

Category: Finances

On Monday, Sumner Redstone fired Viacom’s CEO, Tom Freston Yesterday, Viacom announced that its Board of Directors had appointed Philippe Dauman President and CEO and Thomas Dooley Senior Executive VP...

The Importance Of Maintenance Cap-Ex

Author: Geoff Gannon

Category: Finances

Maintenance Cap-Ex The nice thing about having low capital spending, is the pleasant surprise it creates You find a company that is earning more (economically) than other companies with the same GAAP numbers So, the P/E ratio tends to exaggerate how expensive the business is...

An Analysis Of Wells Fargo & Company (WFC)

Author: Geoff Gannon

Category: Business

Wells Fargo & Company (WFC) is a huge Western and Midwestern bank that provides a diverse array of financial services to its more than 23 million customers The company employs more than 150,000 people at its over 6,000 locations nationwide Wells Fargo has about $500 billion in assets...

Cedar Fair To Buy Paramount Parks

Author: Geoff Gannon

Category: Finances

Publicly traded limited partnership Cedar Fair (FUN) will acquire the Paramount Parks business of CBS Corp (CBS) for approximately $125 billion The five parks involved in the deal are located near Cincinnati (OH), Richmond (VA), Charlotte (NC), Santa Clara (CA), and Toronto...

On Valley National Bancorp

Author: Geoff Gannon

Category: Finances

Valley National Bancorp (VLY) is a conservative bank with a strong position in northern New Jersey and a presence in Manhattan The bank, founded in 1927, has about $12 billion in assets Valley has consistently earned extraordinary returns on assets and equity...

On Microsoft

Author: Geoff Gannon

Category: Computers and Technology

Microsoft is a difficult situation for me to evaluate I think the company still has a lot of growth ahead in some areas But, that depends on where management wants to take it...

On Banks

Author: Geoff Gannon

Category: Finances

Superficially, banking appears to be a commodity business In fact, it appears to be a particularly poor commodity business, because capacity is not constrained by the need to invest in a substantial physical infrastructure True, whatever investments are made in tangible assets are usually intended as a means to acquire more intangible assets; however, a branch is hardly comparable to an oil well...

The Danger Of Inflexible Enterprises

Author: Geoff Gannon

Category: Finances

Whenever a large investment has been made in a particular area, whenever there is a lot capital, people, and ego tied up with some operation, the transition away from that operation is apt to be far slower than what an objective observer would have expected As an investor, it’s easy to look at a corporation from afar and see the business the way a rational capital allocator would see it But, very few people within the organization are able to take such a farsighted view...

Investing With Confidence

Author: Geoff Gannon

Category: Finances

Most people’s beliefs about investing are very tenuous There are, of course, people who are very passionate about investing They don’t view investing as some esoteric subject, but rather as a field intimately connected to the human behavior they observe in their everyday lives...

Mismanagement At The New York Times

Author: Geoff Gannon

Category: Finances

The New York Times Company (NYT) isn’t just reporting the news – it’s making the news At yesterday’s annual meeting, shareholders withheld 28% of their votes for the four directors elected by holders of the company’s common stock Nine other directors are elected by holders of the Class B shares, effectively granting control of the company to a group holding less than a 1% economic interest in the business...

Stocks Look Pricey

Author: Geoff Gannon

Category: Finances

The first quarter of 2006 is over Now is a good time to reflect on stock prices and the opportunities they present Bargains are scarce...

Buffett's Big Bet

Author: Geoff Gannon

Category: Finances

Over the past few days, there have been several stories written about Warren Buffett’s $14 billion bet on global stock markets I believe these stories are all in reference to this excerpt form Berkshire Hathaway’s annual report: “Berkshire is also subject to equity price risk with respect to certain long duration equity index put contracts Berkshire’s maximum exposure with respect to such contracts is approximately $14 billion at December 31, 2005...

What Is Value Investing?

Author: Geoff Gannon

Category: Finances

Different sources define value investing differently Some say value investing is the investment philosophy that favors the purchase of stocks that are currently selling at low price-to-book ratios and have high dividend yields Others say value investing is all about buying stocks with low P/E ratios...

The Wonders And Horrors Of Compounding

Author: Geoff Gannon

Category: Finances

Google Price Target: $16,57890 Some of you will immediately recognize this headline is a joke For the rest of you, I was kind of hoping the ninety cents part would give it away...

Some Lessons From Warren Buffett's Annual Letter

Author: Geoff Gannon

Category: Finances

Warren Buffett’s annual letter to Berkshire Hathaway shareholders was released over the weekend Readers will find plenty of investing lessons among the twenty-three pages Warren began this letter as he begins each letter, by stating Berkshire’s change in per-share book value: "Our gain in net worth during 2005 was $5...

Return On Assets Is The Hit By Pitch Of Investing

Author: Geoff Gannon

Category: Finances

Despite all appearances to the contrary, this is a post about investing – not baseball So, to those of you who love reading about investing but hate reading about baseball: don’t be deterred It’s worth reading all the way through...

An Analysis Of The Journal Register Company (JRC)

Author: Geoff Gannon

Category: Finances

Let me begin with some of the eye – catching metrics that might lead an investor to consider purchasing shares of the Journal Register Company (JRC) This newspaper company has a price – to – earnings ratio of 113, a price – to – sales ratio of 0...

An Analysis Of Journal Communications (JRN)

Author: Geoff Gannon

Category: Finances

Journal Communications (JRN) is comprised of seven essentially separate businesses: The Milwaukee Sentinel, Community Newspapers, Television Stations, Radio Stations, Telecommunications, Printing Services, and Direct Marketing The company’s five reportable segments do not exactly match these seven businesses; however, I believe an investor should analyze JRN on the basis of these seven businesses and their constituent properties, rather than as a single going concern with five reportable business segments Additional reasons for this belief will be outlined below...

The Logic Behind Technical Analysis

Author: Geoff Gannon

Category: Finances

Let me first say that I do not now engage in technical analysis; nor, have I ever engaged in technical analysis I do not believe doing so would be a productive use of my time Having said that, I do not claim technical analysis has no predictive value...

An Analysis Of Overstock.com (OSTK)

Author: Geoff Gannon

Category: Finances

Why is a value investor writing about an unprofitable internet company Because value investing is about finding dollars that trade for fifty cents; with a market cap of less than 75% of sales, Overstockcom (OSTK) looks like it may be exactly that...

An Analysis Of Lexmark

Author: Geoff Gannon

Category: Finances

In 2005, Berkshire Hathaway bought about a million shares of Lexmark I haven’t followed this story closely, but I assume the stock was purchased by Lou Simpson rather than Warren Buffett I have only two reasons for believing this: the total purchase was small relative to Berkshire’s investable assets and the Lexmark purchase is typical of Simpson’s investment philosophy (or at least, what little I can glean about his investment philosophy from his past purchases)...