Servotronics (SVT) is a designer and manufacturer of advanced electronic control components and cutlery. The control components are mostly provided to the military, while the cutlery products are various kitchen knives marketed...
Read MoreNo one said being a value investor was going to be easy. In fact, I’ve heard several different value investors make comments about how difficult it is and how much discipline it requires to be a value investor. For...
Read MoreSometimes managers and/or directors will betray the trust bestowed on them by shareholders. One of the most egregious examples of this occurrence took place with Conrad Black of Sun-Times Media group.Conrad Black owned a...
Read MoreUSAir Group:In Aug 1989, Berkshire Hathaway invested $358 million in convertible preferred shares of USAir Group. These shares paid a yield of 9.25% and could be converted into USAir Group’s common shares at a price of $60...
Read MoreEvery month, the Consumer Confidence Board and other agencies poll consumers to gauge their future buying decisions. As seen from the chart below, consumer confidence is at levels not seen since the early 1990s (source:...
Read MoreThe following summary was written by Frank Voisin, who regularly writes for Frankly Speaking. Recently, Frank sold four restaurants and returned to school to complete a combined LLB/MBA.Convertible issues are those which allow...
Read MoreThe auto industry is in a tremendous drought. For those who believe the industry will emerge from this drought sometime in the next few years, this is a great time to pick up some bargains in this industry. On Saturday, we...
Read MoreSalomon Inc.:In 1987, prior to the stock market crash, Buffett had purchased $700 million worth of Salomon convertible preferred shares. The deal was requested by the CEO of Salomon, to help prevent a takeover of the company....
Read MoreWhen we discussed operating leases we saw that as per current accounting rules, the debt shown on a company’s balance sheet does not adequately present a company’s true debt level. Unfortunately, off-balance sheet...
Read MoreConvertible preferred stocks are securities that have equity and bond like characteristics. Convertible preferred shares have higher yields and significantly more certainty of dividend payments compared to a company’s...
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