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MSFT

Why Investors Hate Apple — and Are Dead Wrong

in FP: Latest/Stock Analysis

 In this article I don’t discuss Apple’s valuation, balance sheet, or financials.  I covered these topics in great detail in these articles a few months ago (Part 1: Psychology and Part 2: Value of Ecosystem).  Nothing has really changed since, except that Apple announced an enormous share buyback.  This article focuses on Apple’s products, innovation,…

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Microsoft Hell

in FP: Latest/Stock Analysis

As a value investor I used to spend a great deal of time in Microsoft hell – on one hand there was the company with enormous cash flows, an incredible return on capital, a huge moat, a cash-rich balance sheet, and trading at single-digit multiples (if you adjust for cash).  But on the other hand…

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I am back!

in FP: Latest/Stock Analysis

I am back!  It was an amazing trip.  It started with Warren Buffett’s Omaha.  I flew into Omaha on Thursday morning, and a few hours later received a call from the CFA Society of Nebraska, asking me to give a talk to their members.  Whitney Tilson and his partner Glen were supposed to do a…

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Great Job Bob!

in Stock Analysis

Herb Greenberg wrote a wonderful column and said something I’ve wanted to say for a long time, that blaming Bob Nardelli for the lackluster performance of Home Depot’s (HD) stock is just plain silly. Since Nardeli took over Home Depot in 2000, Home Depot’s earnings have grown at an amazing clip of 20% a year, revenues over 15%, net margins have increased…

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