Thursday, June 23, 2016
Friday, June 17, 2016
I wrote about Bracell 10 months ago as a potential value stock. What interested me was the oligopolistic industry in which Bracell was the low-cost operator. Temporary conditions of oversupply (which can last years) meant that Mr. Market had no interest in this company, which is where I like to come in.
Friday, June 10, 2016
Wednesday, June 8, 2016
Philosophy is well outside my circle of competence, and yet I still enjoyed the English translation of Volatire's Candide. It's a satirical novel that ridicules what appears to be the prevalent thought of Voltaire's time: that whatever happens, no matter how horrible, it is for the best.
Tuesday, June 7, 2016
For ages, mankind tried to conquer the sky. Many had given up hope that it could ever be done. Few would have expected the breakthroughs to come from a pair of brothers from Dayton, Ohio. The Wright Brothers tells the unlikely story of the men who created air travel.
Monday, May 30, 2016
Shareholders of Data Group should not be surprised that they are getting poor treatment from the company's insiders, because this is consistent with the company's recent behaviour. Just a few months ago, the company essentially bankrupted its equity holders by converting debt to equity, rather than shore up the company's capital situation with a rights offering that CEO Michael Sifton originally agreed to backstop and then backed out of.
We take money for granted. Need to pay for something? We just whip out some piece of paper or some plastic card or some electronic device and see it done. Ledgers are debited and credited in the background without a second thought. But for most of human history, this medium of transfer that makes the exchange of goods so easy didn't exist. In The History of Money, Jack Weatherford takes us through money's evolution, from the first coins in ancient Greece, to the current electronic forms of money that are all Greek to me.