tag:blogger.com,1999:blog-1527840491496268397.post1188970346608171703..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Review of The Synergy Trap by Mark L. SirowerUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1527840491496268397.post-88859231400336523662017-09-25T22:27:01.234-07:002017-09-25T22:27:01.234-07:00So, over time, I’ve shifted much more to a high qu...So, over time, I’ve shifted much more to a high quality investing style. I want to find good to great businesses that the market isn’t pricing like good or great businesses. And finding those generally requires one of two situations:<br /><br />Some shift in business conditions that have dramatically changed a company’s (or even an entire industry’s!) structure / outlook but that the market hasn’t picked up on yet. <br /><br />The classic example of this would be a truly transformational merger. To take this back to Charter, if you listened to them when they bought Time Warner and ran the math on just how large the synergy / cost cutting / growth opportunity was, you’d realize the merger would create massive value for shareholders and the market hadn’t come close to adjusting for that.<br /><br />http://www.yetanothervalueblog.com/2017/09/some-evolving-thoughts-on-research.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-58554222360639422652017-01-23T20:10:24.341-07:002017-01-23T20:10:24.341-07:00Quaker Oats:
Starting in 1902, the company's o...Quaker Oats:<br /><i>Starting in 1902, the company's oatmeal boxes came with a coupon redeemable for the legal deed to a tiny lot in Milford, Connecticut. The lots, sometimes as small as 10 feet by 10 feet, were carved out of a 15-acre, never-built subdivision called "Liberty Park". A small number of children (or their parents), often residents living near Milford, redeemed their coupons for the free deeds and started paying the extremely small property taxes on the "oatmeal lots". The developer of the prospective subdivision hoped the landowners would hire him to build homes on the lots, although several tracts would need to be combined before building could start. The legal deeds created a large amount of paperwork for town tax collectors, who frequently couldn't find the property owners and received almost no tax revenue from them. In the mid-1970s, the town put an end to the oatmeal lots with a "general foreclosure" condemning nearly all of the property</i>CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.com