Edina Realty (Great Grand)Parent Co. Honored [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] When people think of capital, they most likely think of financial capital — that is, money. But there’s also “political capital” — a combination...Read More
Penny Stock? Hardly One of the, umm . . . downsides of sporting a 3-digit share price is that the gyrations are bigger, too (at least nominally). So, Google’s stock dropped $68 a share today immediately after disclosing that their latest quarterly earnings were disappointing. Make that, before they disclosed their quarterly earnings disappointment (their financial...Read More
Warren Buffett’s Freudian Slip This land is your landThis land is my(?) landFrom California to the New York islandFrom the red wood forest to the Gulf Stream watersThis land was made for you (and me?). –Lyrics, “This Land is Your Land”; Woody Guthrie (tweaked by Ross Kaplan) The first time I read “Pretty Good for...Read More
Warren Buffett’s 2009 Annual Letter Investors who expect Berkshire Hathaway’s future performance to match its historic returns are guaranteed to be disappointed. So who is the author of the above quote (paraphrase actually)? Some money manager or securities analyst trying to making their “bones” with a rare “sell” call on Berkshire Hathaway? (Full disclosure: Berkshire...Read More
Just Another Day at the (Virtual) Office Based on market time, showing feedback, etc., I advised my client that a price reduction on her home was in order, and she agreed. So I got her the necessary paperwork, she signed it, and I forwarded it (via my front desk) to MLS for them to input....Read More
“Basically, It’s Over: A Parable About How One Nation Came to Financial Ruin.” –Charles Munger; Slate (2/19/2010) “The Fat Lady Has Sung.” –Thomas L. Friedman; The New York Times (2/20/2010) Anyone else note the eerily similar notes struck by Thomas Friedman and Charles Munger? If you didn’t know, Munger is Warren Buffett’s long-time right-hand man...Read More
