Europe has done well, so they are all in Europe. We believe our shareholders pay us to make investment decisions. They don't pay us to look like the index. |
I continue to think that, as a region, the Pacific Rim looks good. Brazil is still undervalued. Stocks from the U.K. and New Zealand are undervalued. |
It has the most significant port operations on an island nation. I trust the management and will leave it to them, but given the quality of the assets there seems room on the upside. |
It's real hard for us to think that it's anywhere near a sell. |
Managers, instead of following their convictions, are following the crowd. There is a herd instinct. |
Maurice Saatchi cultivated the press instead of the clients. |
The most undervalued stocks today are large-caps. |
The shareholders have done very well since he left. We probably tripled our original investment over seven years. |
We go where there is value, not where everyone else goes. Sometimes the best value is where no one else is at. |
We rallied the shareholders to vote out Mr. Saatchi, and then we told the board we were going to vote them out. |
What changed my mind about getting a doctorate is the university stressed research over teaching. I wanted to teach. |
Whereas Toyota is the world leader in autos from an operational perspective, they are still a laggard in terms of running the business for the owners. They do not appear to care about maximizing shareholder value. |
You have to be careful because of the nature of the corporate structure. |
You'd be hard-pressed to find that somewhere else. |