(Fidelity National Financial is) one of the dominant players in the industry, |
[Doyle's second selection is Fidelity National Corp.] Basically when anyone buys a home they need to get title insurance. And this company is the dominant player in that business, ... And it is kind of what I consider printing money. It trades at about seven or eight times earnings. I think a lot of people doing refinancing and a lot of business being generated. |
A company's fortunes generally don't change over a month's time or so, ... We want them to be able to execute their business strategy, and we give them at least three to five years. |
A credit card company is really just a computer. There are really few physical limitations to growth. |
All those names on that list actually reflect kind of a margin of safety where even if the investment pieces don't pan out, you're likely to do well or not sustain a permanent erosion of capital. So that's what we've been focusing on, |
All those things combined, it's hard to see where the market's going to move higher, |
As more people get on the Internet and they get more savvy and learn how to use it, they'll just go straight to the brands, |
Berkshire Hathaway sits on $45 billion of cash and generates about $5.2 billion of cash flow annually, ... Berkshire and Warren Buffett have really become the lender of last resort or the buyer of last resort of many assets. And I think he's going to pick up great assets at very distressed prices going forward. |
Either a business has good economics or it doesn't. If it's not going to be good for a three-month period, it won't be good for a long period of time, and vice-versa. |
I don't expect any changes to the portfolio, ... We're pretty comfortable with the names Ryan has in the fund. |
If other equities continue to deflate, which is a distinct possibility, Berkshire Hathaway could become the lender of last resort, |
If other equities continue to deflate, which is a distinct possibility, Berkshire Hathaway could become the lender of last resort. |
If the metal itself were to double from here, because there's really no supplies in gold stocks, the gold stocks could actually make the technology or Internet stocks of yesterday look like they were standing still So, I think the real issue was the opportunity costs of owning gold in the past, ... That has come away or it's been almost eliminated because the interest rates are so low. So I think every portfolio should have some exposure, not to go crazy, maybe five or six percent, but I think it has a play and I think it still has a lot of legs left. |
is likely to occur globally and this company has the media or the content that's going to be distributed and it trades at a discount to its net asset value. |
It just shows you how risky it can be, ... One company reported pretty good numbers and the market jumped very aggressively on that. I think it's going to be a case-by-case basis. |