Monthly Archives: August 2011

CSC Strategy Letter | Number 2 | The Slow Investment Movement

Click here to download Cove Street Capital’s August Strategy Letter, Number 2 “The Slow Investment Movement.”

Atlas Shrugged

Federal Reserve Chairman Ben Bernanke’s speech in Jackson Hole today was notable for what it did not contain—a big silly and asset levitating QE3 program—although he did leave that possibility open: “In addition to refining our forward guidance, the Federal Reserve has a range of tools that could be used to provide additional monetary stimulus. We discussed the relative merits and costs of such tools at our August meeting. We will continue to consider those and other pertinent issues, including […]

But This CEO Goes to 11

Many things can aggravate an investor in a very cheap stock. This one is particularly irking. Leo Apotheker, the “9 month old” CEO of Hewlett Packard, for reasons unbeknownst to those rationally running public companies, participated in the following dialogue with Sanford Bernstein analyst Tom Sacconagi on June 2, 2011 in regard to the CEO’s assertion that HP can hit a $7 per share cash earnings target by 2014. Tom: “On a scale of 1 to 10, what is your […]

The World’s Richest Hypocrite

It seems hard to reconcile this piece by Warren Buffett with the fact that he is engaged in possibly the largest tax-free transfer of wealth in the history of modern mankind.