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AI Fear Trade, Emotional Markets, Avoiding Value Traps, and Current Opportunities
Some thoughts on the recent emotional "AI Fear Trade" along with case studies; and comments on NRP, DOUG, PBI, oil, silver, and DIS
 • John Huber
Lincoln Post: NFLX and Theaters, FCNCA Earnings
More Thoughts on NFLX and Theaters, Ted Sarandos comments for that business, CNK, MCS; also FCNCA earnings update, and the overemphasis on asset…
 • John Huber
Contrarian Low-Cost Producer at a 15% FCF Yield + Excess Real Estate
Large margin of safety from the valuable real estate being monetized, underappreciated moat with key cost advantages, growth prospects thanks to new law…
 • John Huber
Oil Free Cash Flow: California and Canada vs Texas; Charlie Munger's Investment Mistake; A Producer at Half of Liquidation Value
Why California & Canadian oil production has better ROIC and more FCF than Texas; a look at one of Charlie's biggest investment mistakes (his own…
 • John Huber
Movie Theaters Risk and Opportunities; Netflix/WBD Deal; Is Disney Cheap?
Is the recent selloff in CNK overblown? Thoughts on the NFLX/WBD deal; MCS FCF; Thoughts on Disney and its valuation
 • John Huber
Two Types of Bank Investments; Thoughts on Asset Sensitivity; FCNCA's Value
Summary of bank investment strategy (bargains and compounders); Asset sensitivity might be misunderstood; a comparison of FCNCA vs other regional banks
 • John Huber
High FCF Yield Stocks; Returns from Business Results vs P/E Ratio Expansion
Examples of stocks that offer high FCF yields, where returns are earned from business results without requiring P/E expansion
 • John Huber
Quiet Compounders, a Hidden Moat and an 18% FCF Yield at Pitney Bowes (PBI)
A high margin, high ROIC business with a hidden moat for 5.5 P/FCF that is buying back shares.
 • John Huber
A Compounder That's Ramping Up the Buyback
A big buyback announcement (14% of the shares) & recent insider buying; summary of the valuation and thoughts on the opportunistic mindset of its…
 • John Huber
A Gem of a Thrift Conversion
Recently converted thrift trades at 65% of book value, has lots of excess capital, pristine credit quality, is buying back meaningful amounts of its…
 • John Huber
CNK Buyback, Special Situation Review, and Some Thoughts on Theaters
A Lincoln Post with some quick thoughts on CNK's valuation, its new buyback announcement and a review of the Fairfax preferred shares.
 • John Huber
Investment Categories and Update on Holdings
Investor letter to Saber clients from last fall that outlines three types of investments in our portfolio, along with some updated comments on the…
 • John Huber
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