Interview with Bill Fleckenstein for MAC
Interview with Bill Fleckenstein for Windows
You can follow all the replies to this entry through the comments feed.
What a great interview and exchange of ideas between Fleckenstein and you. Your analyses and conclusions are correct and based on sound Austrian school precepts — not Keynesian nonsense. Soldier on!
I hope Fleckenstein’s longer experience provides you the encouragement and confirmation you need to trust your sound work and to further develop the patience value investing requires.
Your insightful views produce considerable respect for what you do.
A greatful reader,
Good to hear from you and thanks for the comment.
what is up with the MMY trading halt?
I don’t know. I wouldn’t mind if all of the miners were halted from trading for the next 5 years.
Good interview. I think a major difference in “timing” the inevitable rise in interest rates now versus say the housing bubble, is that the Fed and other central banks can “print” more money whereas the housing lenders did not have infinite resources (and if the Chinese stop buying dollars then the Fed will have to actually print more). So timing of this “bubble” could possibly drag on for a very long time.
You also stated you are having trouble find good values. I have been buying JCS near and below current prices. 38% of it’s price is cash and investments, they own property, they pay a secure ~6% dividend yield and are (too) conservatively managed.
A more speculative play with a potentially big moat is UPIP given their net tax loss carryovers will shield their income for sometime and is worth maybe 2X the current stock price. It’s a play on patents with very good dates and art.
You can use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
© 2011 Classic Value Investors. Site by Paperbagged Web Development