NEW YORK (Reuters) - O. Mason Hawkins, whose $34 billion mutual fund firm is Chesapeake Energy Corp's largest shareholder, is best known as a Warren Buffett-style value investor who takes big stakes in companies and holds them, often for years.
O. Mason Hawkins, whose $34 billion mutual fund firm is Chesapeake Energy Corp's largest shareholder, is best known as a Warren Buffett-style value investor who takes big stakes in companies and holds ...
(Reuters) - Dell Inc's largest independent shareholder, Southeastern Asset Management Inc, has told the computer maker that a $24.4 billion buyout bid undervalues it, adding to a chorus of investor dissatisfaction with the landmark deal to take it private, two sources close to the situation said.
There’s a saying in the investing world that you should only invest in businesses you understand. Most people bring up Warren Buffett’s name when mentioning that saying.
Here’s my take on that: it’s garbage advice.
It’s not true that you have to understand a business or industry before investing in it.
Where do great investors come from?
I’m not sure what the hurdle rate for greatness is, but Guy Spier has put up impressive results.
His Aquamarine Fund has returned 463% since inception in 1997, versus just 167% for the S&P 500 (a broad proxy for the market). Put another way, $1 million invested at the fund’s inception is worth about $5.6 million today, versus $2.7 million for the market.
Over the past two years, Chesapeake Energy's (CHK) profitability has been weighed down by low natural gas prices and high drilling costs. In 2012, the firm posted a sizable operating loss of around $1.7 billion. However, it has been taking steps to get back on track by concentrating on the core portions of its most important plays, boosting its liquids production, and focusing on improving drilling efficiencies.
Ganaxi Small Cap Movers submits:
Summary: Southeastern Asset Management, led by founder and CEO Otis Mason Hawkins, manages $37 billion in equity assets under the Longleaf Partners family of mutual funds and in separately managed accounts. The Longleaf funds have consistently outperformed the market and been ranked among the nation's best mutual funds, with the flagship Longleaf Partners Fund having returned 11.5% annualized versus 9.0% for the S&P 500.