Peter Doyle
Peter Doyle
barrier companies create general highly invested poor retailing returns unless
Retailing in general is highly competitive and most companies have very poor returns on invested capital. Unless you create a barrier of entry, you're never going to see very big returns.
companies content disney estimates research walt
We own a lot of content companies, companies like Walt Disney ( DIS : Research , Estimates ).
companies core cyclical incredibly large pockets quite technology
There's going to be pockets of technology that do incredibly well, ... But the valuation is still being the core of the very large companies are quite high, especially if they're really cyclical in nature.
commission companies funding life paying policy risk taking
There had to be a different way of recognising and paying commissions, and now the life companies will be taking the risk of policy continuation by funding commission streams,
bring companies deliver focus goes good internet likely people service trying
The big thing about the Internet is really the distribution capabilities, and a lot of what goes on in the Internet is not about technology. It's really about having a proprietary good or service that you can deliver over the technology. And we're trying to focus on those companies that we think have something proprietary that will likely bring people back repeatedly.
brands companies
Those companies that have brands and that have something proprietary will do well.
coming phone provide satellite three
There are really three technologies that are going to provide broadband. It's going to be cable, satellite and DSL, which is coming over the phone lines,
basis buy capital continue exploring levels market ongoing present review shares themselves ways
We review our capital levels on an ongoing basis and will, where appropriate, continue to buy back shares through the market as opportunities present themselves while simultaneously exploring other ways of effectively deploying capital.
bear kinds market seeing short summer typical
We're seeing a rally, but it's a summer day and it's typical of a bear market to have these kinds of sharp, short rallies,
continue distinct last
If other equities continue to deflate, which is a distinct possibility, Berkshire Hathaway could become the lender of last resort.
expand felt management needed plans team
We had plans in place to expand the management team and he felt he needed to do something on his own,
assets billion buyer cash distressed flow generates great last pick prices resort warren
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.
dominant financial national players
(Fidelity National Financial is) one of the dominant players in the industry,
asset company content discount globally likely media net occur trades
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.