RE:RE:100% Ownership in the Deerfoot - an Excellent Move!Thank you Sage!
You are so right saying you make your profit when you buy. The price paid relative to the value received is the most important thing. Howard Marks and Warren Buffett would agree.
Interesting thing about Howard Marks. He wrote a book a number of years ago called The Most Important thing. He tells a story about how he came up with the title:
Back in the day, he would go to clients and talk about investing. He would say things like "the most important thing in investing is not to overpay" and then five minutes later he would say "the most important thing in investing is to minimize risk".
Well after about 45 minures, he had said "the most important thing in investing is..." about 21 times and each time it was a different most important thing.
And so he wrote a book with, I think its 21 items or so, that each are the most imortant thing.
I strongly recommend you read everyting you can by Howard Marks. By far he and Warren Buffett are my biggest influences when it comes to business and investing (really they are the same) and have shaped how I think.
Here is a link you can cut and paste.
Memos (oaktreecapital.com) This brings you to Oaktree Capital's site where all of his Chairman's Memos have been archived and goes back to his very first one in 1990.
They are free and relly worth reading for any serious investor. I think you will enjoy.
Nice to see GH pick up 900 @ $7.98 and 200 @ $8.00 this morning. Those prices paid are awesome.
In the spirit of Howard, I will put up short post called The Most Important Thing and it will look at the two most important areas to focuse on when analyzing GH going forward.
Have a great day Sage!