rclosch

Richard Losch

rclosch’s Activity

Tue Feb 9

NL

Boards Post

rclosch replied to the Berkshire Hathaway board. 8:58 PM

Re: Question on PSX Investment

Such reasoning would suggest that PSX is a relatively short term oriented investment. Decent returns for now, better than cash, but not really a fit long term.

What am I missing?


Your points are valid, and it is certainly too [more]

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Boards Post

rclosch posted to the Berkshire Hathaway board. 1:42 PM

Another 1.7 million

Last week though Wednesday BRK purchased another 1.7 million shares of PSX bring it's position to 74 million shares. Thursday PSX traded mostly above $79.00, if so past patterns hold they would have bought little or nothing. Friday the price was down [more]

Sun Jan 17

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Boards Post

rclosch replied to the Berkshire Hathaway board. 3:45 PM

Re: Warren is buying PSX are You?

I am instead referring to the capital investments that players in the industry are making.

There certainly has been a huge flow of funds into Petrochemical facilities in the US and this is very likely to lead to an oversupply of some [more]

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Boards Post

rclosch replied to the Berkshire Hathaway board. 3:10 PM

Re: Warren is buying PSX are You?

PSX has high level of CapEx. FCF not that large from VL numbers.

Projected numbers:

2015 CF: $10.35, CapEx $8.75
2016 CF: $10.60, CapEx $7.40.


The capital spending listed in PSX’s 10Q understates the company's [more]

Sat Jan 16

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Boards Post

rclosch replied to the Berkshire Hathaway board. 2:35 PM

Re: Warren is buying PSX are You?

What does Warren see that I'm not seeing?

http://boards.fool.com/phillips-66-cap-ex-31920904.aspx

“It’s easy to see what Buffett likes about Philipps 66. [more]

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Boards Post

rclosch posted to the Berkshire Hathaway board. 10:55 AM

Warren is buying PSX are You?

Warren has been buying below $80

Purchases up 01/13/2016 (shares)

01/06 759,295
01/07 1,645,887
01/08 1,741,210
01/11 902,444
01/12 861,470
01/13 1,584,416

Total so far in 2016 8,254,015

As of [more]

Wed Jan 13

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Boards Post

rclosch posted to the Berkshire Hathaway board. 11:39 AM

Building a Foundation

With the news being uniformly bad in this morning’s WSJ I see nothing to be gained by piling on. Yes the market is overvalued, but what is there to say that it will not get wildly more overvalued before it corrects like it did in 2000. So I will try [more]

Wed Jan 6

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Boards Post

rclosch replied to the Berkshire Hathaway board. 11:37 PM

Re: OT: The Big Short

There is just something about human nature that is attracted to momentum investing.

If it weren’t for human nature investing would be easy. Not only are we attached to momentum but we like to panic at the bottom.

I thought [more]

Sat Dec 19

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Boards Post

rclosch replied to the Berkshire Hathaway board. 11:31 AM

Re: OT: A Christmas Letter From The Fund Industr

Any idea of the aggregate annual gross margin of all equity "helpers" in the US?

It seems to me that grouping all helpers into one class, is something of an overgeneralization. Obviously there are helpers that add value and [more]

Fri Dec 18

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Boards Post

rclosch replied to the Berkshire Hathaway board. 4:19 PM

Re: OT: A Christmas Letter From The Fund Industr

(this presupposes that you define "passive investors" as those holding the entire market, investable cap weighted...a pretty reasonable definition.

What percentage of real time self-managed Investors do you feel meet this [more]

Mon Nov 30

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Boards Post

rclosch posted to the Berkshire Hathaway board. 10:37 PM

3G Part 2 - Target Rich

An interesting part of the story about 3G, is that it operates in a much more target rich environment than Berkshire.

Restaurant Brands International

In 2010, 3G Capital purchased Burger King Holdings in a leveraged buyout for $3.3 [more]

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Boards Post

rclosch replied to the Berkshire Hathaway board. 3:47 PM

Re: OT; 3G Culture Pt. 1 -“Dream Big”

Just an aside. I do want to point that there is a lot of (valid in my opinion) criticism of Collins' "Built to Last" (and even "Good to Great" and "In search of Excellence").

The companies identified in [more]

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Boards Post

rclosch posted to the Berkshire Hathaway board. 2:21 PM

OT; 3G Culture Pt. 1 -“Dream Big”

“Dream Big” is a history of the 3G partners from their days a Garantia Bank in the 1970’s up though the Imbev’s purchase of Anheuser-Busch in 2008. The story is carefully researched and provides a detailed history of the partnership, its formation, [more]

Sun Nov 22

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Boards Post

rclosch replied to the Berkshire Hathaway board. 2:04 AM

Re: Loosing my Mind

Thanks in advance for your thoughts.

Relax you are doing well,its just our normal irrational market. Volatility is not risk.
Buy good stocks and ignore the crazy stuff.

Or like Buffett says when you feel the need to do [more]

Fri Nov 20

NL

Boards Post

rclosch replied to the Berkshire Hathaway board. 11:07 AM

Re: CBI Shorts

I've asked the question a couple times on a couple threads; why did Ted bail on CBI?

Nuclear Energy

Thu Nov 19

NL

Boards Post

rclosch posted to the Berkshire Hathaway board. 9:10 PM

CBI Shorts

CBI is a good company selling at about 8 times earnings in a market where the S&P sells at better than twice that valuation. CBI is a leader in its industry, and with special expertise in the construction of large complex petrochemical [more]

Thu Nov 5

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Boards Post

rclosch posted to the Berkshire Hathaway board. 10:56 AM

OT; Myopic Loss Aversion

This rather obscure term is meant to describe the psychological result of too carefully following your investments. The investor’s goal should be to buy low and sell high. Myopic loss aversion causes us to do the opposite.

While close [more]

Tue Aug 25

NL

Boards Post

rclosch posted to the Berkshire Hathaway board. 3:55 PM

OT: CBI and Nuclear Energy

This is text only if you want to see pictures and charts use the link below.

http://www.loschmanagement.com/content/cbi-and-nuclear-energ...


At first [more]

CAPS Stats & Trivia

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Score Change Today -1.67
Accuracy 0.00%
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Total Picks 10
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Average Score per Pick 9.91
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Boards Stats & Trivia

Big red star, 1000 posts Old School Fool
Board Posts 1178
Recs Received 14992
People who have rec'd these posts 1785
Recs to Posts Ratio (last 30 days) N/A
Threads Started 512
Threads Started Percentage 43.46 %
Most Frequent Board Berkshire Hathaway
Very First Post Re: 4% Annual Return (11/8/1999)
Percentage of Posts Rec'd 81.92 %
Show rclosch’s 10 Latest Posts