An Unofficial Tracking Blog of World Famous Financial Gurus.
This blog tracks famous financial gurus' market commentary, investment ideas, video interviews and media appearances.
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23:10
This simplified tax system would also eliminate more than 90% of the IRS’s more than 100,000 employees who have the power to arbitrarily harass people and small business owners ad infinitum, since most of these agents themselves do not have a full understanding of all the tax laws and regulations. (According to an IRS report entitled “Workforce of Tomorrow Task Force: Final Report August, 2009”, the IRS has 88,203 full-time employees, but this number would have increased significantly since then.)
The complexity of the tax system led the recently deceased British economist Barry Bracewell- Milnes, who was a champion of lower taxation (he argued for the abolition of the inheritance tax), to exclaim: “An economy breathes through its tax loopholes.”
13:36
Speculation that Campbell Soup may be Warren Buffett's next acquisition target is swirling around the financial media. Many observers believe that Berkshire Hathaway's joint acquisition of Heinz could lead to the acquisition of other branded food companies -- and there are many reasons why it could be Campbell Soup.
Campbell Soup has the consistency and durability of PepsiCoEveryone knows that PepsiCo is a great business, but few put Campbell Soup in the same league as the world's leading snacks company.
However, the evidence suggests just that. Campbell Soup may not have the global reach and worldwide name recognition that makes PepsiCo one of the world's most respected companies, but its financial performance suggests that there are many similarities between the two companies.
The following chart -- PepsiCo and Campbell Soup's operating margin for the last two decades -- illustrates the similarities.
Source: Mergent Online, author's calculation of adjusted operating margin (excludes one-time items)
The similarity between the two companies' operating margins through the years is striking. Both generate a remarkably stable operating profit from year to year and profitability has trended upward over the long term.
Source @ dailyfinance.com
00:45
Why is everybody making such a fuss about the latest Warren Buffett wind power purchase? Okay, so the legendary investor’s MidAmerican Energy Company has just ordered a huge mess of wind turbines from Siemens, but it was all the way back in May that MidAmerican announced a new $1.9 billion investment in Iowa wind farms, adding up to 656 new turbines to the 1,267 it already has churning out renewable energy in that state.
What’s really big news, at least to us, is comparing Iowa’s booming wind industry (including 100% wind for a new Facebook data center) to the situation in Wisconsin, where Republican lawmakers are still throwing one monkey wrench after another into that state’s struggling wind industry.
However, we digress. The new order is still big news for Siemens, which thanks to Buffett gets to win the week in wind power news with bragging rights to receiving the world’s largest ever single order for onshore wind turbines: 448 of its SWT-2.3-108 models with a combined capacity of 1,050 megawatts.
Souce @ cleantechnica
