Geoff Gannon May 31, 2006

Recent Highlights from Fat Pitch News

Fat Pitch News continues to provide worthwhile value investing links. George recently created a Feed Flare that lets webmasters include a link to bid up their stories on Fat Pitch News. You can read about the flare here.

I’ve added it to all of my blog posts at the bottom of the permalink page. So, if you click on the word “permalink” at the bottom of any of my posts, you’ll be able to bid up the story on Fat Pitch News by clicking a link at the bottom of the post.

Here are some of my personal favorites over at Fat Pitch News (to read the complete story, click the blue URL just below the green banner):

The 38 Stocks in the Buffett Portfolio: A comprehensive list that includes some very old positions that have not been sold. You may have forgotten about a few of the smaller names. Analysis on Money Central: You’ve read my take on (OSTK), now read someone else’s.

<strongHome Depot Holders Tear into CEO Pay: This story has been widely reported elsewhere, but the behavior of the board and management is appalling enough to warrant reading about it again.</strong

Tribune Good News: Media conglomerate Tribune (TRB) announced a $2 billion stock buyback as well as plans to sell at least $500 million in non-core assets. Ratings agencies drastically cut the company’s credit rating, because of the added risk from the leveraged buyback. However, Tribune’s debt currently remains investment grade.

Claire’s Stores at Value Discipline: Rick looks at Claire’s Stores (CLE). It’s an interesting business. The stores sell cheap accessories to young girls. That’s not the kind of business where competitive pricing is a big concern.

International Speedway at A post discussing an often overlooked wide-moat company, track operator International Speedway (ISCA).

Sleeping With an Elephant – Emerging Markets – How Diversified Are You?: Rick of Value Discipline discusses the possibility that simply picking a superficially diverse group of international securities may not insulate you against problems in the U.S.

Brunswick – Bargain Basement Boating?: Value Discipline profiles Brunswick (BC), a big player in boating and marine related recreation. The company also manufactures other (non-marine) recreational products and operates bowling alleys.

Funeral Pallor: What’s wrong with the funeral business? Burials are exactly the kind of highly fragmented, slow growth industry that should be highly profitable for the consolidators. Lately, that hasn’t been the case.

Coke Trying to Stay Fresh: You may have seen this story elsewhere. Coca-Cola (KO) is developing new specialty drink recipes by using restaurants as a test lab. The plan seems to be to increase the use of Coke in restaurants. I doubt it’ll lead to big results relative to Coke’s total sales, but it makes more sense than many of the marketing pushes for mature beverage brands.

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