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Joshua Wilson

Exquisite Business Accounting Service - 1 views

started by Joshua Wilson on 06 Dec 12 no follow-up yet
Joshua Wilson

Fast and Accurate Payroll Services - 1 views

I am happy and satisfied working with Reliable Payroll Services since they are able to help me do all the accounting for my business. Their payroll service is really superb as they make sure that t...

started by Joshua Wilson on 08 Nov 12 no follow-up yet
Justin Pierce

The Most Excellent Bookkeeping Services - 1 views

When I was still single, I had all the time to manage my gift shop. But when I got married a year ago, I found it really hard to give equal attention to my business as well as to my roles as a wife...

started by Justin Pierce on 27 Sep 12 no follow-up yet
Emenac Incorporated

Why Have a Virtual Receptionist? - 0 views

blog.emenac.com/hy-have-a-virtual-receptionist

call center BPO Outsourcing receptionist Live chat services offshore Business outsource Virtual assistant Answering IVR system Technical support

shared by Emenac Incorporated on 20 Nov 12 - No Cached
  • Emenac Incorporated on 20 Nov 12
     
    Business owners take all possible steps to ensure customer satisfaction. One of the most successful and recommended strategies in this regard is to begin with a virtual receptionist service. This service brings in extra representatives for a business and eases the lives of the customers. When the customers have questions or queries to be answered or any problems to be solved, they try to reach the authoritative body telephonically and it is not uncommon for them for not having to been able to do so. This is where the need for virtual receptionists comes in. Virtual receptionists are basically persons who work for the customer support but do not work from the office or any specified location.
Justin Pierce

Enjoy An Excellent Bookkeeping Service - 1 views

It is a small grocery with just 4 staff that I started 6 months ago. I thought I can smoothly run it on my own. But then I noticed that I always encounter troubles in doing the payroll and other mo...

started by Justin Pierce on 28 Dec 12 no follow-up yet
Joshua Wilson

Highly Trusted Payroll Experts - 1 views

started by Joshua Wilson on 07 Jan 13 no follow-up yet
Justin Pierce

The Best Bookkeeping Service - 2 views

My 70 year old mom who is managing her small business used to complain about her burdens when it comes to her financial records. There were even times when she forgot to take her meals due to he...

started by Justin Pierce on 23 Jan 13 no follow-up yet
Charmaine Hoxton

Enjoying Quality Salon Services - 1 views

Just like any typical lady, I always want to look my best. This is especially true with my hair as this is considered a woman's crowning glory. When I moved to another city last year, I had a diffi...

started by Charmaine Hoxton on 26 Sep 13 no follow-up yet
Justin Lincoln

Professional Window Cleaning Company - 1 views

I need to make sure that my windows are cleaned regularly and that is the reason why I hire City Clean service. Their professional cleaners in Adelaide are able to maintain the cleanliness of our r...

started by Justin Lincoln on 08 Dec 12 no follow-up yet
Justin Winsord

Taking Care Of My New Car - 1 views

I bought my first car a year ago and because it is very precious to me, I really take good care of it. I make it sure that it is always safe and that it will always look good. It is for this reason...

started by Justin Winsord on 11 Nov 13 no follow-up yet
Private Banking

Bankers' Network - 0 views

privatebanking.com/network

Bankers network Private banking Wealth management privatebanking.com hedge fund

shared by Private Banking on 28 Oct 08 - Cached
  • Private Banking on 28 Oct 08
     
    The Bankers' Network is an online community that caters to the needs of high net worth individuals, bankers and financial service professionals. The aim of the platform is to foster business development, career building and opportunities in all areas related to the global wealth management industry.
Nicole Smith

The Best Mortgage Company in Adelaide - 2 views

I am so thankful with ACQUIRED HOME LOANS. They helped me get the dream house I always wanted to have. They helped me acquire a home loan that suited my needs. Their expert mortgage consultants wer...

mortgage adelaide

started by Nicole Smith on 03 Oct 11 no follow-up yet
Emily Winter

Affordable and Durable Retaining Wall - 1 views

We recently changed our old retaining wall with Retaining Wall Industries' mass block and it was great. Retaining Wall Industries worked tirelessly to construct the walls ensuring that our backyard...

started by Emily Winter on 05 Dec 12 no follow-up yet
micheal knight

Affordable Quality Used Cars - 2 views

I had a difficult time looking for quality used cars in Adelaide. Good thing that my friend told me about SA Cars. And I was so happy to get the chance to buy a highly functional car at a very affo...

started by micheal knight on 08 Dec 12 no follow-up yet
micheal knight

Sincere And Dedicated Used Car Dealers - 1 views

Since a car is a necessity in my day to day life, I decided to buy one with the tight budget that I had. But my problem was that, I am not really good at evaluating a car and I really needed help a...

started by micheal knight on 17 Sep 12 no follow-up yet
Nicole Smith

An Exciting Time for My Wife and I - 3 views

My wife and I were really excited buying our first home. However, with so many loan products in the market today, choosing the most suitable one for our requirement is quite a challenge. Thanks to ...

started by Nicole Smith on 02 Dec 11 no follow-up yet
Nicole Smith

Great Mortgage Brokers I Have Dealt With - 1 views

I love working with these guys. They are polite, knowledgeable and they really show genuine care. They are not just about getting anything or what, but these mortgage brokers will explain everythin...

home loan adelaide

started by Nicole Smith on 29 Dec 11 no follow-up yet
Nicole Smith

Great Mortgage Brokers I Have Dealt With - 0 views

I love working with these guys. They are polite, knowledgeable and they really show genuine care. They are not just about getting anything or what, but these mortgage brokers will explain everythin...

home loan adelaide

started by Nicole Smith on 29 Dec 11 no follow-up yet
Elaine Yi

brkmtg05notes.pdf (application/pdf 对象) - 0 views

www.tilsonfunds.com/brkmtg05notes.pdf

berkshire_hathaway

shared by Elaine Yi on 29 Jun 07 - No Cached
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      The successor to me will come from Berkshire, knows our system, has seen that it works, and will be surrounded by people who believe in it.
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      We're successful because of simplicity itself: We let people who play the game very well keep doing it. We've Picked Great Managers By Only Picking Proven Winners It would be tough to evaluate a class of MBAs and pick which ones would prove to be the best managers, just like it would be tough to pick the best golfer by watching them hit on the practice range. We haven't tried to evaluate, before they have a record, who will be superstar managers. Instead, we find people who've batted .350 for 10-50 years. We just assume we won't screw it up by hiring them. We take people who play the game very well and allow them to play.
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      Munger: Part of it is intelligence, partly temperament. Rick Guerin, for example, wanted to be rich, he was smart and had the right approach [so I knew he would be very successful].
  • ...31 more annotations...
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      We won't sell a business just because it's underperforming.
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      The competition right now is tough, so our efforts to buy businesses are likely to be futile. But there are 1-2 deals we might get done…
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      Berkshire doesn't do much conventional asset allocation. We just search for good opportunities and don't want to put up artificial barriers.
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      Our test has been whether, if we retain a dollar, will it be worth more than a dollar in present value.
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      I'm also careful not to communicate anything to the contrary via body language.
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      Insurance companies in particular can report pretty much any numbers that they want. With $44 billion of reserves, it would be easy to adjust the reserves to show whatever profit was desired.
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      Munger: What we don't like in modern capitalism is the expectations game. It's not the kissing cousin of evil; it's the blood brother.
    • Elaine Yi
      Elaine Yi on 29 Jun 07
       
      Munger: What we don't like in modern capitalism is the expectations game. It's not the kissing cousin of evil; it's the blood brother. Buffett: People who predict precisely are either kidding themselves or others. We've seen people get their egos involved. And everyone in the organization knows what the CEO has promised in public. It's setting up a system that sets up financial or psychological pressure for people to do things they probably don't want to do. It's a terrible mistake.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      I think about this a lot - it's my job to think about the absolute worst-case scenario. No matter what happens, we'll be OK. But everything that can happen will happen.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      GEICO is a great, great business model, run by a superb person and businessman
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      This is a good life lesson: getting the right people into your system is the most important thing you can do.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      The Chinese government owns 90% and we own 1.3%, so if we vote with them, together we control the business. (Laughter)
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Use Bill Gates to Invest in Tech Stocks? Charlie and I put money in things we understand and think we'll know what it'll look like in 5, 10 or 20 years. Bill being on the board doesn't change this. I'll listen to any idea of his and, in fact, our investment ideas overlap quite a bit. I still wish I'd bought Microsoft when I'd first met him. (Laughter)
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Comments on Financial Companies Financial companies are more difficult to analyze than other companies. They can report whatever earnings they want - it's an easy game to play. For banks, earnings depend on loans and the reserves set aside. It's easy to change and manipulate the reserves.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Comments on Financial Companies Financial companies are more difficult to analyze than other companies. They can report whatever earnings they want - it's an easy game to play. For banks, earnings depend on loans and the reserves set aside. It's easy to change and manipulate the reserves. With a company like WD-40 or a brick company, the financials are easy to analyze. But with financial [companies] it's tough, especially when you throw in derivatives.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      I'm concerned about our political leadership, but as Peter Lynch once said, "Invest in businesses any idiot could run because someday one will." (Laughter) We've had all sorts of bad Presidents, but have still done well. Our real GDP per capital rose seven-fold in the last century, which is remarkable. Sure, the big consumer debt load and trade deficit could cause some financial market distress - there are great investment opportunities in dislocations - but the country will survive. Eventually the country will do fine, but there's a significant possibility of a chaotic situation.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      I knew a guy who had $5 million and owned his house free and clear. But he wanted to make a bit more money to support his spending, so at the peak of the internet bubble he was selling puts on internet stocks. He lost all of his money and his house and now works in a restaurant. It's not a smart thing for the country to legalize gambling [in the stock market] and make it very accessible. Buffett: Is there anyone we've forgotten to offend? We don't want to miss anyone. (Laughter)
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Buffett: We're like an incredibly rich family. We sit on the porch of our huge farm - so big that we can't even see the end of it - and each year, we consume 6% more than the farm produces. To pay for this, each year we sell or mortgage a little bit of the farm that we can't see, so we don't even notice. We're very, very rich and the rest of the world is happy to buy from us or lend to us, so each year they take a piece of our valuable assets - and they work very hard. But we will have to service this. If it goes on for a long time, our children will pay. We're sending $2 billion per day [overseas right now].
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Invest in Yourself It's hard for individual investors to successfully pick stocks or time the market. The best investment you can make is in your own abilities. Anything you can do to develop your own abilities or business is likely to be more productive than investing in foreign currencies. If you own your own business in America [and you run it well, you'll do OK].
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Avoiding Mental Mistakes The first step is to recognize the traps. Charlie, in Poor Charlie's Almanack, talks about various traps, so read that book. Our personalities are such that we're probably less prone to falling into these traps, but it still happens - just less than before. Munger: You don't have to have perfect wisdom to get very rich - just a bit better than average over a long period of time. -15- Buffett: It reminds me of the story about the two guys being chased by the bear and one guy says to the other, "I don't have to outrun the bear. I just have to outrun you!" (Laughter)
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Poor Charlie's Almanack Munger: Peter Kaufman did it. He came up with the idea and Warren got excited about it. It's a ridiculous name [the title]. (Laughter) If you assimilate everything that's in that simple book, you'll be far ahead in the game. Buffett: It's a sensational book. You'll learn a whole lot about life - and making money.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Learning to be a Good Investor When I was seven years old, I first took an interest in stocks. My dad was in the business, so I'd go with him to the office and I saw interesting things. [When I was a little older,] I went to the library and read every book on markets and investing. When I was 11, I bought my first stock - three shares. I was following charts. When I was 19, I read The Intelligent Investor and it changed my whole framework. My advice is to read a lot. There are no secrets in the business that only the priesthood knows. It's all right there. It requires qualities of temperament way more than qualities of intellect. Once you have a 125 IQ, much more doesn't matter. Look for opportunities that fit your framework. Try to learn every day, but you can't act every day. It's important to enjoy the game, just as it is to enjoy bridge or baseball [if you're going to play those games seriously].
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      We like buying businesses with some untapped pricing power. For example, when we bought See's for $25 million, I asked myself, "If we raised prices by 10 cents per pound, would sales fall off a cliff?" The answer was obviously no. You can determine the strength of a business over time by the amount of agony they go through in raising prices.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      You can learn a lot about the durable economics of a business by watching price behavior. The beer industry is able to raise prices, but it's getting tougher.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Market Views Regardless of the market, I will keep buying businesses. We like low prices. We're not good at forecasting markets. Charlie and I spend no time thinking about where the market's going. We do know when we're getting good value [when we're buying a stock or business]. There are always going to be some good and bad things happening. I've seen more people lose more money by getting focused too much on one factor. We've never not bought something due to macroeconomic concerns.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      The Best Business The best businesses can maintain their earnings without continued reinvestment, whereas in the worst you have to keep pouring money into a money-losing business. The best business is being the best surgeon in town. You don't have to do any reinvestment - the investment was the education. The surgeon will retain his earnings power, regardless of inflation.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      More on the Housing Bubble (and Why Foreigners Invest in the U.S.) The financing terms have become easier and easier as prices have risen, which is contrary to normal [and prudent] practices. But the financing process has become so disintermediated that the mortgage buyer doesn't care. The easier financing has led to a boom in prices. The Nebraska farm bubble was fueled by banks that historically had been conservative but went crazy. They said that a farm was an asset-appreciation investment, not an income investment - in other words, they were playing the greater fool game.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Buffett: I have less than 1% of my net worth outside Berkshire and when the Nasdaq hit its high, I had nearly all of it in REITs, which were selling at a discount to their liquidation values. REITs are quite attractive now, especially compared with 5-6 years ago when they were very unpopular. It's better to pay attention to something being scorned than championed. Munger: And REIT accounting is phony. Buffett: Other than that, we love REITs. (Laughter)
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      [GM CEO] Rick Waggoner and [Ford Chairman] Bill Ford have both been handed, by past managers, extremely difficult hands to play. They're not the consequences of their own doing, but they have inherited a legacy cost structure, with contracts put in place decades ago, that make it very difficult for them to be competitive in today's world.
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Munger: Warren just gave a very optimistic prognosis in my view. Just because the full consequences haven't yet hit, doesn't mean there isn't a huge problem. It's as if someone jumped out of a window on the 42nd floor. As you go by the 20th floor, you're still OK, but that doesn't mean you don't have a real problem. (Laughter)
    • Elaine Yi
      Elaine Yi on 30 Jun 07
       
      Munger: We just throw some decisions into the "too hard" file and go onto others. Buffett: We get paid not for jumping over 7-foot bars but for finding 1-foot bars that we can step over.
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