No. of Recommendations: 8
I've signed up to attend the Markel breakfast. I'm planning to sit at the back of the room and try to learn from fellow attendees. What I most want to learn is of other companies around the world with a Markel/Berkshire type investment compounding management mindset. I deliberately used the the four words together: "investment compounding management mindset". My Value Line subscription and Financial Times Reuters database subscriptions have been getting a workout as I search for companies having those characteristics. I wish there were a Value Line equivalent service for European companies (suggestions anyone?) as the overall market valuations are lower than USA valuations.
I've been investing since age 11 (money earned working on farms and paper route)and, in my opinion, the number of companies with an investment compounding management mindset are relatively scarce here in 2023, at least in the USA they are. Yes, there are growth companies reinvesting income at above average ROE numbers. A future Costco would be awesome. However, I'm finding most of those situations are too expensive for my tastes. On top of that, many are positioned a bit too close to the hypothetical regression to the mean line when looking at available market space, age of company, management pay, share dilution and so forth.
The search goes on. Maybe I'll get some names not yet considered at the rear of the room to add to my research pile.
Regarding asking Markel management about being taken out by Berkshire, I'll let someone younger and better looking than me pose the question. Tom Gaynor would may a great Chief Investment Officer with his fellow Virginian, Ted Wechler being a teammate. Joe Brandon of Allegheny could head up the insurance group within Berkshire. Mr. Abel would be the CEO. All this kind of makes sense going forward as Warren puts the final touches on his firm and his legacy.
Uwharrie
