“this company needs to continue generating cash, paying down debt, and retiring stock for many years for this one to work well. It probably will but it won't be exciting. Kind of like DVA.”

Well put. It took time for DVA to get traction. They have been very disciplined since they sold the health care unit. Blocking and tackling, sticking to their knitting. Covid was a huge speed bump, but now they seem to be doing well.

I like re-engineering the Ted and Todd buys, what are they seeing? Why is this a good buy?

After studying the DVA example, SIRI becomes clearer. If you remember, Ted did very well with DDS (Dillards), similar as well, huge buyback. DDS is not some exemplary retailer either.

When you look at the VRSN financials, it is somewhat similar to V, mostly all free cash, very little capex, and buybacks.

Some will say, that one shouldn’t coat-tail. I agree, one shouldn’t buy just because someone else is buying it. If you are following disciplined, long term buyers, it can be a great learning experience.

Berkshire Hathaway FAQ

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