Key points from Robert Hagstrom, author of The Warren Buffett Way:
- Market is discounting zero growth going forward on Microsoft (MSFT).
- Growth will be slow relative to its past, but it is growing and thus undervalued.
- Expects good news on new products out of Microsoft this year.
- Low downside risk on Microsoft, which makes it especially attractive.
- Fifth largest holding for Microsoft.
- Doesn’t own any banks, he thinks they are undervalued though and should be trading at book value.
- His concern with banking sector is growth going forward.
H/T: Canadian Value
ADW Capital’s 2020 letter: Long CDON, the future Amazon of the Nordics
ADW Capital Partners was up 119.2% for 2020, compared to a 13.77% gain for the S&P 500, an 11.17% increase for the Russell 2000, and an 8.62% return for the Russell 2000 Value Index. The fund reports an annualized return of 24.63% since its inception in 2005. Q4 2020 hedge fund letters, conferences and more Read More