In this video William Ackman and David Einhorn will talk about investing. William says that in his first years, his company made no money from short selling, but that last year 100% from their profits came from short selling. Now, they talk about marking to market. Ackman thinks that Goldman is the best example for this because they have a risk management, and this comes from the fact they have in a very disciplined way marked the market. If someone says to sell 10% of your stock, then that is your mark. You need to give a range to that mark.
Warren Buffett thinks that Pepsi is a wonderful company, but he has the old idea that he needs three dollars to drink a Coca Cola with them, and this is how he does day by day. In the past, he started to drink Pepsi when he was six or seven years, but then Pepsi gave you twelve ounces for a nickel, and Coca Cola gave you six and a half ounces, so Pepsi was a good buy at that time. The host of the show thinks that Pepsi is good at any price, and she hopes that one day Warren Buffett will come and say that he love Pepsi products.
In this video Paul Sonkin talks about his area of investing. In this area of investing, it is an inefficient market. He is dealing with companies that are under one billion dollars in capitalization. There are companies that are modestly followed by Wall Street, some are barely followed followed by Wall Street, and there are companies that are known only by Paul Sonkin. This is a part of value investing, you really have to know what are you doing. There are some really companies in what you can invest in: Stein Why makes pianos, it is a macro cap company.
In this video we can listen Mohnish Pabrai, who paid $650k for a lunch with Warren Buffett. He says that he spent the money because he just wanted to thank Warren, because he used for almost fifteen years Warren Buffett's approach, his intellect, for investing. So he feels that he needs to thank him in person somehow for these things. Another best thing about Warren has nothing to do with investing, but it has anything to do with living a great life. Mohnish Pabrai got rich by following Warren's tips. The money was to support his charity, in which Buffett strongly believes.
Michael Price is invited to a radio interview, he is asked how is he going to turn to see the group of banking shares he gets and how Citigroup will survive. He says that Citigroup is going to survive because the Government is going to walk through this period. Seventy billion dollars of new capital will come into the balance. The company takes the first forty billion losses and after that they only take ten percent of the losses. After that he talks about Citigroup, there are units that run very well, but also there are units that will be sold.
David Dreman in invited on CNBC for an interview. The host asks David about the world stocks and if he could turn back in time, if he went into stocks and real estate specifically. He thinks so, if he would have had one trillion dollars, he would probably get into it. It's a good moment for stocks and for real estate as well. The market inflation meets the market hyper inflation. The FED are saying that they have an exit strategy. The FED has to wait until employment starts to come down, probably next year, so David can't see how they could have an exit strategy at this moment.
Earning in oil, a topic firing up investors in recent days in New York. What does it do for earnings and forecast, at this questions is going to give an answer David Dreman. He has been dealing with the markets ups and downs for just about fourteen years. He is being asked by the host what makes the stock compatible. He thinks that the supply demand in in his favor this year, even if the prices are moving higher.