Category archives for: Investing

Joy Global: A Misunderstood Cyclical?

Joy Global is a leading manufacturer of underground and surface mining equipment used in the extraction of coal and other minerals. The company manufactures essential and highly specialized products such as continuous miners, longwall shearers, and roof supports critical for safety in modern mines. Read this article for more details.

Investors Title Company Approaches Intrinsic Value

In this article, we revisit the investment thesis for Investors Title Company which was first profiled on The Rational Walk in November 2010 with an update provided in March 2011.

Complimentary Berkshire Hathaway Analysis Available Now!

The Rational Walk is pleased to make our report on Berkshire Hathaway published in February 2010 available to readers free of charge! The analysis was published shortly after the release of Berkshire Hathaway’s 2009 annual report. Although the analysis is over a year old, the historical background and valuation approach may be useful for readers.

Middleburg Financial: The Foundation of Sokol’s “Mini Berkshire”?

Middleburg Financial, a small bank holding company with a base of operations in the prosperous suburbs of Northern Virginia, has been in the news over the past few days due to David Sokol’s comments on CNBC indicating that he plans to build a “mini-Berkshire” after resigning from Berkshire Hathaway in the wake of revelations regarding his trading in shares of Lubrizol Corporation. Read this article for our opinion on whether Mr. Sokol will use Middleburg Financial as the base for his future business activities.

Berkshire’s Investment Write-Downs: “Gotcha Moment” or Difference of Opinion?

It should come as no surprise to careful readers of Berkshire Hathaway’s financial statements that the company recorded an “other-than-temporary impairment loss” of $938 million in the fourth quarter of 2010 related to declines in the market value of certain equity securities. However, recent media reports seem to treat recent revelations of correspondence between Berkshire and the SEC as a “gotcha moment”. We take a look at this question in this article.

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