One of Patrumin's current holdings, EMC, is evidently exploring the sale of the company or a merger. We obviously think there is tremendous long term value in EMC shares and the company's assets. News reports suggest discussions were with HP and possibly Dell. This is quite disappointing to me as these companies, to me,...more
We believe free cash flow analysis is the best way to understand a company's economic situation and proposition as a potential investment. Accounting earnings (GAAP earnings) can be manipulated through accounting conventions, methods, estimates and so on. We prefer to study and understand how a company's cash is sourced, allocated, expended and recaptured. We also...more
Maintaining investment diversification is critical to long-term investing success. Diversification is a word with three "I"s, so it is easy for us here at Patrumin to remember how we look at diversification when we construct portfolios. They are:more
- It should have sector diversification--exposure to multiple sectors and industries in the economy
- It should have capital structure diversification--exposure...
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