The Interview Discusses:  The rise and fall of GE. What could have been done to save General Electric. Who is to blame for GE’s demise. His in-depth interviews with both Jack Welch and Jeff Immelt. The fundamental error that Jack Welch made that tarnished his legacy. How GE capital almost filed for bankruptcy during the financial crisis. What Disney can learn from GE’s succession issues. The mistake GE made by selling NBC Universal to Comcast (and one thing about the deal you probably  never knew). His latest media venture called Puck. And much more…

The Interview Discusses:  How he turned around Callaway’s traditional business. How “off course” golf is now larger than “on course” golf. How Topgolf is increasing participation in traditional golf. The economics behind a Topgolf location and why scale matters. Why he does not believe a rising interest rate environment will impact the expansion of TopGolf. How he had the confidence to “bet the company” and purchase Topgolf in 2020 (during the throes of Covid). The significant opportunity they have with Toptracer. His thoughts on the current valuation of Topgolf Callaway Brands.

    Most investors would just as soon forget 2022. With many global indices set to end the year deeply in in the red, “safe” fixed-income investments proving not to be so safe after all, and many former pandemic highflyers decreasing by 70% or more, investors have endured a year of carnage. Except for energy […]

Our optimism about value shares reflects the continued valuation discrepancy between growth and value stocks. During 2022, value stocks outperformed growth stocks for the first time in 6 years (as measured by the S&P 500’s performance relative to the S&P 1500 Value), and we believe that continued outperformance is likely. Although the valuation gap between value and growth stocks did narrow during 2022, value stocks remain significantly cheaper than growth stocks.

  The Interview Discusses:  The secret to success in the investment business. His investment thesis on both Home Depot & Diageo. Why investing through the covid crisis was harder than investing through the financial crisis. How covid has impacted Markel’s insurance operations. His thoughts on Berkshire Hathaway investing in Markel. His observations of Warren Buffett […]