Boyar Blog


John Heins who, along with money manager Whitney Tilson, publishes Value Investor Insight contributed two articles to this edition of The World According to Boyar. Value Investor Insight is a terrific publication which primarily focuses on interviewing value oriented money managers to discuss their investment philosophies, processes and some of their current high conviction equity […]

Energizer

Date: May 06, 2014

Throughout the years we have been quite successful in identifying and investing in companies that have great consumer franchises, particularly after they have temporarily lost their way and their shares have declined precipitously. The obvious suspects such as Disney, McDonalds and Home Depot, among others, all appeared in Asset Analysis Focus, after they fell from […]

The Coffee Can Approach

Date: May 06, 2014

Chris Mayer, a friend of our firm who authors a well regarded publication titled Capital & Crisis, was kind enough to contribute an article for this edition of The World According to Boyar. His article touches on a theme we discussed in our latest quarterly letter: How investors can be their own worst enemies by focusing on short-term performance and selling stocks too early. This behavior is in part aided and abetted by the short-term focus of financial news outlets (with notable exceptions) and their desire to sensationalize stories to drive ratings and/or sell newspapers. This “noise” puts pressure on investors to take action each time a company they own temporarily stumbles or when there is geopolitical uncertainty that causes a near-term correction. In the vast majority of cases, however, the best course of action would be for an investor to stay the course. In this article, Mayer maintains that investors should focus on finding great investments and buy them with the intention of holding them for the long-term. He discusses a strategy called the “coffee can portfolio” advanced by long-time money manager Robert Kirby as a way investors could avoid the temptation to act. Click here to read Chris’s article.

Boyar’s European Focus

Date: April 24, 2014

Boyar’s Intrinsic Value Research has always covered a diverse range of U.S.-based companies, from small capitalization stocks such as Callaway Golf to large capitalization names such as Bank of America and Microsoft. We will continue to do this through our flagship publication Asset Analysis Focus.

We have always been attracted to businesses that have significant barriers to entry and own “trophy” properties. In October our institutional research publication Asset Analysis Focus published an extensive report on Whistler Blackcomb which in our opinion meets the two above-mentioned criteria.