Delphi Value Investments Blog: 2018

Tuesday, October 9, 2018

Liberty Latin America (LILAK) Interview

I was recently interviewed about one of our holdings Liberty Latin America. Liberty delivers broadband Internet, cable, mobile, and home phone services to a variety of Latin American countries.

We also do a good dive on the broadband Internet business.

https://itunes.apple.com/us/podcast/35-liberty-latin-america/id1205082419?i=1000421186116&mt=2

Disclosure: Long Liberty Latin America (LILAK)

Tuesday, September 18, 2018

Liberty Braves-BATRK

Last week I spoke to the Intelligent Investing podcast where I talked about Liberty Braves. Liberty Braves is a John Malone controlled entity that owns the Atlanta Braves MLB team and The Battery entertainment area near the Braves new stadium, Sun Trust Park.

https://itunes.apple.com/us/podcast/the-intelligent-investing-podcast/id1205082419?mt=2

https://www.stitcher.com/podcast/the-intelligent-investing-podcast

Disclosure: We previously owned Liberty Braves but we sold it this year when I found new opportunities.

Wednesday, January 17, 2018

Interview-Liberty SiriusXM

I recently was interviewed by Eric Schleien on the Intelligent Investing Podcast about one of the positions we own Liberty SiriusXM. LSXMK is one of our bigger positions and is part of the John Malone complex.

Hope you enjoy the interview!

https://itunes.apple.com/us/podcast/the-intelligent-investing-podcast/id1205082419?mt=2#episodeGuid=intelligentinvesting.podbean.com%2Fliberty-siriusxm-group-anthony-morley-24b00f90dd1700f333f1ee8f1a4eedd1

What to expect:

This blog is a place to talk about things we think are relevant and interesting in the investing world. At no time are we making any recommendations about buying or selling a security (Stock, bonds, options, etc.).

Our posts may concern trends, popular news stories, investment ideas, and a little bit of education on the investing process. We will try to post something once a month. While this will be an investing blog, it is likely that we venture off into other random topics! We will also use a conversational tone in our pieces so you can expect things that break traditional grammar rules. We aren't trying to pass English 101 again.

We follow a value investing approach because it is the only type of investing that we think is intelligent over the long-term. If we like and understand a business, and it appears to be selling for much less than it is worth, we will probably buy it.

This blog will not look like most of your typical Wall Street Analyst reports or articles. We try to stay as far away from that as we can.

You will see us talk about Owner Earnings (OE) quite often. Owner Earnings is the figure that we use for profits. It is a metric that is not widely used in the financial community, but we believe is the figure that shows the most accurate picture of a business’s profits. Warren Buffett explains Owner Earnings in the 1986 Berkshire Hathaway Chairman’s Letter. Explained simply, it is the cash that the business generates (Cash from Operations) minus the capital expenditures that must be spent to maintain the businesses competitive position (Maintenance CAPEX). The second part can oftentimes be hard to figure out, but we would rather be vaguely right than precisely wrong, which could happen if we just used Net Income.

We will give full disclosure at all times.

All errors (there will be some) are the authors.

Enjoy!

This blog does not make any investment recommendations. Do your own research! An article or blog post cannot possibly contain all the information needed to make an investment decision.

www.delphivalueinvestments.com

anthony@delphivalueinvestments.com