Horizon Kinetics Q4 2012 Commentary

By
A A A

I thought this was one very enjoyable read. They touch on a concept that I've always considered important but never been able to put into words as effectively as Horizon has in this commentary.

That concept is that if you trust the judgement of a management team with a long-term record of compounding at high rates, then maybe the best way to value their specific company is to watch how they are allocating capital (what they are doing with their own capital structure).

Horizon Kinetics - Q4 2012 by[url=undefined][/url]



Read More:


About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing

Referenced Stocks: QQQ , SPY

GuruFocus

GuruFocus

More from GuruFocus:

Related Videos

Stocks

Referenced

Most Active by Volume

91,252,153
  • $13.78 ▼ 4.31%
68,133,496
  • $12.93 ▲ 6.77%
57,268,074
  • $46.13 ▲ 2.47%
43,432,023
  • $105.22 ▲ 0.37%
40,880,685
  • $13.46 ▲ 8.90%
40,712,405
  • $98.62 ▲ 0.82%
39,776,976
  • $16.72 ▲ 0.72%
34,688,871
  • $11.16 ▲ 3.05%
As of 10/24/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com