+ 70%
Gecko Folio
Warren Buffett:
1 Oath
1 Option
Mutual Funds
???
Moat?
Cheap?
Margin 5 0 B
Ne t w o r t h $
of Safety?
Gecko Folio ‘09
A high-yield fund for income investors.
Tarpon Folio ‘09
A long-term growth fund.
Biggest 1st Year Gainers
200% 194%
126%
81%
80% 67%
40%
0%
ACL BLKB CCOI DISCA GOOG IGT JBT KMX PZN TGT
Top 5 Holdings Today
Contango Oil & Gas
Paychex
Berkshire Hathaway
Lowe’s Companies
Atwood Oceanics
Heat Map: Tarpon
Degree of Undervaluation
1.00
0.80
0.60
0.40
0.20
0.00
Entire Core Midterm Opportunistic
Portfolio Holdings Holdings Holdings
Peter Lynch:
“If you spend 13 minutes per year
trying to predict the economy, you
have wasted 10 minutes.”
3 Minutes:
- 3.5% to 4.0% growth in ‘10
- 3.0% inflation
- Unemployment will peak in Q1
- Jobful (vs jobless) recovery
- S&P near 1,400 in four years*?*
The Big Variable in ’10
DC vs Manhattan
Bottom Line
“You need to worry about where the
company and the stock will be in three to
five years. If you can buy something today
with little chance of permanent
impairment and a high likelihood that you'll
double your money over the next five
years, you should go ahead and do it.”
- Seth Klarman