We're still only a couple hours into the�Berkshire Hathaway� (NYSE: BRK-A ) (NYSE: BRK-B ) annual meeting, but there's a significant theme already surfacing in Warren Buffett's comments. In a word: size.
And yes, to quell your curiosity, Buffett did, in fact, say that size does matter.
Jokes aside, Doug Kass, the big, bad Berkshire bear, challenged Buffett and Charlie Munger on whether Berkshire's size would impede future returns. The easy answer is, of course -- and it's been answered many times over the years -- yes. There are certain opportunities that start to disappear as Berkshire gets ever larger.
However, through the first couple hours of the meeting, both Buffett and Munger returned to the theme that Berkshire's size and financial give the company huge competitive advantage. How many companies out there have billions in liquid cash available to jump on opportunities at a moment's notice? How many have managers of the right mettle to put that capital to work when the market is in disarray?�
Top Warren Buffett Companies To Own For 2014: First Citizens Banc Corp.(FCZA)
First Citizens Banc Corp operates as the holding company for The Citizens Banking Company, which provides various banking products and services in Ohio. It accepts various deposit products that include non interest-bearing and interest-bearing demand deposits; savings accounts comprising money market deposit accounts; and certificates of deposit, such as individual retirement accounts. The company?s loan portfolio comprises commercial and agricultural loans, commercial real estate loans, residential real estate loans, real estate construction loans, consumer loans, leases, and credit card and other loans. First Citizens also provides trust services, item-processing services for financial institutions, and third party insurance services. It operates in Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Union, and Richland Counties, Ohio. The company was founded in 1884 and is based in Sandusky, Ohio.
Top Warren Buffett Companies To Own For 2014: Dendreon Corporation(DNDN)
Dendreon Corporation, a biotechnology company, engages in the discovery, development, and commercialization of therapeutics to enhance cancer treatment options for patients. The company offers active cellular immunotherapy and small molecule product candidates to treat various cancers. Its product candidates comprise Provenge (sipuleucel-T), an active cellular immunotherapy for the treatment of metastatic, castrate-resistant prostate cancer; DN24-02, an investigational active immunotherapy for the treatment of patients with bladder, breast, ovarian, and other solid tumors expressing HER2/neu; and TRPM8, a small molecule agonist to transient receptor potential ion channel, for multiple cancers. The company also has a range of products in preclinical studies, which include Carcinoembryonic antigen for the treatment of lung, colon, and breast cancer; and Carbonic AnhydraseIX for the treatment of kidney cancer. Dendreon Corporation was founded in 1992 and is headquartered in S eattle, Washington.
Advisors' Opinion:- [By Sally Jones] The current DNDN share price is $3.39, or 53% off the 52-week high of $7.22.
Down 27% over 12 months, Dendreon Corp. (DNDN) has a market cap of $534.26 million, and trades at a P/S of 1.63.
Dendreon is a biotechnology company focused on the discovery, development and commercialization of novel therapeutics that improve cancer treatment options for patients. Its product portfolio includes active cellular immunotherapy and small molecule product candidates.
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The company recently reported a net loss in the second quarter of 2013 as $68.8 million, or $0.45 per share, compared to a net loss of $96.1 million, or $0.65 per share for the same period in 2012.
Top Guru shareholder PRIMECAP Management holds 2.43% of shares outstanding, with 3,789,800 shares. It�� taken a losing position for more than 30 quarters since the fourth quarter of 2003, averaging a loss of 85% on 9,168,650 shares bought at an average price of $23 per share.
Steven Cohen is another long-time stakeholder that sold out in the third quarter of 2012, unloading 173,800 shares at an average price of $5.86 for a loss of 42.2%. Cohen made a new buy in the first quarter of 2013, purchasing 352,600 shares at an average price of %5.86 per share for a loss of 42%.
10 Best Small Cap Stocks To Own For 2014: Books-A-Million Inc.(BAMM)
Books-A-Million, Inc. operates as a book retailer in the southeastern United States. The company operates superstores and traditional bookstores that offer a selection of hardcover and paperback books, magazines, and newspapers. It also offers other merchandise, including gifts, cards, collectibles, magazines, music, DVDs, and electronic accessories, as well as coffee, tea, and other edible products. The company markets its products under the trademarks of Books-A-Million, BAM! Books-A-Million, Bookland, Books & Co., Millionaire?s Club, Sweet Water Press, Thanks-A-Million, Big Fat Coloring Book, Up All Night Reader, Read & Save Rebate, Readables Accessories for Readers, Kids-A-Million, Teachers First, The Write-Price, Bambeanos, Hold That Thought, Book$mart, BAMM, BAMM.com, BOOKSAMILLION.com, Chillatte, Joe Muggs Newsstand, Page Pets, JOEMUGGS.com, FAITHPOINT.com, Faithmark, Joe Muggs, Anderson?s Bookland, Snow Joe, Summer Says, On the John University, OTJU, American Whole sale Book Company, AWBC, and NetCentral. It also offers its products over the Internet at Booksamillion.com. As of August 11, 2011, the company operated 231 stores in 23 states and the District of Columbia. Books-A-Million, Inc. was founded in 1917 and is based in Birmingham, Alabama.
Top Warren Buffett Companies To Own For 2014: Tibet Pharmaceuticals Inc.(TBET)
Tibet Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the research, development, manufacture, marketing, and sale of traditional Tibetan medicines. The company, through its operational entity, Yunnan Shangri-La Tibetan Pharmaceutical Group Limited (YSTP), develops products in China for promoting health in human respiratory, digestive, urinary, and reproductive systems. Its commercialized products include 25 Ingredients Mandrake Pill, which is used to regulate menses to treat endometritis, pelvic inflammations, and women?s anemia; 15 Ingredients Gentiana Pill to treat bronchitis, emphysema, asthma, and hoarseness; 28 Ingredients Pinang Pill for treating cold waist hip pain, pus hematuria, and testis swelling; 18 Ingredients Chebulic (Myrobalan) Frusemide Pill for the treatment of kidney problems, lumbar and kidney pain, frequent urination, turbid urine, diabetes, and spermatorrhea; and Pomegranate Nichirin Pill to treat indigestion, back and leg pain, frequent urination, foot edema, impotence, and nocturnal emission. The company also develops Xuezang Guben pill indicated for the treatment of neurasthenia, insomnia, frequent urination, nocturnal emission, and women?s menopausal symptoms; Shengke I that is in Phase III clinical testing for treating type II diabetes; Shengke II, which is in Phase II clinical testing for treating impotence and premature ejaculation, prostrate disease, and memory loss; Jiuzan pill that is in Phase II clinical testing for the treatment of chronic gastroenteritis and peptic ulcers; and Antai pill, a pre-clinical stage product for treating hepatitis B. In addition, it focuses to commercialize Wupeng Pill for treating echimococosis, pandora tingling disease, diphtheria, anthrax, yellow water disease, and leprosy. The company was formerly known as Shangri-La Tibetan Pharmaceuticals, Inc. and changed its name to Tibet Pharmaceuticals Inc. in July 2010. Tibet Pharmaceuticals, Inc. is headquartered in Wanchai, Hong Kong.
Top Warren Buffett Companies To Own For 2014: Jp Morgan Co Inc(JPM.L)
JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. Its Investment Bank segment offers various investment banking products and services, including advising on corporate strategy and structure, capital-raising in equity and debt markets, risk management, market-making in cash securities and derivative instruments, prime brokerage, and research services for corporations, financial institutions, governments, and institutional investors. The company?s Commercial Banking segment provides lending, treasury, investment banking, and asset management services to corporations, municipalities, financial institutions, and not-for-profit entities. Its Treasury and Securities Services segment offers cash management, trade, wholesale card, and liquidity products and services to small and mid-sized companies, multinational corporations, financial institutions, and government entities. This segment also holds, values, clears, and services secu rities, cash, and alternative investments for investors and broker-dealers; and manages depositary receipt programs. The company?s Asset Management segment provides investment and wealth management services to institutions, retail investors, and high-net-worth individuals. This segment offers investment management in equities, fixed income, real estate, hedge funds, private equity, and liquidity products, as well as trust and estate, banking, and brokerage services to high-net-worth clients; and retirement services for corporations and individuals. Its Retail Financial Services segment offers consumer and business, and mortgage banking products and services that include checking and savings accounts, mortgages, home equity and business loans, and investments. The company?s Card Services and Auto segment provides payment processing and merchant acquiring services. JPMorgan Chase & Co. was founded in 1823 and is headquartered in New York, New York.
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