Is Discovery Inc. (DISCK) A Smart Long-Term Buy?
Silver Ring Value Partners, an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here. The partnership has compounded capital at an annualized rate of over 17% per year net of fees since inception. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Silver Ring Value Partners, in their Q1 2021 investor letter, mentioned Discovery, Inc. (NASDAQ: DISCK), and shared their insights on the company. Discovery, Inc. is a New York, New York-based mass media company that currently has a $17 billion market capitalization. Since the beginning of the year, DISCK delivered a 19.82% return, extending its 12-month gains to 62.09%. As of May 03, 2021, the stock closed at $31.38 per share.
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Loss causation – the causal connection between a
defendant s fraudulent conduct and a plaintiff s economic
loss – is a required element of a federal securities fraud
claim.
1 A typical securities class action is brought on
behalf of investors who contend they purchased a company s
stock in reliance on corporate misstatements. The investors allege
that they purchased their shares at a price artificially inflated
by the misstatements, and then suffered damage when the truth about
the misstatements was revealed to the market and the stock price
dropped.
Chalk one up for Efficient Market Theory, a hypothesis that the prices of stocks and other assets reflect all available information.
Although evidence is accumulating about the effect of climate change on everything from weather patterns to human health, scientists can still only paint a partial picture of the future. Nonetheless, stock, corporate and municipal bond, futures, and options markets are doing a good job of incorporating climate risks into asset prices, despite the complexity and uncertainty.
In recent research, which includes a review of outside academic studies, Dimensional Fund Advisors sought to address the question of whether and how well climate risks are priced into different markets. Dimensional looked at how the markets priced both physical risks and transitional risk, which arises as economies move away from fossil fuels and to a low carbon economy. The new research grew out of Dimensional’s study of the economics of climate change published in October.�
What better title to kick off our list than the collected essays of one of the most successful investors of all time?
Continuing a 25-year edition, the fifth edition of The Essays compiles the best writings of the famed investor into a resource that is both insightful and educational.
Essentially a digest of Buffett’s diary – edited and organised by topic so even beginners can easily follow along – the publication serves up some of Buffett’s innermost thoughts and experiences as a businessman and investor.
Given the richness of the source material (no pun intended), it is little wonder that investors and business people regularly seek out the title, which remains one of Buffett’s most autographed publications of all time.