Latest news with #Munger
The Advertiser
6 days ago
- Sport
- The Advertiser
'We were on Venus': US imports seal last-gasp win for out-of-sorts Falcons
Jiselle Havas did it against Norths two weeks earlier. And, the United States import did it again in Canberra on Saturday night. The American guard joined the Falcons in May after a strong campaign in the British Super League and has quickly proven to be a matchwinner under pressure. The 24-year-old held her nerve to produce a two-point jump shot with two seconds left on the clock at the Australian Institute of Sport on Saturday night to seal what coach Kristy Bultitude described as "a huge" 73-71 win. The Falcons were forced to stave off a fierce fightback from the fourth-placed Centre of Excellence (CoE) after holding a 61-53 lead heading into the final quarter. Their opponents chipped away at Newcastle's lead and closed the gap before hitting the front, 69-67, with four minutes remaining. Back-to-back NBL1 East Most Valuable Player Nicole Munger did what she does best, pulling off a couple of huge late plays. Munger sunk a two-point jump shot to level the score at 69-69 with two minutes remaining then produced a defensive rebound before scoring another two-pointer with less than a minute on the clock to again tie things up, this time at 71-71. Enter Havas, after being injected into the game with 26 seconds to play. CoE's Emilija Dakic missed shots either side of Havas' effort. "[Assistant coach] Bernadette [Schmidt] said to me, 'Who do you want on?', because Meg [Jefferson] fouled out, and I said, 'Put Jiselle on', another shooter," Bultitude said. "Jiselle has done it twice for us now, hit the game-winning shot. She did it against Norths as well." Munger finished the game with a game-high 19 points. Jefferson chimed in with 14 points. Bultitude felt it was a lucky escape on an off night for the Falcons. "When you don't play your best and you can walk away with a win, you're pretty satisfied," Bultitude said. "We were on Venus ... our mental aptitude was just missing completely. I don't know what went wrong, whether it was just having two weeks off and not having a game. I was drawing plays that I haven't had to draw from round three ... it was just one of those nights. "We were very lucky we got over the line and then even luckier that Norths lost last night to Albury. It was a huge result. It means now we've sort of got that one game up on Norths. "But, I think it's just the culture of the group. They stick together. They know that things aren't going well for them and their heads may be down but they just get after it for each other." The win has defending champions Newcastle top of the points table as they eye a weekend double-header on the road against second-placed Norths and 12th-placed Penrith. The seventh-placed Falcons men went down fighting in an 86-80 to leaders CoE on Saturday night. Newcastle trailed 69-55 at three-quarter time but Ryan Beisty had them within three points of their opponents, at 83-80, when he drained a three-point jump shot with less than two minutes remaining. Elijah Stephens finished with 20 points for the Falcons, Matur Maluach scored 17 points and Myles Cherry produced 14 points and 11 rebounds. Jiselle Havas did it against Norths two weeks earlier. And, the United States import did it again in Canberra on Saturday night. The American guard joined the Falcons in May after a strong campaign in the British Super League and has quickly proven to be a matchwinner under pressure. The 24-year-old held her nerve to produce a two-point jump shot with two seconds left on the clock at the Australian Institute of Sport on Saturday night to seal what coach Kristy Bultitude described as "a huge" 73-71 win. The Falcons were forced to stave off a fierce fightback from the fourth-placed Centre of Excellence (CoE) after holding a 61-53 lead heading into the final quarter. Their opponents chipped away at Newcastle's lead and closed the gap before hitting the front, 69-67, with four minutes remaining. Back-to-back NBL1 East Most Valuable Player Nicole Munger did what she does best, pulling off a couple of huge late plays. Munger sunk a two-point jump shot to level the score at 69-69 with two minutes remaining then produced a defensive rebound before scoring another two-pointer with less than a minute on the clock to again tie things up, this time at 71-71. Enter Havas, after being injected into the game with 26 seconds to play. CoE's Emilija Dakic missed shots either side of Havas' effort. "[Assistant coach] Bernadette [Schmidt] said to me, 'Who do you want on?', because Meg [Jefferson] fouled out, and I said, 'Put Jiselle on', another shooter," Bultitude said. "Jiselle has done it twice for us now, hit the game-winning shot. She did it against Norths as well." Munger finished the game with a game-high 19 points. Jefferson chimed in with 14 points. Bultitude felt it was a lucky escape on an off night for the Falcons. "When you don't play your best and you can walk away with a win, you're pretty satisfied," Bultitude said. "We were on Venus ... our mental aptitude was just missing completely. I don't know what went wrong, whether it was just having two weeks off and not having a game. I was drawing plays that I haven't had to draw from round three ... it was just one of those nights. "We were very lucky we got over the line and then even luckier that Norths lost last night to Albury. It was a huge result. It means now we've sort of got that one game up on Norths. "But, I think it's just the culture of the group. They stick together. They know that things aren't going well for them and their heads may be down but they just get after it for each other." The win has defending champions Newcastle top of the points table as they eye a weekend double-header on the road against second-placed Norths and 12th-placed Penrith. The seventh-placed Falcons men went down fighting in an 86-80 to leaders CoE on Saturday night. Newcastle trailed 69-55 at three-quarter time but Ryan Beisty had them within three points of their opponents, at 83-80, when he drained a three-point jump shot with less than two minutes remaining. Elijah Stephens finished with 20 points for the Falcons, Matur Maluach scored 17 points and Myles Cherry produced 14 points and 11 rebounds. Jiselle Havas did it against Norths two weeks earlier. And, the United States import did it again in Canberra on Saturday night. The American guard joined the Falcons in May after a strong campaign in the British Super League and has quickly proven to be a matchwinner under pressure. The 24-year-old held her nerve to produce a two-point jump shot with two seconds left on the clock at the Australian Institute of Sport on Saturday night to seal what coach Kristy Bultitude described as "a huge" 73-71 win. The Falcons were forced to stave off a fierce fightback from the fourth-placed Centre of Excellence (CoE) after holding a 61-53 lead heading into the final quarter. Their opponents chipped away at Newcastle's lead and closed the gap before hitting the front, 69-67, with four minutes remaining. Back-to-back NBL1 East Most Valuable Player Nicole Munger did what she does best, pulling off a couple of huge late plays. Munger sunk a two-point jump shot to level the score at 69-69 with two minutes remaining then produced a defensive rebound before scoring another two-pointer with less than a minute on the clock to again tie things up, this time at 71-71. Enter Havas, after being injected into the game with 26 seconds to play. CoE's Emilija Dakic missed shots either side of Havas' effort. "[Assistant coach] Bernadette [Schmidt] said to me, 'Who do you want on?', because Meg [Jefferson] fouled out, and I said, 'Put Jiselle on', another shooter," Bultitude said. "Jiselle has done it twice for us now, hit the game-winning shot. She did it against Norths as well." Munger finished the game with a game-high 19 points. Jefferson chimed in with 14 points. Bultitude felt it was a lucky escape on an off night for the Falcons. "When you don't play your best and you can walk away with a win, you're pretty satisfied," Bultitude said. "We were on Venus ... our mental aptitude was just missing completely. I don't know what went wrong, whether it was just having two weeks off and not having a game. I was drawing plays that I haven't had to draw from round three ... it was just one of those nights. "We were very lucky we got over the line and then even luckier that Norths lost last night to Albury. It was a huge result. It means now we've sort of got that one game up on Norths. "But, I think it's just the culture of the group. They stick together. They know that things aren't going well for them and their heads may be down but they just get after it for each other." The win has defending champions Newcastle top of the points table as they eye a weekend double-header on the road against second-placed Norths and 12th-placed Penrith. The seventh-placed Falcons men went down fighting in an 86-80 to leaders CoE on Saturday night. Newcastle trailed 69-55 at three-quarter time but Ryan Beisty had them within three points of their opponents, at 83-80, when he drained a three-point jump shot with less than two minutes remaining. Elijah Stephens finished with 20 points for the Falcons, Matur Maluach scored 17 points and Myles Cherry produced 14 points and 11 rebounds. Jiselle Havas did it against Norths two weeks earlier. And, the United States import did it again in Canberra on Saturday night. The American guard joined the Falcons in May after a strong campaign in the British Super League and has quickly proven to be a matchwinner under pressure. The 24-year-old held her nerve to produce a two-point jump shot with two seconds left on the clock at the Australian Institute of Sport on Saturday night to seal what coach Kristy Bultitude described as "a huge" 73-71 win. The Falcons were forced to stave off a fierce fightback from the fourth-placed Centre of Excellence (CoE) after holding a 61-53 lead heading into the final quarter. Their opponents chipped away at Newcastle's lead and closed the gap before hitting the front, 69-67, with four minutes remaining. Back-to-back NBL1 East Most Valuable Player Nicole Munger did what she does best, pulling off a couple of huge late plays. Munger sunk a two-point jump shot to level the score at 69-69 with two minutes remaining then produced a defensive rebound before scoring another two-pointer with less than a minute on the clock to again tie things up, this time at 71-71. Enter Havas, after being injected into the game with 26 seconds to play. CoE's Emilija Dakic missed shots either side of Havas' effort. "[Assistant coach] Bernadette [Schmidt] said to me, 'Who do you want on?', because Meg [Jefferson] fouled out, and I said, 'Put Jiselle on', another shooter," Bultitude said. "Jiselle has done it twice for us now, hit the game-winning shot. She did it against Norths as well." Munger finished the game with a game-high 19 points. Jefferson chimed in with 14 points. Bultitude felt it was a lucky escape on an off night for the Falcons. "When you don't play your best and you can walk away with a win, you're pretty satisfied," Bultitude said. "We were on Venus ... our mental aptitude was just missing completely. I don't know what went wrong, whether it was just having two weeks off and not having a game. I was drawing plays that I haven't had to draw from round three ... it was just one of those nights. "We were very lucky we got over the line and then even luckier that Norths lost last night to Albury. It was a huge result. It means now we've sort of got that one game up on Norths. "But, I think it's just the culture of the group. They stick together. They know that things aren't going well for them and their heads may be down but they just get after it for each other." The win has defending champions Newcastle top of the points table as they eye a weekend double-header on the road against second-placed Norths and 12th-placed Penrith. The seventh-placed Falcons men went down fighting in an 86-80 to leaders CoE on Saturday night. Newcastle trailed 69-55 at three-quarter time but Ryan Beisty had them within three points of their opponents, at 83-80, when he drained a three-point jump shot with less than two minutes remaining. Elijah Stephens finished with 20 points for the Falcons, Matur Maluach scored 17 points and Myles Cherry produced 14 points and 11 rebounds.
Yahoo
11-06-2025
- Business
- Yahoo
Warren Buffett says stocks offer ‘much more opportunity' than real estate — and Charlie Munger would've agreed
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Real estate has long been a go-to asset for building wealth in America, offering income through rent and potential gains through appreciation. But according to investing legend Warren Buffett, there's one asset class he — and his late business partner Charlie Munger — would take over property any day. 'There's just so much more opportunity — at least in the United States — that presents itself in the security market than it does in real estate,' Buffett said at Berkshire Hathaway's latest annual shareholders meeting, when asked why he isn't buying more real estate. Buffett pointed to the complexity and sluggishness of real estate deals compared to the ease and speed of stock transactions. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'In respect to real estate, it's so much harder than stocks in terms of negotiation of deals, time spent, the involvement of multiple parties in the ownership,' he said. 'Usually when real estate gets in trouble, you find out you're dealing with more than an equity holder.' While Munger, who served as Berkshire's vice chairman until his death in 2023, 'enjoyed' real estate and did 'a fair number' of deals in his final years, Buffett believes Munger's true allegiance was always clear. 'I think if you'd asked him to make a choice when he was 21, that he'd either be in stocks exclusively the rest of his life or real estate the rest of his life, he would have chosen stocks in a second,' Buffett said. For Buffett, the simplicity of stock investing is hard to beat. He noted that you can walk down to the New York Stock Exchange and 'do billions of dollars worth of business totally anonymously,' all within five minutes. Real estate, by contrast, is a slow grind. '[The negotiation] just begins when you agree on deals — and then they take forever,' he said. At his age, Buffett's takeaway is clear: 'For a guy at 94, it's not the most interesting thing to get involved in something where the negotiations could take years.' Buffett has built his legacy on seizing opportunities in the stock market. Under his leadership, Berkshire Hathaway has delivered enormous returns to shareholders over the decades. And while the Oracle of Omaha plans to step down as CEO later this year, everyday investors can still follow one timeless strategy he champions — no stock-picking skills required. 'In my view, for most people, the best thing to do is own the S&P 500 index fund,' Buffett famously said. This approach gives investors exposure to 500 of America's largest companies across a wide range of industries, providing instant diversification without the need for constant monitoring or active management. Buffett's belief in this strategy runs so deep, he's built it into his own estate plan — directing that 90% of his wife's inheritance be invested in 'a very low-cost S&P 500 index fund' after his passing. The beauty of this approach is its accessibility — anyone, regardless of wealth, can take advantage of it. Even small amounts can grow over time. Read more: Rich, young Americans are ditching the stormy stock market — While Buffett doesn't mince words about the complexities of real estate, he still points to it as a prime example of a productive, income-generating asset. In 2022, Buffett stated that if you offered him '1% of all the apartment houses in the country' for $25 billion, he would 'write you a check.' Why? Regardless of what's happening in the broader economy, people still need a place to live. And with an estimated shortage of 4.5 million homes in the U.S., the demand for rental housing remains strong, helping keep occupancy rates high and rental income flowing. But Buffett's caution about how real estate transactions still holds true — even at the individual level. In the U.S., it typically takes 30 to 60 days to close on a home after an offer is accepted. Conditions, clauses and financing delays can drag the process out even further. The good news? These days, you don't need to buy an entire property — or hunt for deals yourself — to start investing in real estate. For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. If you're not an accredited investor, crowdfunding platforms like Arrived allow you to enter the real estate market for as little as $100. Arrived offers you access to shares of SEC-qualified investments in rental homes and vacation rentals, curated and vetted for their appreciation and income potential. Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allow accredited and non-accredited investors to take advantage of this inflation-hedging asset class without any extra work on your part. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. 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Miami Herald
10-06-2025
- Business
- Miami Herald
Warren Buffett & Squishmallows: How these cute toys are making the renowned investor richer
Not many shareholder meetings provide investors with the chance for retail therapy-but then again, not many companies are Berkshire Hathaway (BRK.A) . Typically, shareholder meetings are staid events where investors discuss financial reports and vote on proposals, but Berkshire Hathaway, founded by the 'Oracle of Omaha,' Warren Buffett, has taken its annual meetings up a notch-by offering investors the chance to get to know the products they are investing in while they participate in company affairs. In fact, Warren Buffett's $1.1 trillion investment conglomerate is revered for its awesome shareholder meetings, even earning the nickname "Woodstock for Capitalists," since thousands of investors flock to Omaha for a few days to not only learn the latest in company news, but also to hear Buffett share his personal views on the market, investing, and life in general. Buffett is famous for solely investing in companies he believes in that make products he actually uses. This includes eating breakfast at McDonald's (MCD), drinking five cans of Coca-Cola (KO) a day, and often visiting his local Dairy Queen for a sundae with cherry syrup and nuts. He believes these products-and their companies-will stand the test of time, and in fact, they have already made him very, very rich. Berkshire Hathaway's annual meeting took place May 2–3, 2025, at the CHI Health Center in downtown Omaha. Festivities included a 5k run, a shareholder picnic, and the "Berkshire Bazaar of Bargains"-a 20,000-square-foot shareholder-only shopping event that featured products from the conglomerate's holdings. Don't miss the move: Subscribe to TheStreet's free daily newsletter Shareholders could purchase everything from Brooks Sports' clothing to chocolate coins from See's Candies to a limited-edition trio of Squishmallows in the likenesses of Buffett, Berkshire's Vice Chairman, the late Charlie Munger, and "Omaha," a plush pit bull. These adorable toys weren't the first time Squishmallows immortalized Buffett and Munger, either. To commemorate Berkshire's acquisition of Alleghany Corporation, the parent company of Squishmallows' manufacturer, Jazwares, the company released an exclusive set of Buffett and Munger plushies in time for Berkshire's 2023 shareholder meeting. CNBC reported that in a mere few hours, 10,000 sets of the toys had been sold. Today, the original, limited-edition set of Buffett and Munger Squishmallows can be found on eBay for as much as $480. But Buffett's 2025 edition Squishmallow already has special significance, since during his shareholder address, the famed investor revealed that he would be stepping down as Berkshire's CEO and Chairman at the end of the year. Social media was immediately flooded with images of the cuddly collector's item. View the original article to see embedded media. Squishmallows have not only captivated Buffett; they've also taken the world by storm. Jazwares' ultra-soft collectibles are woven from a unique fabric that's said to feel like marshmallow-hence its name. Squishmallows range in size from tiny 3.5" keychains to life-sized, two-foot dolls. There are a whopping 3,000 varieties of Squishmallows, each with its own name, charming backstory, and collector number. Their relatively wallet-friendly prices ($10 to $100+) have made them the must-have toy of the decade. As of the end of 2024, Jazwares had sold more than 400 million Squishmallows. Related: Charlie Munger's net worth: The late Berkshire Hathaway vice chair's wealth The egg-shaped toys are so popular, Squishmallows are even doing their own crossover collabs with Berkshire Hathaway's other 70 companies. For example, not only did Jazwares produce plush toys in Warren Buffett and Charlie Munger's likeness, it also created a line of Halloween toys through a partnership with See's Candy, a Berkshire Hathaway holding since 1972. The collab, which launched in October 2024, featured Squishmallows' popular bat, Emily, tricked out in a See's logo and carrying a treat bucket. In addition, Emily-shaped boxes of See's Candies were filled with lollipops and chocolates. The set retailed for $40. Squishmallows caught Buffett's attention back in 2021. The famed investor had lamented in a letter to shareholders that Berkshire was sitting on $44 billion in cash because "we find little that excites us" in the markets. Then he discovered Squishmallows-and the rest is history. Squishmallows' parent company, Jazwares, is part of a diverse set of business interests that make up Alleghany Corporation (Y), a New York-based holding company that also includes insurance, hotels, and heavy industrial manufacturers under its umbrella. In March 2022, Berkshire Hathaway made a $11.6 billion offer to purchase Alleghany, and the deal was sealed in October 2022. Buffett himself has amassed a $155.5 billion fortune by identifying companies trading below their intrinsic value, buying them, and then holding onto them for decades as shares ascend skyward. It seems Buffett's endorsement has already raised Jazwares' profile, too. While the company remains privately held, its 2022 sales were estimated to be around $59 million; by 2023, that number had risen to $1 billion, largely driven by demand for Squishmallows. In interviews, Buffett has called Jazwares "a gem" and Judd and Laura Zebersky, the husband-and-wife team behind Jazwares, the "ideal Berkshire managers." The love, it appears, is mutual. Warren Buffett and Charlie Munger were actually the first humans to appear as Squishmallows. Their debut set featured Buffett and Munger wearing suits: Buffett held a popsicle, in testament to his notorious sweet tooth, while Munger carried a copy of a book of Benjamin Franklin quotes, since the value investor frequently cited his admiration for the Founding Father. The Zeberskys both left jobs in the legal profession to pursue their passion for toys. In addition to Squishmallows, Jazwares also makes popular lines for Hasbro (HAS) as well as the Disney (DIS), Star Wars, Marvel, and Pokémon franchises. Overall, Squishmallows make up an impressive 40% of Jazwares' total revenues. Anyone can make a squishy soft toy - savvy marketing is what elevates Squishmallows to greatness. Co-founder Laura Zebersky is known for seeking out nontraditional advertising channels to sell her company's products, such as on social media and through influencer marketing. The fact that Squishmallows appeal to both kids and adults is another reason for their enduring popularity. Jazwares has even admitted that the Squishmallows' biggest buyers are adults 18 and up. More on smart investors: Bill Gates' net worth: Just how much has he made-and given away?LeBron James' net worth: New records, unparalleled wealthBarbara Corcoran's net worth: The 'Shark Tank' star's wealth & investments Ironically, the COVID-19 pandemic may have been Squishmallows' biggest boon. Everyone was stuck at home, giving many adults the chance to play with toys again. The cuddly nature of Squishmallows helped ease the feelings of anxiety and isolation that people were experiencing-just hug a Squishmallow and you'll see for yourself! You can pick up a Squishmallow at nearly every major retailer from CVS to Walmart, but if you've got your eyes on a specific squad member, you'd best do your homework before you head out, because stock can change quickly. Some stores also have exclusive rights to sell certain Squishmallows: Jazwares was intentional in selecting a "curated list" of retailers it licensed with, which helped to spur near-obsessive levels of demand. You can literally feel the difference between an authentic Squishmallow and one of its many knockoff counterparts. Squishmallows have a soft polyester fiber and spandex fabric that is unique to the brand, which also imparts a sense of exclusivity. Some online retailers, like Amazon AMZN, are so certain of the plush toys' appeal that they have opted to offer specific deals on Squishmallows instead of site-wide holiday sales. Collectors should be sure to keep their eyes peeled. Or, you could always invest in BRK and have the chance to go shopping at its annual shareholder meetings. As of June, 2025, Class A shares are going for a mere $740,396 each. Related: The 10 most reliable car brands in 2025 according to Consumer Reports The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
08-06-2025
- Business
- Yahoo
3 Reasons to Buy Floor & Decor Stock Like There's No Tomorrow
Floor & Decor's business model earned praise from an all-time great investor, and it has large expansion plans. The stock's valuation is more attractive than usual and it's unlikely to get much cheaper tomorrow. 10 stocks we like better than Floor & Decor › In 2017, home improvement retail chain Floor & Decor Holdings (NYSE: FND) went public. It only had about 70 locations and was still virtually unknown. And investors could have bought it at any time during the past eight years. But now it's time to buy Floor & Decor stock like there's no tomorrow. Of course, that's just an expression -- there will be a tomorrow for Floor & Decor, and I believe it will be great for shareholders. That's why I believe it's worth the investment today. But when it comes to buying the stock at an attractive price, I don't think that investors should necessarily wait until tomorrow, hoping for any entry point that's better than this. The valuation is my third reason to buy Floor & Decor stock today. But first allow me to explain two other reasons why it's a good buy right now. Before he passed away in 2023, Charlie Munger was renowned for being a great investor and one who was focused on business fundamentals. Therefore, when he praises a business model, it's a big deal. And in one of his final interviews, Munger praised Floor & Decor. There are two extremes in retail. One approach is to have a lot of little stores -- GameStop fits in this category. It ended 2024 with over 3,200 locations, which is massive. But each location only had just over $1 million in annual sales. The other approach is to have relatively few stores that handle massive volume, which is Floor & Decor's business model and what Munger loved about it. It follows the same logic as one of his favorite businesses, Costco Wholesale. Floor & Decor only has around 250 locations today and it only expects to have around 500 long term. But each is between 50,000 square feet and 80,000 square feet. And with $4.5 billion in overall trailing-12-month revenue, these 250 stores are certainly high volume. High-volume stores can serve Floor & Decor by creating operating leverage, leading to strong profitability. It's something to watch as the business grows. As mentioned, Floor & Decor is looking to grow to at least 500 locations in coming years. Here in 2025, it's looking to open 20 new stores, which is about 8% growth. But keep in mind that this growth is slow by this company's standards. Given the economic uncertainty right now, management pulled back on this year's plans. Ordinarily, shareholders can expect Floor & Decor to open new locations at a faster rate as it expands toward its long-term goal. But opening new stores isn't the only growth strategy. The company owns another business called Spartan Surfaces, which does flooring installations for commercial properties, such as hospitals. This is a great ancillary business idea for Floor & Decor. Circling back to the business model, there's a ceiling to the opportunity with its retail locations -- it doesn't want a lot of low-volume stores. But it can still leverage its infrastructure with this ancillary commercial business. Between sales growth, new stores, and newer ideas, I believe that Floor & Decor can double its revenue in the next five years or so. That's a good opportunity for investors. It's widely agreed that Home Depot is a great business, but even the most bullish shareholders would have to concede that its growth prospects are somewhat slim. Floor & Decor's growth outlook is much better. And yet, in spite of this, the price-to-sales (P/S) valuation for Home Depot stock is much more expensive. One might object to my valuation comparison, pointing to Home Depot's superior profit margins, which is true. That said, a growth company such as Floor & Decor shouldn't be expected to be optimized for profits in the same way as a mature business such as Home Depot. During the pandemic-fueled home improvement spending boom, Floor & Decor had a profit margin of over 8%, which is about what Home Depot's margin is now. Therefore, the company is capable of better -- it's proved it. And even during this period of sluggish flooring sales, it still has a profit margin of about 5%. In other words, Floor & Decor stock is cheap when looking at its growth prospects. Those who think it should be cheaper because of its lower profit margins might not be seeing the whole picture. I've long believed Floor & Decor is simple idea and yet a strong multibagger investment opportunity. That hasn't changed. But now that this American stock is trading at one of its cheapest valuations ever, and even at a discount to more mature businesses such as Home Depot, I believe now is the time to buy Floor & Decor stock like there's no tomorrow. Before you buy stock in Floor & Decor, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Floor & Decor wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Jon Quast has positions in Floor & Decor. The Motley Fool has positions in and recommends Costco Wholesale and Home Depot. The Motley Fool has a disclosure policy. 3 Reasons to Buy Floor & Decor Stock Like There's No Tomorrow was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
31-05-2025
- Business
- Yahoo
Charlie Munger Turned $1,000 Into Over $1 Million — And Made His Unemployed Friend Rich Too: 'Trouble With That Story Is It Only Happened Once'
What do you get when you mix $1,000, an unemployed golf buddy, and Charlie Munger's brain? Apparently, a passive income stream that lasted decades. No hedge fund, no Wall Street pitch deck — just Munger, long before his Berkshire Hathaway days, spotting a scrappy oil royalty deal and turning it into one of the most quietly outrageous investments of his life. And the best part? He didn't go it alone — he brought his unemployed friend along for the million-dollar ride. Back in 1962, Munger was still practicing law in Los Angeles when he met Al Marshall, an out-of-work oil industry worker trying to buy mineral rights at auction. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Hasbro, MGM, and Skechers trust this AI marketing firm — Munger, seeing the flaws in Marshall's strategy but liking the bones of the deal, decided to go in with him. Each put up $1,000 and bought into oil royalties through what was then a legal tax shelter known as an AB trust, which was later outlawed. And the returns? Straight-up legendary. "Fifty years later we were getting $100,000 a year on that investment," Munger told the crowd at the 2016 Daily Journal shareholder meeting. "The trouble with that story is that it only happened once." He delivered it with a chuckle, but the message was clear: not every great investment is repeatable — which is exactly why you act when you spot one. Munger touched on the story again during his final Daily Journal meeting in 2023, a full-circle moment near the end of his career, where he once more emphasized the rarity of those life-changing opportunities. Trending: Maximize saving for your retirement and cut down on taxes: . The story is backed by Janet Lowe's 2000 biography "Damn Right!," where Marshall said, "We only put up $1,000 each, and we've each probably made a half a million out of it." He added, "I'm still getting $2,000 to $3,000 a month from that," confirming the checks were still rolling in decades later. That's right — from a $1,000 investment, Munger's family was still cashing royalty checks well into the 21st century. All from a single, overlooked opportunity. Of course, Munger never sugarcoated it. "The trick in life," he told that 2016 crowd, "is when you get the one, or two, or three [big opportunities] that your fair allotment for a life is — that you've got to do something about it." And if you're still grinding toward that first big win? He had advice for that, too: "The first $100,000 is a b*tch, but you gotta do it." Hard work. A sharp eye. A little luck. And when the rare opportunity does show up? Move fast — because even for Charlie Munger, it only happened once. Read Next: Here's what Americans think you need to be considered Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Charlie Munger Turned $1,000 Into Over $1 Million — And Made His Unemployed Friend Rich Too: 'Trouble With That Story Is It Only Happened Once' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
