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Hodges Bradberry
Works at C.V. Starr & Co
Attended UGA
Lives in Atlanta, GA
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Hodges Bradberry

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Investing entry:
Sold 23% of my holdings in IPGP due to the increased risk from the secondary offering announced last week. While the company could invest in their business which has historically high returns on capital I don't know management very well and must trust that they aren't going to waste the secondary proceeds on a value destroying acquisition. I don't know so decided to lighten my position.

The sale was within my Roth IRA so I'm likely to buy the following:

1) MELI - online auctioneer for Latin America with eBay as a 18% shareholder. This area of the world is home to some of the largest increases in middle class (Brazil, Chile, Columbia, Ecuador). Internet penetration is still low (37%) relative to more advanced economies (77% in USA) so growth is ahead. Compared with ebay MELI has plenty of growth ahead in revenue and EPS

2) ARCO - very similar story to MELI as the MCD franchisee for Latin America. This is a play on the Latin America story as well. Very good management that have been with the company for many years. Comp sales increased by double digits and sales increased by 17.7% last year in native currency terms. They continue to invest in store openings so expenses have been high but the opportunity is there.
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Hodges Bradberry

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Another interesting message from +james altucher. I particularly like the practical application of N) Don't drink. It is difficult to do in western culture but good advice.
james altucher originally shared:
 
How do you deal with regrets?
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Hodges Bradberry

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The news of a large part of the Kenyan population now having Android smart phones is wonderful to hear. Land lines are now superfluous for that society. How else might African countries develop differently than we are led to believe?
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Hodges Bradberry

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The traffic on Peachtree Road in Atlanta sucks too but I think this is more to do with the construction on a median than economic progress. Good indicator of economic activity though.
Mike Elgan originally shared:
 
Why I'm optimistic about the economy

The media implies that the stock market is a reliable leading indicator of economic health (no, not me -- the other media).

I have my own leading indicator: Silicon Valley traffic.

Over the years, I've noticed that growth and slowdowns in the US economy are always predicted by traffic here. When the traffic gets better, that means the economy is about to get worse. And vice versa.

The same goes for housing and office space. In general, if you can easily drive, rent an apartment, buy a house or lease office space in Silicon Valley, recession is coming.

So I've got good news for the global economy: The traffic here SUCKS.

More good news: It's getting very hard to rent an apartment. And all the office space is being gobbled up. I know someone who went to see a ho-hum apartment for rent in Santa Clara, and found 40 other people also trying to rent the same place. Friends tell me the price of office space is way up, and good space is getting very hard to find.

So break out the cigars and champagne, folks. Silicon Valley's first-world problems are getting worse.
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Hodges Bradberry

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From Chip Towers at the AJC covering UGA sports:
'BSmith on sharing No. 1 with Crowell: “. . The number doesn’t make me. I make the number.” '

Love it. 
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Hodges Bradberry

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This post gives a good summary of the different sharing configurations of circles.
Toby Stein originally shared:
 
A word on who can see what in Google+

My dad called this weekend to ask about the various configurations of sharing on Google+. He's not the only one who's been wondering, so here's a quick summary of the 3 sharing configurations that you may be wondering about: 1) between two people who are in each other's circles, 2) between you and someone who you have added but has not added you back, and 3) between you and someone who has added you but who you have not added back.

1) Reciprocated circles
You can see in your stream: everything that they post publicly or to the circle that they have added you to.
They can see in their stream: everything that they post publicly or to the circle that you have added them to.

2) You added them, but they didn't add you
You can see you your stream: only the items that they post publicly
They can see in their stream: none of your public posts or the posts to the circle into which you have placed them. However, they do have access to your posts via their "Incoming" stream located on the left.

3) They added you, but you didn't add them
You can see in your stream: nothing of their posts that are either public or directed at you. These posts will come through the "Incoming" stream.
They can see in their stream: Only the posts that you have added publicly. This tends to be the one that has people asking the most questions. Think of it as people subscribing to your blog or Twitter feed. They want to see what you are posting and you are under no obligation to add them back - do whatever feels comfortable and keeps your stream manageable and pertinent. Remember, these people can still comment on these posts and can +mention you directly in one of their posts. In that case, the post will spur a "mentioned you in a post" notification although you will not see that post in your stream.

Hope this helps!
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Makes sense! Thanks for sharing.
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Hodges Bradberry

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I haven't shared in awhile. I found the news that Warren Buffett put $23.9 billion to work in equities in the third quarter very interesting. He doesn't appear concerned in the least in macro economic factors--never has and never will.

I'm looking into KMT, GLW, YONG

KMT--industrial play on increased factory activity going forward. They supply cutting tools and related expendables. Cheap historically. Razor and blades model makes the cash flows very dependable. I may buy some this week.

GLW--bought some last month. It is extremely cheap historically and I believe Gorilla Glass will be a huge driver going forward.

YONG--this is fairly speculative as it is a Chinese company but Morgan Stanley has taken an equity position and has board membership. I think it is less risky than most Chinese small cap companies. If the reports are to be believed this one is very cheap. They make additives for the soil to increase production per square acre--a real need for China.
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A follow up from DARPA says the test flight of the Hypersonic Test Vevhicle-2 wasn't a complete failure and they will be able to cobble together data from 20 different collection points to learn more about flight at Mach 20.
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Just bought another slice of ITRN at 12.47 per share. Last week's quarterly report showed nice top and bottom line growth. They continue to grow in South America with Israel holding steady. I think the unrest from Middle East headlines will continue to cause volatility for the company even though most of their operations are outside the region.

Based on the cash flow I think management will pay another nice dividend next March (last March a $1/share div was paid). At today's price the div yield is around 8%. After foreign taxes on the dividend I'm still getting around 6.5%. Nice for a growing company.
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This excellent piece was brought to my attention by Bill Mann, fund manager at The Motley Fool via Twitter. N. Korea will surprise all in 2012 with their affluence. Bill doesn't think this is code for "can feed own people" but we will see in 2012. Can't wait.
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Turns out I'm against government spending.
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104 people
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P&C Insurance Underwriter
Employment
  • C.V. Starr & Co
    SVP - Starr Aviation Agency Inc., present
  • Chartis
    EVP - Truck Insurance Group, 1994 - 2007
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Atlanta, GA
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Savannah, GA - Athens, GA - Puyallup, WA
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I have 3 lovely daughters and a patient beautiful wife
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  • UGA
    Risk Management, 1988 - 1992
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