Angott Search Group’s Post

Quotes from a GOAT 🐐 🐐🐐Bill Nygren on how the market seems to continually underestimate the per share earnings power of companies with stable (flat) earnings that buy back tons of cheap stock at low P/Es (and high FCF yields)… “We’ve seen so many examples of companies that have had disciplined buyback plans over multiple years, and the tremendous impact that can have on share price.” “It just seems like investors won’t pay much for growth in EPS that comes from share repurchase. But GM’s EPS will be going up about 40% if they maintain flat net income just bc of the decrease in the denominator.” “If they keep buying back 20% per year, we’ll be the only shareholder in 2029.”😉💪 (BTW that last quote is true mathematically as long as the stock price doesn’t go higher. But, of course, Oakmark is not going to be the only shareholder in 2029 because a company with no net income growth and 100% FCF conversion can use all or most of FCF to buy back stock at obscenely low P/Es to almost force the P/E multiple (and the stock price) higher over time).

I try to learn and share new business lessons every day. Today I came across a fascinating story about Wells Fargo's turnaround after their huge fake accounts scandal in 2016. Talk about a reputation nightmare! Here's the thing - Wells Fargo didn't shy away from the problem. They actually took some major steps to fix it: New Leadership: They brought in fresh faces at the top, replacing executives who pushed those aggressive sales tactics. Making Amends: They paid billions in fines and compensated affected customers for the mess. Policy Shifts: They revamped their whole sales approach to prioritize customer needs, not just numbers. Transparency Boost: They committed to being much more open with regulators and the public. It's a long journey to rebuild trust, but these actions showed Wells Fargo was serious about improving their customer service game. #CustomerServiceFail #BankingCrisis #RegainingTrust #CorporateResponsibility

We are excited to share that Santa Cruz County Bank and 1st Capital Bank have decided to merge. Watch a special video from our President and CEO, Krista Snelling, regarding this exciting news. This union will create one of the largest community banks in Central California. The combined bank will serve Monterey, San Luis Obispo, Santa Clara and Santa Cruz counties with nearly $3 billion in assets. This increase in scale means greater lending capacity and the ability to broaden our support for the communities we serve. As we join forces with a like-minded partner who shares our vision of providing exceptional service, innovative solutions and meaningful community impact, we are confident this merger will bring many benefits to our region and our clients. Together, we will be able to offer enhanced products and services, more convenience and access, and more opportunities to grow and thrive. We look forward to keeping you informed as we work toward the completion of this union. In the meantime, you can continue to bank with us as usual. Thank you for your trust and loyalty. We are excited about the future and what we can achieve together. For more information visit: https://lnkd.in/gr_JMCMj. #sccountybank #communitybank #banklocal #aptos #capitola #cupertino #monterey #salinas #santacruz #scottsvalley #watsonville #siliconvalley #bankingnews #westcoastnews #messagefromtheCEO #futureofbanking #communitybanking #mergerannouncement #bankingnews

Meeting Jamie Dimon underscored the importance of fostering relationships between financial leaders and local communities. JPMorgan Chase & Co. has numerous initiatives that reflect their commitment to economic empowerment and community development in a tangible and sustainable way. Read more in the article below. #Finance #Leadership #Business #CEO #ExecutiveConversations Angela Reighard-Rand Stephanie Gostomski Carletta Clark

Did you catch our top stories from Banking+ last week? If not, here's a quick recap of everything you missed: *CFPB and DOJ Partnership: The CFPB and DOJ have announced a new partnership to tackle financial misconduct, focusing on antitrust issues and criminal conduct within the financial sector. *Cashless Board Games and Financial Literacy: Modern cashless editions of board games like Monopoly may reduce early exposure to financial literacy for children, potentially impacting their interest in the financial services industry. *Top 12 Movies with Unexpected Bank Scenes: From classics like Mary Poppins to modern hits like Minions: The Rise of Gru, we explore memorable bank scenes in films that aren't about heists. *Inside Taylor Swift’s Home: Take a tour of Taylor Swift’s historic Beverly Hills mansion, showcasing its luxurious interiors and rich history. *Ron Shevlin’s Strategies for Bank Talent Acquisition & Leadership Development: The critical importance of attracting diverse talent, fostering innovation, and driving strategic alignment. To get caught up with all of our stories from this past week, visit https://bankingplus.news/ #Bankingplus #BankingNews #TaylorSwiftHome #FinancialLiteracy #UnexpectedBankScenes

Check out this Q&A with Word in Black, where Wells Fargo's Wealth & Investment Management's Clarence Nunn shares career advice, his thoughts on diversity and inclusion, what it means to have an authentic voice, and more.

Check out this Q&A with Word in Black, where Wells Fargo's Wealth & Investment Management's Clarence Nunn shares career advice, his thoughts on diversity and inclusion, what it means to have an authentic voice, and more.

"Thrilled to have attended the Kolbe workshop this week! 🚀 It was an enlightening experience delving into my instinctive strengths and how they impact my work and personal life. Grateful for the insights gained and the opportunity to leverage this knowledge to excel in all endeavors. Huge thanks to our facilators for a dynamic and engaging session! #KolbeWorkshop #SelfDiscovery #ProfessionalDevelopment"

Check out this Q&A with Word in Black, where Wells Fargo's Wealth & Investment Management's Clarence Nunn shares career advice, his thoughts on diversity and inclusion, what it means to have an authentic voice, and more.