Smash, dough, fiddlies, coin, tin, silver, hay, oot, shekels, ice, mazooma, bread, sponduliks, silver—cash has been known by many names over the years. No matter what you call it, cash is the second important concept to think about when you’re investing: cash flow, not just earnings. (more…)

It would be a mistake to think that all the facts that describe a particular investment are or could be known. Not only may questions remain unanswered; all the right questions may not even have been asked. Even if the present could somehow be perfectly understood, most investments are dependent on outcomes that cannot be accurately foreseen. – Seth Klarman – (more…)

AVX Corporation (NYSE: AVX) makes electrical components of all kinds. These parts regulate, filter, and store electrical energy. Essentially, they are the hidden infrastructure inside nearly every electronic device—the crucial components behind cell phones, radios, computers, and much more. Any- thing that needs electrical components could be a potential user of AVX’s broad and diverse product line, which covers over 100,000 product types. (more…)