12-22-2014, 12:38 AM
Also started watching Google recently. The lack of a dividend doesn't really bother me. I've learned to see dividends as just one form of capital allocation, which of course is desirable and the basis of our strategy here, but not necessarily the best if management has better plans. Google management is famous for creating an environment where self-motivated employees acting with sufficient autonomy to explore daring ideas find disruptive ways to deploy capital effectively for the long term.
Since I added it to my SA watch list the other day, there has been an article arguing that the search business will continue growing rapidly and bringing in massive amounts of cash, and an article arguing that management quality has crashed, as evidenced by all the pure Android phones being out of stock on their website for months. So lots of research to do before I "buy the management" here.
Since I added it to my SA watch list the other day, there has been an article arguing that the search business will continue growing rapidly and bringing in massive amounts of cash, and an article arguing that management quality has crashed, as evidenced by all the pure Android phones being out of stock on their website for months. So lots of research to do before I "buy the management" here.