Sat04252015

News

LAH resident killed in cycling accident

LAH resident killed in cycling accident

A longtime Los Altos Hills resident and philanthropist struck by a bicyclist Monday (April 20) while walking along Page Mill Road has died from the injuries she sustained.

Kathryn Green, 61, died a day after the accident, according to the Santa Clar...

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Schools

LASD Junior Olympics scheduled Saturday

LASD Junior Olympics scheduled Saturday


Town Crier File Photo
The Los Altos School District Junior Olympics are slated Saturday at Mountain View High School. District officials say the opening ceremonies, above, are always memorable.

Los Altos School District fourth- through sixth-grader...

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Community

Altruism, adventure in Africa: Los Altos couple relates experiences in new book

Altruism, adventure in Africa: Los Altos couple relates experiences in new book


Courtesy of Wendy Walleigh
Rick and Wendy Walleigh spent a year and a half in Swaziland and Kenya.

Los Altos residents Rick and Wendy Walleigh experienced long, successful high-tech careers. But retirement? No, it was time for an encore.

Leavin...

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Sports

Workout warriors

Workout warriors


Megan V. Winslow/Town Crier
Los Altos High gymnast Jessica Nelson soars by coach Youlee Lee during practice last week. Lee is a 2005 Los Altos High grad.

Some coaches would like to see their athletes work harder. Youlee Lee has the opposite problem ...

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Comment

Ending the debate: No Shoes, Please

In a general sense, everything is up for debate with me: What do I cook for dinner? Did I do the right thing? What color paint for the bedroom? Do I really want to go? Has the team improved? What difference does it make? Should I give him a call? Is...

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Special Sections

Fitness focus: No holds barred for Los Altos sisters

Fitness focus: No holds barred for Los Altos sisters


Photos Courtesy of Barre 3
Gillian Brotherson, kneeling at left, guides studio instructors through a workout at barre3 Los Altos.

Health is all about balance. That’s what two Los Altos natives learned as they navigated work, motherhood and welln...

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Business

Physical therapist brings business background to new Los Altos clinic

Physical therapist brings business background to new Los Altos clinic

Courtesy of Eliza Snow
Strive owner Robert Abrams, kneeling, runs a balance test.

With more than a dozen physical therapy clinics in Los Altos, one new business owner streamlined his approach in an effort to set his practice apart.

“I always wan...

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Books

People

CAPTAIN: CHARLES THOMAS MINOR

CAPTAIN: CHARLES THOMAS MINOR

Age 96

December 7, 1918  - March 28, 2015 

Chuck passed away peacefully in the home he built in Los Altos surrounded by his beautiful wife of 69 years, Bonnie, his two sons and their spouses, David Minor & Caryn Joe Pulliam; Steve &...

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Travel

Cuba libre: Local residents join mad rush of travelers

Cuba libre: Local residents join mad rush of travelers


Natalie Elefant/Special to the Town Crier
Los Altos resident Natalie Elefant noted the vibrant street performances as a traveler in Cuba.

The U.S. restored diplomatic relations with Cuba late last year, enabling Americans to import $100 worth of cig...

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Stepping Out

Stage fright

Stage fright


Joyce Goldschmid/Special to the Town Crier
“The Addams Family” stars, from left, Betsy Kruse Craig (as Morticia), Joey McDaniel (Uncle Fester) and Doug Santana (Gomez).

The Palo Alto Players production of “The Addams Family”...

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Spiritual Life

Magazine

Food for thought: Hidden Villa programs offer teens training in sustainability on the farm

Food for thought: Hidden Villa programs offer teens training in sustainability on the farm


/Town Crier It’s not all cute and cuddly for teens participating in the eight-week Animal Husbandry Apprenticeship program at Hidden Villa in Los Altos Hills. Mia Mosing of Palo Alto, left, and Sophia Jackson of Los Altos clean the pigpens – one of...

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Inside Mountain View

Up to the challenge: Local leaders unite to help at-risk youth

Up to the challenge: Local leaders unite to help at-risk youth


Courtesy of Challenge Team
Jeanette Freiberg, bottom of pile, has fun with family members. The Challenge Team named Freiberg, a student at Mountain View High School, its 2015 Youth Champion.

There’s an ongoing joke among members of the Challenge...

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Stock Report

The view from Omaha - Warren Buffett style

With the Dow Jones industrial and the Nasdaq composite experiencing huge daily volatility, this column will attempt to explain the philosophy of Warren Buffett and his investor theory on stock valuation.

Berkshire Hathaway's annual report arrived at the house the other day. What Warren Buffett has to say about the current stock market and its valuation is interesting.

Despite the carnage in the market over the past several months, Buffett feels the long-term prospect for equities is "far from exciting." Even his own holdings are mildly attractive and fully priced.

Berkshire's holdings consist of more than $1 billion in each of the following stocks: American Express, Coca-Cola, Gillette, Washington Post and Wells Fargo. (Note: no high-tech equities in his portfolio.)

The per share book value of Berkshire Hathaway outpaced the performance of the S&P 500 in 2000, and the book value has increased from $19 to $40,442 over the years.

Buffett has not invested in high-tech industry because the valuation is not there. Dividend yield, price-earnings ratios, and growth rates have nothing to do with valuation except in providing clues to the timing and amount of cash flow.

Buffett points out that for all the talk of "creating value" during the Internet boom, much of the activity was just transferring value on a massive scale. "By shameless merchandising, promoters moved billions of dollars from the pockets of the public to their own purses and now the company value is in shambles."

Buffett, even before the bubble collapsed, pointed out how silly valuations were becoming. However, most investors, deep down, probably knew this as well, but couldn't force themselves to leave the party. The unrealistic expectation - the apex of greed - should have been a clear sign of trouble.

After being scorned by investors as a doddering old-timer who didn't understand the new investing paradigm, Warren Buffett has reclaimed his title of "Investing Legend."

He regards a strong cash flow, a dominant market share and a superb return on equity as being vital. He cautions investors to ignore the daily - even month ly - price blips of a stock and try to determine if management is building value for the long haul. Finally, he urges investors to seek top-quality management and pay attention to the price of the stock.

As a suggestion, Buffett should look at Washington Mutual because it meets his criteria. Originally Palo Alto Savings and Loan, then Northern California Savings, Great Western Savings and now, the company is Washington Mutual (WM).

WM, the nation's largest savings-and-loan institution and the second-largest mortgage originator, has a branch office at Third and Main streets in Los Altos.

Each time the Federal Reserve lowers interest rates, mortgage rates fall leading to refinancing activity. Two-thirds of WM's revenue is generated from the net interest margin.

Priced at 52 with a 2.53 percent yield, WM is attractively priced for purchase and unless the California real estate market collapses, is a defensive equity most investors could like.

Noel, a seasoned investor, covers the stock market for the Town Crier.

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