Wed11262014

News

VTA plans for  El Camino Real prompt skepticism

VTA plans for El Camino Real prompt skepticism


Ellie Van Houtte/Town Crier
A Valley Transit Authority proposal to convert general-use right lanes on El Camino Real to bus-only use received a chilly reception last week.

A Valley Transit Authority proposal that prioritizes public transit alo...

Read more:

Loading...

Schools

MVHS students attempt Guinness World Record

MVHS students attempt Guinness World Record


Barry Tonge/Special to the Town Crier
Local residents participate in an attempt to break the Guinness World Record for making the most friendship braceletsNov. 9 at Mountain View High.

More than 300 Mountain View High School students gathered around...

Read more:

Loading...

Community

Bigger, better days ahead for Foothill Veterans Resource Center

Bigger, better days ahead for Foothill Veterans Resource Center


Student veterans at Foothill College can seek support, access resources and socialize at the Veterans Resource Center.
Ellie Van Houtte/Town Crier

Carmela Xuereb sees bigger things in store for the Foothill College Veterans Resource Center. One...

Read more:

Loading...

Comment

Serving those who served us: Editorial

“Thank you for your service” often comes across as lip service to our veterans. As always, actions speak louder than words.

The Rotary Club of Los Altos has taken plenty of action, contributing time and money to improve opportunities for veterans th...

Read more:

Loading...

Business

Report: Los Altos homes priciest in U.S.

Report: Los Altos homes priciest in U.S.


ToWn Crier File Photo
The average cost of a four-bedroom, two-bathroom home in Los Altos is 30 times more than the price of a similar home in Cleveland, according to a Coldwell Banker report.

The average cost of one Silicon Valley home can purchase ...

Read more:

Loading...

Books

Children's author signs books at Linden Tree

Children's author signs books at Linden Tree


Author Tiffany Papageorge is scheduled to sign copies of new her book 11 a.m. Dec. 6 at Linden Tree Books, 265 State St., Los Altos.

Papageorge’s “My Yellow Balloon” (Minoan Moon, 2014) is a Mom’s Choice “Gold” winner. In the book, the Los Gat...

Read more:

Loading...

People

RICHARD CAMPBELL WAUGH

RICHARD CAMPBELL WAUGH

Richard Campbell Waugh of Los Altos Hills, Ca. died at home October 31, 2014 surrounded by his family and caregivers.

Dick was born 1917, in Fayetteville, Arkansas. He earned a BS in chemistry from University of Arkansas and a PhD in organic chemi...

Read more:

Loading...

Travel

Weekday Wanderlust highlights the joys of armchair travel

Weekday Wanderlust highlights the joys of armchair travel


Dan Prothero/Special to the Town Crier
Travel writers at the October gathering of the Weekday Wanderlust group include, from left, James Nestor, Kimberley Lovato, Paul Rauber, Marcia DeSanctis and Lavinia Spalding.

Travel writing should either ̶...

Read more:

Loading...

Stepping Out

Pacific Ballet's 'Nutcracker' opens Friday in downtown Mtn. View

The Pacific Ballet Academy is back with its 24th annual production of “The Nutcracker,” scheduled this weekend in downtown Mountain View.

The story follows young Clara as she falls into a dream where her beloved nutcracker becomes the daring prince ...

Read more:

Loading...

Magazine

Christmas At Our House home tour celebrates 26 years

Christmas At Our House home tour celebrates 26 years


Courtesy of Christopher Stark
Homes on the St. Francis High School Women’s Club’s Christmas at Our House Holiday Home Tour showcase a variety of architectural styles.

The days grow short on sunshine but long on nostalgia as the holidays approach...

Read more:

Loading...

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.

Schools »

Schools
Read More

Sports »

sports
Read More

People »

people
Read More

Special Sections »

Special Sections
Read More

Photos of Los Altos

photoshelter
Browse and buy photos