Commentator Provides Insight on Warren Buffett’s Annual Shareholder Letter
Earlier this year, in February, CNBC Commentator and Chairman of Capital Group, Tim Armour commented on information contained in an annual shareholder letter written by Warren Buffett. In the correspondence, Buffett stated he wagered $1 million to a charity and expects a higher investment turn compared to hedge fund management groups. He invested into a S&P 500 passive index fund and simple long-term investments while keeping cost low. Armour is supportive of his long term investing strategy and acknowledges his decades of experience in the investment management industry. He gives insight and facts on index funds and says a group of fund managers have outpaced benchmark indexes consistently.
Tim Armour said, in the February 27th commentary that Warren Buffett proves his investment strategy is efficient and works for him. Only time will reveal if his $1 charity wager will be successful. They both share similar opinions on mutual funds and its high management costs and low returns. Armour provides his perspective and experience on passive index investments, noting its volatility risks and overall cost. He believes what should be considered is delivering long-term investment returns and low cost.
Tim Armour is Managing Partner and Chairman of Capital Group, a leading global investment firm specializing in long-term investments. He accepted the Chairman seat, in July 2015, after the passing of former Chairman Jim Rothenberg. Capital Group is one of the world’s largest hedge fund management firms, managing more than $1 trillion in assets. Armour joined the firm in 1983, starting as an intern and eventually moving up to managing partner, and Chairman of the Board. Tim has built a successful career with a financial servicing firm founded in the early 1930’s by Jonathan Bell Dovelace, in Los Angeles, CA.
The year 1960 saw the birth of one hero by the name Vijay Eswaran. He was born in Penang. Because of his father’s nature of work with the Malaysian ministry of labor, the family moved to different parts of Malaysia. All this happened at Vijay Eswaran’s tender age. Eswaran was enrolled at the London school of Economics and pursued a degree in economics in the year 1984.He later extended his stay in Europe as he did odd jobs to start off living. Such odd jobs included working at a construction site based in Belgium. He also plucked grapes in France as well as driving taxicabs in London. Eswaran acquired a proficient qualification from CIMA in the UK after he was inducted into binary system marketing. After this qualification, Eswaran advanced further by attending the Southern Illinois University where he attained his NBA in the year 1986. This saw him engage in multilevel marketing on a part-time contract. During this time, he was also involved with Synaptic Company based in the US. He later went back to Malaysia where he received an invitation by the Cosway Organization to begin its Philippines business.
On returning to Asia back in 1998, Eswaran co- founded a multilevel marketing organization called Q1. Since that time, the company has grown to be very famous across the entire world. Q1 is a popular e-commerce based multinational firm. The company’s dealings include Traveling, media, telecommunication among many others. Under the leadership of Eswaran, Q1 has considerably expanded its ridges and now has offices in Hong Kong, Singapore, Thailand as well as Malaysia.
Apart from leadership skills alongside vast experience, Vijay Eswaran has other skills as well. He is an eloquent speaker, and this has seen him speak to envoys at very major business forums example the 6th PravasiBharatiya. He is also a well-known author, and this saw his first book published in the year 2005. The book expounds on his private life management style and his day to day routine. Eswaran’s second book known as in the thinking zone was published in the year 2008.This gave a pathway to his third book that was released in the year 2010. Eswaran released his latest book in the year 2016 after releasing a collection of his photography in 2011.
It’s coming out. The veil is being lifted on the philanthropic work of Dick Devos, husband of Secretary of Education Betsy Devos. It’s being revealed that they gave one hundred and thirty nine million dollars to charity. So we’re now getting an inside look into what this is all about.
In the year 2015 alone, both Betsy and Dick Devos donated over eleven million dollars to charity, according to a new report on their website that is associated with their family foundation. This is more than double of all the political contributions she gave not over one year, but over half a decade. Dick Devos’ father, Rich Devos, was the founder of Amway and is also known as a great philanthropist. In fact, Rich and his four children, including Dick, all together gave over one hundred and four million dollars to charity in the year 2015 alone, making them gain a high spot on the Forbes list of the Top Givers. All together over their lifetimes, they gave over one and a third billion dollars to charity, which is around a quarter of their estimated fortune.
Why do they give so much charity? It shows their dedication to causes such as education. In fact, in 2015, three million dollars went to charities that help promote education. This is around a quarter of all their charitable donations. Dick Devos said that shows how much he and Betsy care about the education system in our country. There are many issues that need to be fixed, which is why he and she are so dedicated to fixing it, so that all children can get a good education. Instead of a one size fits all public school system, which does not in fact work, because one size does not fit all, they help promote school choice, so that children can attend schools where they are comfortable and where they will truly succeed. It also helps parents send their children to schools where the parents feel the children will flourish best.
Most of the education beneficiaries were in Michigan, the home states of Betsy and Dick DeVos. In 2013, Compass College of Cinematic Arts in Grand Rapids got fifty thousand dollars. The Ferris State University in Big Rapids got one hundred thousand dollars. Northwood University in Midland got two hundred thousand dollars. West Michigan Aviation Academy got three hundred and fifteen thousand dollars. There were many other education institutions that got dozens of thousands of dollars.
Anthony G. Petrello joined Nabor Industries limited in 1991. Over the years, he has served in different positions in the company. When he joined the company, he was part of the Board of Directors. He has also worked in the company as the chief operating officer and president for 20 years since 1991. In 2003 he became the deputy chairman of the company. Tony, as he is also called, has also been the chairperson of the board since 2012. Throughout his working at Nabor Industries, he has been instrumental in providing strategic leadership. This has made the company compete effectively in the market through the process of adapting dynamism and progressive initiatives.
Tony Petrello joined Nabors with a bunch of experience from different companies such as Baker & McKenzie and Stewart & Stevenson LLC. Today, he also serves on the Board of Trustees for Children’s Hospital in Texas. Over the years, he has also been highly passionate about the different research programs which are geared towards addressing neurological disorders. The diverse experience has made him to be a perfect chief executive officer who is able to develop the right strategies to impact the world. In his position as the chief executive officer of the contract driller company. Tony has been able to fast-track the acquisitions, which has led to the growth and development of the oil-field service company.
When Tony Petrello joined the company, he was able to work hand in hand with the predecessor in order to take the company to another level. This was after they strategized on how to cut federal tax. Since he assumed office in 2011, the share price of the company has improved up to 180%. This is a great performance considering the company will now be able to give more returns to the shareholders and increase its net profit. Tony Petrello attended Yale University where he earned a degree in Mathematics. He also attended Harvard Law School where he earned a J.D degree. The skills and experience make him to be one of the best professionals in the industry. He is thus well placed to take the Nabor Industries to the next level.