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Nike, Inc. Message Board

  • wags69 wags69 Mar 14, 1998 3:53 PM Flag

    Answer to Buffett Question Revealed

    No one here seems to have noticed that Berkshire Hathaway has NOT purchased a significant (>$750 Mill) position in Nike. Whether or not he has any Nike at all remains unknown. We know for sure, now, that Buffett

    1. Does NOT own 5% of Nike.
    2. Does NOT own more than $750 Million worth at year end 1997.

    For those who care, he also seems to have significantly reduced his holdings of McDonalds (by at least $800 million).

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    • Wouldn't you think that with the astronomical salaries (and lets not forget the perks) they are paying overseas they'd be able to hit their numbers? I can see it now - overseas workers take big pay cut to help with overall corporate profitability!

    • I don't have any facts about what Oakmark is doing with its Nike stock since January (apparently you don't either - just throwing out speculation, it seems.) I do know that Sanborn is well-known as a long-term investor who will ride out the short-term valleys with a good company. And his report in January made clear that he had no illusions about the short-term prospects for Nike. In short, it seems very unlikely that Oakmark would have changed course on Nike since January.

    • Find out if Oakmark is reducing its position while it is saying good things about the stock.

      Do as they do, not as they say.

    • Maurice
      I appreciate your taking the time to provide the link. This one might help you:
      target=new >http://www.dailystocks.com/

      Put in NKE in the stock symbol box and click in. That will take you to the second page. Under the catagory 'Fundamentals,
      Research and Others' click on 'Valuation, Inst.Sponsorship, Growth Stat'. That site will tell you the current numbers of institutions
      holding Nike and the percentage of the stock they hold. I would have posted a direct link but the site seems to be down right now.
      This site is invaluable for tracking how the funds are behaving in a particular stock. It seems to be updated fairly frequently
      in my experience.
      My view of NKE right now is that options held it up yesterday. Long term it does not look good, the trend for the foreseeable future looks down to me.
      Good luck
      LC

    • This board never ceases to make me laugh.

      Nice link to Oakmark. Note its dated Jan 8, 1998. He's now up 25% in under 3 months. Makes a sale of a dog all the more
      tempting. As for him saying good things, you wackos holding onto this stock will pull out any trash that is positive about this co,
      eh? I sure hope he says positive things, since he owns it. His name comes up in every news story I see as the posterboy who
      still believes, like many other idiot managers, that NKE "still can." When the market pulls back, this stock is going to get
      obliterated!

      -Romulus
      (no position in NKE, but this board is very entertaining)

    • Here is the link to the Oakmark report that I mentioned. Hit the "Oakmark Fund" link on the left of the page and it will take you right there. The discussion on Nike dominates the report and is very optimistic.
      target=new >http://www.oakmark.com/1998_q1/report.htm

      Good Luck Folks!
      Maurice

    • No-one could disagree that things look bad for Nike at the moment.

      What I am astonished at though is that the stock has not been absolutley crushed. Why is it showing such resilience in the face of no good news?

      I am an owner of shares and I have jsut been selling covered calls on my shareholding to make sure it is earning me money during this time as I am a long-term holder.

      It has taken Nike a long time to come out with the Tiger range. Let's not be too surprised if it suddenly appears when the masters is being played and Tiger wins by 10 shots. That could help the apparel division.

      Let's not forget Nike's record over a number of years and economic and sporting cycles.

      Best of luck to everyone

    • Maurice
      You could be right, I certainly would not expect all funds to sell all they hold in the company. Some may take the view that it will be a good company to be holding in five years.
      As things stand right now I intend to hold my position for a couple of months or so. I will monitor the institutional holdings during that time.
      I haven't checked the Oakmark link yet, I suspect it was written before they got a look at the latest figures. Next quarters were particularly grim. NKE might be a good bottom fishing target (mud cat fishing as a friend puts it) but I feel it is much too soon for that.
      Good luck with it either way.
      LC

    • The Oakmark fund, for one, is a big believer in Nike. They had a big write up about Nike in their latest report. I don't see them clearing out any time soon. Their turnover is low and returns are high. They love Nike at Oakmark.
      oakmark.com

    • These "watchdogs" hit Nike because they're the biggest. In fact, Nike, adidas, and Converse or Reebok share the exact same
      factory building in Vietnam. The various production lines are separated by walls and such, and they don't let the other companies'
      reps check out their lines, but they are in the same building. (The one with the lap-running incident a 7-8 months ago.) In fact,
      to have actually visited these factories, the watchers would have been confronted with this sight immediately. IN fact, the
      management of that factory is intensely proud of this fact and likes to tell people.

      Personally, I think the conditions in the factories are far worse than what anyone in the US deals with. However, they aren't as bad as some other factories in the area. And, the salaries aren't that bad, relatively speaking.

      Anyway, watchdogs have their own agendas (what are they going to do after all their complaints are answered???) and they decided to hit Nike. But, the same people who make Nike's shoes make everybody else's. So, maybe they should call Kobe on the carpet? How about Shaq? Sprewell, Rodman? (oops, already there.)

      Think about this, one company makes over 60% of the world's athletic shoes. They only have one dedicated factory taht I know of, and it hasn't opened yet. Soooo.....

      Bob

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