Tuesday, August 7, 2007

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” - Warren Buffett

Where is there fear? Banks and mortgage-related companies are certainly two areas. Like USG and the quote above, it may again be fruitful to look to the Oracle of Omaha for ideas on where to look for mispriced opportunities.

Unlike other community banks, Bank of Granite has generated profits for more than 50 consecutive years. Famed investor Warren Buffett once called it the “most profitable community bank in America,” drawing worldwide attention to the Caldwell County bank.

After Buffet’s praise, “I had calls from England, Singapore and Tokyo wanting our published financial statements, and we had to hurriedly publish some more because we didn’t have enough,” Forlines recalls

Company Profile: http://www.bankofgranite.com/company_profile.php

*This is not a recommendation to buy or sell a security. Please do your own research before making an investment decision.