Back to basics about free cash flow
Accounting is but an aid to business thinking, never a substitute for it
Disagreeing with Jeremy Grantham’s bubble call Part ll
Warren Buffett terminated his partnership, paid out his investors and went to cash. That’s the only time in his many decades of investing that he has taken such radical action.
Intangibles and a new model of capitalism
Have a good read while we are away on holiday for a few weeks
Self reliance at the heart of successful investing
If you always look to others for confirmation that you are right you will never be self-reliant.
Tapping into the wealth created by stock market investing
The vast majority of wealth creation comes from a reasonably sized cohort of successful companies. The trick is to identify these wonderful businesses.
My thoughts on second edition of The Four Pillars of Investing by William Bernstein
We think the very term ‘value investing’ is redundant. What is ‘investing’ if it is not the act of seeking value at least sufficient to justify the amount paid?
The market can be beaten
He will risk half his fortune in the stock market with less reflection than he devoted to the selection of a medium-price automobile
Buying stocks in your happy zone
If I have to bite at stuff that is out of my happy zone, I’m not a .334 hitter
An investor’s edge as the competition gets tougher
I would say there’s been a great increase in the number people doing dumb things. And they do big, dumb things.
Dollar price averaging in retirement
In good years, if not in all years, they retain a part of their profits and put them back in the business.
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