Nuggets of Investing Wisdom

Nuggets of Investing Wisdom

A website for serious investors in common stocks

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How Warren Buffett was influenced by Philip Fisher

  • by Rodney Smith
  • Posted on March 19, 2023March 21, 2023
  • Part 4: Principles of Operation

If the job has been correctly done when a common stock is purchased, the time to sell it is – almost never

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How Warren Buffett’s approach diverged from Ben Graham

  • by Rodney Smith
  • Posted on March 12, 2023March 19, 2023
  • Part 4: Principles of Operation

Buffett analyzed companies more subjectively than Graham, and he found intrinsic value in companies, such as See’s Candies, that Graham would not have touched.

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The Achilles heel of the quantitative analysis of stocks

  • by Rodney Smith
  • Posted on March 6, 2023March 6, 2023
  • Part 7: Building and Managing a Portfolio

Something that knocks the pins out from our normal understanding of price earnings ratios, return on invested capital, discounted cash flow analysis, smart beta/factor ETFs, value at risk models (VAR) and even company financial statements

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A collection of the best

  • by Rodney Smith
  • Posted on February 5, 2023February 5, 2023
  • Part 4: Principles of Operation

I’ve included a short list of some favorite earlier posts

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KISS, diversification and balance

  • by Rodney Smith
  • Posted on January 29, 2023January 29, 2023
  • Part 7: Building and Managing a Portfolio

Mathematical models that show price correlation will give precise answers but aren’t useful

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Watchlists can be a waste of time

  • by Rodney Smith
  • Posted on January 22, 2023January 23, 2023
  • Part 7: Building and Managing a Portfolio

But I am not building up a baseball bullpen of game-ready companies

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Buffett’s concept of economic goodwill vs accounting goodwill

  • by Rodney Smith
  • Posted on January 15, 2023January 15, 2023
  • Part 6: The Hallmarks of Superb Businesses

Sunkenness – intangible investments tend to be worth less if they go wrong

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Fifty years – Beaten the market

  • by Rodney Smith
  • Posted on January 8, 2023January 23, 2023
  • Part 7: Building and Managing a Portfolio

It’s amazing that 2% makes such a big difference

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A business plan that depends on leverage

  • by Rodney Smith
  • Posted on January 1, 2023January 1, 2023
  • Part 6: The Hallmarks of Superb Businesses

Mortgages on income properties will permanently reset to a higher level

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Investing in a permacrisis

  • by Rodney Smith
  • Posted on December 27, 2022December 27, 2022
  • Part 1: The Field of Play

The prophets of doom have overlooked the all-important factor

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