Nuggets of Investing Wisdom

Nuggets of Investing Wisdom

A website for serious investors in common stocks

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Author: Rodney Smith

An all bank portfolio, ETFs and mistaken notions of diversification and balance

  • by Rodney Smith
  • Posted on November 1, 2020January 12, 2021
  • Part 7: Building and Managing a Portfolio

As the play, The Merchant of Venice, unfolds, all of Antonio’s ships sink, his business collapses and Shylock demands his pound of flesh.

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Active investing is the only way to superior returns

  • by Rodney Smith
  • Posted on October 25, 2020October 26, 2020
  • Part 1: The Field of Play

A small percent change in total returns achieved both before and after retirement can make a huge difference in your standard of living after retirement

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The rise of passive investing and opportunities for active investors

  • by Rodney Smith
  • Posted on October 18, 2020October 19, 2020
  • Part 1: The Field of Play

The rise of passive investing and systematic investing may lead to greater stock market inefficiency. It will have little negative impact on active investors.

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Does Wisdom of Crowds apply to earnings estimates, price targets, value estimates and stock prices?

  • by Rodney Smith
  • Posted on October 11, 2020January 14, 2021
  • Part 2: Human Foibles and Investment Decision Making

The behavioral tail can wag the statistical dog

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Understanding Ben Graham’s Principles of Operation

  • by Rodney Smith
  • Posted on October 4, 2020November 12, 2020
  • Part 4: Principles of Operation

The various Principles of Operation that follow are not things I have dreamed up. They are frequently quotes or exact formulations or wording from Benjamin Graham, Warren Buffett, John Templeton, Philip Fisher, Peter Lynch, John Neff, Maynard Keynes and others.

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Analysts’ reports and the estimate revision game

  • by Rodney Smith
  • Posted on September 27, 2020September 27, 2020
  • Part 7: Building and Managing a Portfolio

Even with overly optimistic earnings estimates companies regularly ‘beat’ the estimates. What gives?

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The personal qualities successful investors need to cultivate

  • by Rodney Smith
  • Posted on September 20, 2020September 20, 2020
  • Part 3: Thoughts for the Individual Investor

What mattered most was confidence in one’s own judgment, from which would flow the Kiplingesque cool to keep one’s head ‘when all about you are losing theirs’

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What you need to know about bubbles

  • by Rodney Smith
  • Posted on September 13, 2020October 24, 2020
  • Part 5: Asset Management

I am not attuned to this market environment, and I don’t want to spoil a decent record by trying to play a game I don’t understand just so I can go out a hero.

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Do optimists make better or worse investors?

  • by Rodney Smith
  • Posted on September 6, 2020September 6, 2020
  • Part 3: Thoughts for the Individual Investor

The main benefit of optimism is resilience in the face of setbacks

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The pitfalls of a sector rotation strategy

  • by Rodney Smith
  • Posted on August 30, 2020August 30, 2020
  • Part 7: Building and Managing a Portfolio

Investing based essentially on the business cycle outlook is a fools’ game.

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