A steely eyed look at dividend investing
When we dig into it, it may not perform as well as we expect; it may carry more risks than we expect; and, there is a better way.
Part 4: Principles of Operation
Bending our core investment principles
Sometimes the investment climate calls for a somewhat unbalanced portfolio.
How I invest my money
This approach has worked
The false dichotomy between ‘value stocks’ and ‘growth stocks’
What is ‘investing’ if it is not the act of seeking value at least sufficient to justify the amount paid?
Misconceptions about Warren Buffett’s approach to investing
A high ratio of price to book value, a high price-earnings ratio, and a low dividend yield – are in no way inconsistent with a ‘value’ purchase.
Do investors need to identify and invest in future FAAMGN stocks?
Today’s FAAMGNs, that is today’s ‘vital few’, will not be the ‘vital few’ 20 years from now
Expected future returns
Today’s investor cannot tell what percentage gain in earnings, dividends and prices he may expect in the next ten years
Understanding Ben Graham’s 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.
The cornerstone of investment success
Is buying with a margin of safety really the closet practice of market timing?
The under-performance of value stocks explained
There is a lot of talk currently about the underperformance of value stocks compared with growth stocks over the last fifteen years. In fact, value investing has performed well against all other styles. This seeming contradiction comes from the fact that value investing and investing in value stocks are not the same thing.
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