Nuggets of Investing Wisdom

Nuggets of Investing Wisdom

A website for serious investors in common stocks

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Part 6: The Hallmarks of Superb Businesses

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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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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Negative free cash flow can be desirable

  • by Rodney Smith
  • Posted on July 24, 2022July 24, 2022
  • Part 6: The Hallmarks of Superb Businesses

Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes

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Profound errors in interpreting and using ROE and ROC

  • by Rodney Smith
  • Posted on May 30, 2022May 31, 2022
  • Part 6: The Hallmarks of Superb Businesses

I find it better to analyze a company’s cash flows, maintenance capex, growth capex and free cash flow in real dollar terms and measure them against the true value of the capital management has use of

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The emergence of a new model of capitalism

  • by Rodney Smith
  • Posted on December 26, 2021December 26, 2021
  • Part 6: The Hallmarks of Superb Businesses

The first step for investors is to come to a new understanding of reported earnings and the book value of equity.

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Dual-class shares –good or bad for investors?

  • by Rodney Smith
  • Posted on October 30, 2021October 30, 2021
  • Part 6: The Hallmarks of Superb Businesses

I can vote with my feet.

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The danger of investing in companies in an oligopoly

  • by Rodney Smith
  • Posted on July 18, 2021July 19, 2021
  • Part 6: The Hallmarks of Superb Businesses

A slowdown in business dynamism means that entrenched firms have less to fear from upstarts

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Which is better: top down or bottom up investing?

  • by Rodney Smith
  • Posted on June 27, 2021June 27, 2021
  • Part 6: The Hallmarks of Superb Businesses

Many investors have lost money trying to tie their fortunes to a trend such as demographics and an aging population.

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The Hullabaloo about Dividends

  • by Rodney Smith
  • Posted on May 16, 2021June 14, 2021
  • Part 6: The Hallmarks of Superb Businesses

You should wish your earnings to be reinvested if they can be expected to earn high returns

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The best approach to choosing common stocks

  • by Rodney Smith
  • Posted on April 18, 2021April 21, 2021
  • Part 6: The Hallmarks of Superb Businesses

“If you can look into the seeds of time,
And say which grain will grow and which will not,
Speak then to me.”

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