Value investing in the age of the Magnificent Seven, networks, intangibles, AI and all that
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.
investment process
Investment strategy – the best defense is a good offense
And if a person sets out to make profits from security purchases and sales, he is embarking on a business venture of his own, which must be run in accordance with accepted business principles if it is to have a chance of success.
The investment styles of three great investors: Keynes, Templeton and Buffett
A careful selection of a few investments (or a few types of investment) having regard to their cheapness in relation to their probable actual and potential intrinsic value over a period of years ahead and in relation to alternative investments at the time.
Not everything that counts can be counted
It is difficult to accept uncertainty. It is tempting to try and escape it by kidding ourselves and each other, but that is liable to land us in greater difficulties.
Investing in businesses vs investing in stocks
When investing, we view ourselves as business analysts – not as market analysts, not as macroeconomic analysts, and not even as security analysts
The tenets of companies Buffett invests in
There won’t be many seven footers out there. The vast majority of stocks don’t measure up and can be ignored.
My investment performance and how I invest my money
It is value investing pure and simple with a concentrated portfolio, but the companies must have really good growth prospects.
Concentration risk and the Magnificent Seven
The best business to own is one that over an extended period can employ large amounts of incremental capital at very high rates of return
Uncertainty is the investor’s best friend
We must be content with hunches and alternative scenarios instead of determinate predictions
Investing when others are fearful
Here were financial people who could seriously consider stocks less safe because they have declined in price
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