Value Investing and Life Assurance
I recently went through the process of applying for term life assurance, and it occurred to me that life assurance has several similarities to investing in value stocks. When you buy term life...
View ArticleStock Tools – Intrinsic Value
The word intrinsic comes from the latin intrinsecus meaning “inward”. In modern parlance, intrinsic means “belonging to a thing by its very nature”. The intrinsic value of a stock will thus be very...
View ArticleJust How Important Is Brand Equity?
Brand Equity is an intangible asset, but possibly one of the most important ones in value investing. Companies with strong brand equity, usually those that have been building brand equity for years via...
View ArticleGraham’s 50 Year Study – Foolproof?
In 1976, Hartman L. Butler spent an hour with Benjamin Graham and the interview is recorded within a fine study of Graham’s life published by The Financial Analysts Research Foundation. During the...
View ArticleOn Selling – Some Thoughts on When to Fold ‘Em
Much is made of stock buying strategies, but the truth is nobody makes a dime from their investments until they sell. Selling stock is easy – knowing when to sell maybe not so much. Or is it? It...
View ArticleHow to Become a Great Investor
We all want to emulate Buffett, Graham, Klarman, Ruane, Greenblatt et al. Their success as value investors is not in doubt. But how did they achieve it? I recently read several related books: “Bounce”...
View ArticleThe Miracle of Consistency in Investing
The Physicist Albert Einstein once said “The most powerful force in the universe is compound interest”. That may be true for interest bearing investments such as Treasuries, Bonds, CDs, savings...
View ArticleBenjamin Graham’s 10 Rules – Still Valid Today?
Much has been made of Benjamin Graham’s so-called “10 Rules” for selecting stocks. In his later years, having started to focus more on earnings and dividends than assets, Ben condensed his six decades...
View ArticleDo Not Fear “Mr Market”.
The recent market turmoil has many investors – and quite possibly their investments – in a spin. Several days of 400+ point swings, however, are of little concern to value investors. As Graham might...
View ArticleInterview With Mr Market
Exclusive! The Graham Investor has staged an amazing interview with Mr Market. Never before has anyone managed to interview this elusive fellow. The interview gives us a new insight into what goes on...
View ArticleEliminating the Chinese Reverse Mergers
Several people have asked me about the proliferation of Chinese Reverse Mergers (or Reverse Takeovers) appearing on the NCAV screens. For those not in the know, these are Chinese companies that have...
View ArticleJohn Maynard Keynes — Value Investor Extraordinaire
Most people are aware of the British economist John Maynard Keynes from his extensive contribution to macroeconomic theory and business cycles that have resulted in a school of thought known as...
View ArticleA Calendar, a Calendar! Look in the Almanac
“A calendar, a calendar! look in the almanac; find out moonshine, find out moonshine” - Shakespeare: A Midsummer Night’s Dream Calendar based Investing can be extremely profitable with the correct...
View ArticleWhat Are Stocks From Past Screens Doing Now?
What are stocks from the NCAV screen of a few years back trading at now? Luckily The Graham Investor keeps copies of weekly screens and can look at the “TGI Wayback Machine” in order to see how various...
View ArticleHow Good an Interpreter Are You?
“The text has disappeared under the interpretation.” ― Friedrich Nietzsche, Beyond Good or Evil In 1956, Soviet leader, Nikita Khrushchev was alleged to have said “We will bury you!” at a reception in...
View ArticleHas Your Portfolio Suffered an ACL Tear?
The nastiest injury in sports doesn’t appear to have a lot to do with investing. You probably don’t give your Anterior Cruciate Ligament much thought unless you are a football, basketball or soccer...
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