Money and Finance
From Brandes on Value:
- Investing In A High-quality Business...
From Capital Returns: Investing in a high-quality company can seem dull and unrewarding in the near-term. The lower risk which comes from investing in quality companies is only properly observed over the long-term. The fact that investors are often...
- Price And Value...
From Capital Returns:It should never be forgotten that, in its most basic form, investing is always and everywhere about price and value. Price is what you pay, says the Sage of Omaha, and value is what you get. By this definition, every serious...
- Discounts Are The Building Blocks Of Value...
From Brandes on Value: Often, it takes a great deal of conviction to stick to value investment disciplines, especially when a company’s stock price declines while you own it. For those who focus only on price, share price declines can be devastating...
- The Danger Of Having An Absolute Dividend Yield Target
I think it is possible to deliver a 4 per cent yield and to deliver dividend growth, going forward, but as I say, you must never allow an income target to dictate what you own. - Neil Woodford (UK fund manager) In this low interest rate era, the demand...
- Moats Matter For Dividend Investors
"Why Moats Matter for Equity Income" Josh Peters, Morningstar "The first thing you have to remember about dividend investing is that dividends are paid out slowly, though, relentlessly, and they really add up over time. But if you're going to actually...
Money and Finance
Charles Brandes quote
From Brandes on Value:
However, when it comes to future earnings growth, it is extremely difficult to project it with a high degree of confidence. Additionally, the farther out the prediction, the more likely it is that it’s going to be off-target. Building long-term forecasts of well-above-average earnings growth for companies is particularly questionable, as unforeseen competition will almost certainly arise to wrest away some of these hyperprofits, making such predictions very unreliable. Value investors believe that the best approach is to focus on the current state of the business: what it would be worth now to someone who wanted to buy the whole company. Not only is this more prudent, but it’s more grounded in sanity because you’re not trying to outforecast other investors.
- Investing In A High-quality Business...
From Capital Returns: Investing in a high-quality company can seem dull and unrewarding in the near-term. The lower risk which comes from investing in quality companies is only properly observed over the long-term. The fact that investors are often...
- Price And Value...
From Capital Returns:It should never be forgotten that, in its most basic form, investing is always and everywhere about price and value. Price is what you pay, says the Sage of Omaha, and value is what you get. By this definition, every serious...
- Discounts Are The Building Blocks Of Value...
From Brandes on Value: Often, it takes a great deal of conviction to stick to value investment disciplines, especially when a company’s stock price declines while you own it. For those who focus only on price, share price declines can be devastating...
- The Danger Of Having An Absolute Dividend Yield Target
I think it is possible to deliver a 4 per cent yield and to deliver dividend growth, going forward, but as I say, you must never allow an income target to dictate what you own. - Neil Woodford (UK fund manager) In this low interest rate era, the demand...
- Moats Matter For Dividend Investors
"Why Moats Matter for Equity Income" Josh Peters, Morningstar "The first thing you have to remember about dividend investing is that dividends are paid out slowly, though, relentlessly, and they really add up over time. But if you're going to actually...