Money and Finance
This is from the book Capital Account and was written in 2001 during the tech bust, but it is probably timely for many technology companies today as well:
- Links
The Best Books Bill Gates read in 2015 [H/T ValueWalk] (LINK) The Two Sides of Seneca and A Lesson on Human Fallibility (LINK) The Manual of Ideas' Top 10 Interviews (LINK) Richard Thaler: "The Behavioralizing of Economics" | Talks at Google (LINK)...
- Starting With A Qualitative Search...
From The Small-Cap Advantage: How Top Endowments and Foundations Turn Small Stocks into Big Returns: Most investment processes begin with quantitative elements like filters and screens. The qualitative work is often left for the latter stages, after suitable...
- The Linkage Between Returns-on-capital And Competitive Advantage...
From The Small-Cap Advantage: How Top Endowments and Foundations Turn Small Stocks into Big Returns: The small-cap manager should attempt to understand the linkage between returns-on-capital and competitive advantage. The latter drives the former, but...
- Review Of Guy Spier's "the Education Of A Value Investor"
A quick review of Guy Spier's excellent book, The Education of a Value Investor, which I just submitted on Amazon as well.This book is about Guy's personal journey -- the good and the bad. As others have written about the book, he's extremely...
- 5 Questions To Ask Yourself Before Buying A Stock
1. What do I know about this stock that other investors don't? Every investor who has ever bought a stock believes it to be undervalued or under-appreciated by the market, but before you press the "buy" button it's absolutely critical to...
Money and Finance
The balance between an openness to new ideas and a healthy skepticism...
This is from the book Capital Account and was written in 2001 during the tech bust, but it is probably timely for many technology companies today as well:
The challenge for investors is to distinguish the genuine innovations which create sustainable competitive advantage for companies and value for shareholders from the MacGuffins of this world. This requires a balance between an openness to new ideas and a healthy scepticism. In the last few years, we have seen many new investment concepts turn out to be nothing more than flagrant promotions. Even in the more questioning times that lie ahead, an aptitude for spotting absurdities in the stock market -- the financial equivalent of devices for trapping lions in Scotland -- remains an invaluable component in the fund manager's tool-kit.
- Links
The Best Books Bill Gates read in 2015 [H/T ValueWalk] (LINK) The Two Sides of Seneca and A Lesson on Human Fallibility (LINK) The Manual of Ideas' Top 10 Interviews (LINK) Richard Thaler: "The Behavioralizing of Economics" | Talks at Google (LINK)...
- Starting With A Qualitative Search...
From The Small-Cap Advantage: How Top Endowments and Foundations Turn Small Stocks into Big Returns: Most investment processes begin with quantitative elements like filters and screens. The qualitative work is often left for the latter stages, after suitable...
- The Linkage Between Returns-on-capital And Competitive Advantage...
From The Small-Cap Advantage: How Top Endowments and Foundations Turn Small Stocks into Big Returns: The small-cap manager should attempt to understand the linkage between returns-on-capital and competitive advantage. The latter drives the former, but...
- Review Of Guy Spier's "the Education Of A Value Investor"
A quick review of Guy Spier's excellent book, The Education of a Value Investor, which I just submitted on Amazon as well.This book is about Guy's personal journey -- the good and the bad. As others have written about the book, he's extremely...
- 5 Questions To Ask Yourself Before Buying A Stock
1. What do I know about this stock that other investors don't? Every investor who has ever bought a stock believes it to be undervalued or under-appreciated by the market, but before you press the "buy" button it's absolutely critical to...