Money and Finance
- Mish Buys A Basket Of Miners
Gold Stock Comments NEM - Newmont Mining: My best value play and weighted accordingly. Price/book is a mere 1.19 and I have no reason to believe book value is overstated. Trailing PE is 10.04 and the dividend yield is 4.10%. What's not to like?...
- Biotech And Mining Comparison...
From the book Cracking the Code: For every success in biopharma there are at least 10 failures. In a way, the biomedicine industry is a bit like the mining industry: it’s a capital intensive industry full of thousands of small companies trying to strike...
- Greenlight Capital Re's Earnings Call Transcript
Found via Santangel’s Review. The comments below are from David Einhorn. As the market retreated over the past few months, we added to a few of our existing long positions, found a few new investment opportunities primarily in the technology and auto...
- Robert Huebscher Talks With Bruce Greenwald - Part 2
Has the way you practice value investing changed as a result of the financial crisis? We changed our focus on risk management. Many other value managers did as well, because they were blindsided. There are three principles that I believe good risk managers...
- Where To Find Differentiated Dividend Ideas
Most dividend strategies focus on larger firms with good balance sheets and a long track record of making uninterrupted and rising dividend payouts. Assuming you pay good-to-fair prices for stocks that fit these criteria, you can most certainly build...
Money and Finance
Robert Rodriguez and Dennis Bryan’s (FPA) Value Investor Insight Interview
Found via ValueWalk.
RR: For the most part we’ll go wherever the value is, but what will make something that passes our initial screens uninteresting is a chronically bad business. To give an example, gold-mining companies are showing up as quite cheap right now, but over my career I’ve watched mining companies snatch defeat from the jaws of victory with great regularity. That’s not to say we’ll never buy one, but it’s typically been a good area to avoid.
We have in recent times not been active in financials – to the detriment of our relative performance – because we perceive the risk elements to have changed. The regulatory environment is extremely fluid, to the point where there are questions about the sustainability of financial-company profits and what constitutes “normal.” That’s particularly an issue when we have such blatant manipulation of the financial thermometer called interest rates. Our concern is that unintended consequences from such manipulation can get buried into balance sheets for extended periods and will only surface at the worst possible times.
- Mish Buys A Basket Of Miners
Gold Stock Comments NEM - Newmont Mining: My best value play and weighted accordingly. Price/book is a mere 1.19 and I have no reason to believe book value is overstated. Trailing PE is 10.04 and the dividend yield is 4.10%. What's not to like?...
- Biotech And Mining Comparison...
From the book Cracking the Code: For every success in biopharma there are at least 10 failures. In a way, the biomedicine industry is a bit like the mining industry: it’s a capital intensive industry full of thousands of small companies trying to strike...
- Greenlight Capital Re's Earnings Call Transcript
Found via Santangel’s Review. The comments below are from David Einhorn. As the market retreated over the past few months, we added to a few of our existing long positions, found a few new investment opportunities primarily in the technology and auto...
- Robert Huebscher Talks With Bruce Greenwald - Part 2
Has the way you practice value investing changed as a result of the financial crisis? We changed our focus on risk management. Many other value managers did as well, because they were blindsided. There are three principles that I believe good risk managers...
- Where To Find Differentiated Dividend Ideas
Most dividend strategies focus on larger firms with good balance sheets and a long track record of making uninterrupted and rising dividend payouts. Assuming you pay good-to-fair prices for stocks that fit these criteria, you can most certainly build...