Mining and Energy
Fresh data from the Australian Bureau of Agricultural and Resource Economics (ABARE) shows exploration in the mining and energy sector reached record highs in the 2007-08 financial year.
The figures show $5.5 billion was spent scouting for new projects, with petroleum and iron ore the favourite commodities because of high global prices. read more
And hence why cycles exist. As prices and returns increase more capital floods reducing future profits. Couple that with decreasing demand and more falls are possible for mining and energy.
Still the master wave rider, Warren Buffett, …

This post is mainly for people who have not yet invested, but if you’re an old hand and what to add any links or comments I love to hear from you too.
Common sense is alive and well. I have had family and friends express an interest in starting to invest so I a summary on how to get started was in order.

THINK: Anyone who thinks now is a good time to start investing is already ahead of the game. You’re a bargain hunter and naturally synched in with Buy Low, …

I posted the following on the TMF Stock Advisor subscribers board, Stock That Interest You, on 11 July 2007. It was in reponse to a new investor asking whether to invest in BHP, because his fiance was making so much money being invested in it. The ADRs traded for $65.93 that day, three months later BHP hit a high of $85.67 before peaking at $88.88 10 months after my post. BHP ADRs closed at $35.07 on Friday. I’m posting this here for a few reasons:

The post contains some good usable …

The Value Investing Congress is on.
Check out the VIC blog.

David Nierenberg - MOVE
Leon Cooperman, Omega Advisors - Atlas America (ATLS)
Aaron Edelheit- Sable Value Management - Photo Channel Networks (PNWIF)
Jeffrey Schwarz, Metropolitan Capital Advisors - Domtar Corp (UFS) wins the prestigious Lynch most boring price.

Long Leaf Conference Call
http://www.longleafpartners.com/media%20files/100708-1.mp3
A short summary at TMF LL of the call.
Ken Heebner
Ken Heebner, of CGM Capital Growth Manager, and Ken Volpert, of the Vanguard Funds, discuss what today’s rate cut means for the markets. Contend selling can only last for days or weeks. Hedge funds being …

This advice came from Ronald Muhlenkamp the founder and president of Muhlenkamp & Company. Ron is a value focused guru who has outperformed the markets over the last 15 years.
“There are 3 things that will help you do well in the market.
* A consistent philosophy - know what you do and know that it works (there are many options here)
* Perspective - know when your philosophy works and when it won’t. Know that the market moves in cycles and that you need to be patient.
* Discipline - The first two …

The following was first posted by Dean Morel on the Motley Fool Stock Advisor board “Becoming an Investing Master” on 5th Feb 2007.
Buffett said something along the lines of it is better to be roughly right than exactly wrong. The idea behind this is you should be giving yourself large enough margin of safety that it doesn’t matter if your figures or estimates are a bit off.
Bill Mann from the Motley Fool wrote some similar thoughts on How to Be Exactly Wrong.
One way to hone your roughly right skills is …

Almost everyone knows how it only takes 21 days to make or break a habit. However, knowing something and acting on it are two completely different beasts. Sadly when it comes to learning new effective habits or breaking bad old habits too few people ever make it to 21 days. One of the reasons for this is it is often hard to stay committed on your own. If that sounds like you then have I got an offer for you.
June is the month I’m dedicating to help us become better …