Articles in the Intermediate Category
Featured, Intermediate, Investing Insights »
How much does profit does it take to recover from a loss?
Education, Intermediate, Investing Insights »
ValueHuntr has generously posted a 96 page pdf compilation of 40 papers originally written by Benjamin Graham into an easy-to-read book format. If you’re interested in long term investing and value investing then ValueHuntr’s compilation is a real treat.
Here are a few excerpts I enjoyed.
[On Efficient Markets:] I deny emphatically that because the market has all the information it needs to establish a correct price the prices it actually registers are in fact correct. … Descartes summed up the matter more than three centuries ago, when he wrote in his …
Analysis, Education, Intermediate »
I ran a screen today looking for companies with good ROE and forward earnings growth. Here are the results. I searched for 20% average two year earnings growth and ROE above 20%.
Beginners, Better Investor, Education, Intermediate »
Investing is about expectations. Look for companies where the expectations are too low. This is usually caused by pessimism, controversy, complexity or fear. This belief has been echoed over the ages and expressed in many ways by Ben Graham, Warren Buffett and other value investing luminaries. The idea is very simple, yet surprisingly hard for most investors to implement. Buy fear and sell greed!
Analysis, Better Investor, Intermediate »
M2 Telecommunications (MTU.AX) delivered strong results across their businesses in 2009-2010. With underlying EPS up 72% to 16.7cents on the back of the People Telecom acquisition and organic growth. 2011 forecasts were strong with underlying EPS targeted in the 20.7-22c range.
With the current price of $1.80 you’re buying earnings growth of 28% for a P/E multiple of 8.4, which is an appropriate multiple for a no-growth company. In others words, current buyers are getting all M2′s growth for free. Alternatively the market believes M2 is not going to grow in the future …
Featured, Intermediate, My Path »
The greatest outperformance can be achieved by buying growth stocks using a value framework.
Commentary, Education, Intermediate, SMSF »
The following article was generously contributed by a regular reader and commenter. I hope you enjoy reading West Wind’s journey as much as I did. He raises some interesting questions those considering retirement should consider.
Before starting, let me make it clear that I am not an Accountant or a Financial Adviser. This is just a tale of how one individual managed the transition from everyday share punter to contented self-funded retiree. For more intricate detail, seek professional advice.
Having started investing in shares during my student days, my early experience was …
Better Investor, Education, Featured, Intermediate, Philosophy »
Taking 3% bets on your best ideas gets you no where. Concentrate to accumulate.
Education, Intermediate »
Why should Australian’s bother investing in the USA.
- Diversity of companies. If you want to invest in tech, biotech, alternative energy or international companies then the US is the place to do so. If you want to invest in Chinese companies, then you’ll find their ADRs listed in America.
- Size. The Australian market is 2%, IIRC, of global markets. Size matters if you want exposure to the global economy.
- Because right now the Australian dollar is near to it’s all time highs and investing in the US actually decreases currency exposure rather than increases it as many people assume.
Commentary, Intermediate, Philosophy »
What have David Rosenberg and Seth Klarman got in common? Diddly squat as far as I know, except they wrote the best two things I’ve read in the last few days.
