How much does profit does it take to recover from a loss?

The following advice is offered with Matrix Composites & Engineering Limited (MCE) owners in mind, but it applies to all value investors who are holding on to fully valued companies.
I offer this unsolicited advice as I believe there are a number of new “value” investors who are sitting on substantial gains in MCE and my view is they should book those gains and move on.

Is there a margin of safety at the current level? I think not, the only way to get see a decent MoS is to use a …

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 …

Have you ever been heard how insider sales are meaningless while insiders buying can only mean one thing? The story goes that the only reason insiders buy is they expect the share price to increase while sales can be for a variety of reasons, e.g. a new house, kids college, taxes etc etc. That makes intuitive sense and I’ve often seen that story repeated, especially when an investor in nervous about insider sales.

Well it turns out that the reverse is true.

The pile of documents on my desk was out of control, so it was time for a throw out. Here’s a few of the investing and financial gems I’m throwing out, but want to keep links too.
From Grantham to Klarman on to Gross and Zweig. Articles that I can’t part with.

This excellent article exemplifies a style of fusion investing, the fusion of business momentum and value.

Concentrate to accumulate, diversify to protect.
When you diversify do it via a broad index or specific individuals, who through careful analysis you judge to be extremely competent and capable of significantly* outperforming the index.

Australian companies traditionally pay high dividends due to tax laws which make dividends attractive to investors. The following seven companies yield between 3.3% and 8.8% on trailing dividends and 5-12% based on their previous high annual dividends.

Not only is Australia yet again officially the second the best country in the world, it’s the first to raise interest rates.
See you at parity my US friends See you real soon! This raise took AUD over 88 cents. I’ve been banging on about the short USD long AUD trade for most of this year and despite the sudden rush of people late to the party I don’t see it breaking down yet.
I love this comment “Only one of 20 economists surveyed by Bloomberg News forecast today’s move. The …

I continue to up our Australian allocation as I pull back from my favoured investing destination of the US. Regularly taking your Australian potion should help with some of the common side side effects of a devaluing greenback and inflation.