The Business of Value Investing.pdf

156 The Business of Value Investing once you engage in these intellectually stimulating problems, you’re almost guaranteed to fi ...

Practicing the Art of Patience 157 the S&P 500 dropped from 20 to 7 in those four years. By 1974, he had acknowledged sellin ...

158 The Business of Value Investing The Munger/Buffett relationship is an unusual one. Both men are fi ercely independent think ...

Practicing the Art of Patience 159 many investors begin to accelerate the investment making process, often at the expense of sou ...

160 The Business of Value Investing on the side. Value investing has nothing to do with such anomalies. When stock prices are ov ...

Practicing the Art of Patience 161 houses ’ inability to be sold as quickly as stocks, given that the same measures of safety an ...

162 The Business of Value Investing quarter or two of operating results. From all angles, investors are given data in meaningles ...

Practicing the Art of Patience 163 Many investors knowledgeable in market history will correctly argue that a simple buy - and - ...

164 The Business of Value Investing investment in health insurer UnitedHealth Group in 1998 would have been worth over $ 150,000 ...

Practicing the Art of Patience 165 two general ways in which a security can qualify as being underval- ued with respect to intri ...

166 The Business of Value Investing Table 8.1 Stated Liquidation Value of DryShips Balance Sheet Entry Value Assets $5.2 billion ...

Practicing the Art of Patience 167 prudent judgments had to be made with regard to possible market values for the ships and the ...

168 The Business of Value Investing difference is that value investors have a limit as to how much they will pay for growth. The ...

Practicing the Art of Patience 169 trades for, say, 10 times earnings and grows its profi ts by 15 percent or more a year, along ...

170 The Business of Value Investing businesses. The obvious ones that come to mind are Coca - Cola, American Express, the Washin ...

Practicing the Art of Patience 171 careful detail and analysis should be given to the annual report, which lays out the results ...

172 The Business of Value Investing of reduced valuations for the vessels. Simply assigning the stated book value of $ 49 a shar ...

9 CHAPTER Invest Significantly at the Maximum Point of Pessimism THE SIXTH ELEMENT Investors should remember that excitement and ...

174 The Business of Value Investing things to do because it requires the investor to go against the crowd psychology. It require ...

Invest Significantly at the Maximum Point of Pessimism 175 and Dodd, promoted by the success of Warren Buffett and several other ...