There are only two things investors can control when it comes to investing in the public equity markets. Firstly, the price paid for the security you have decided to include in your portfolio and secondly,
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The Permanent Portfolio And Joel Greenblatt’s Big Secret
I recently wrote an article for Gurufocus.com on an asset allocation strategy called the ‘Permanent Portfolio’ (PP). For readers who don’t know, or who haven’t heard about this portfolio approach before, it was first published
Continue ReadingNegative Shareholder Equity Isn’t All That Bad After All
In many respects, the style of value investing is built around shareholder equity and book value. Benjamin Graham and David Dodd built their net-nets investment strategy on book value, with the logic that if you
Continue ReadingLosing It All Pt.4: Benjamin Graham
No series on the mistakes of the world’s greatest investors would be complete without looking at the mistakes made by the Godfather of value investing Benjamin Graham, in the early part of his career. Losing It
Continue ReadingLosing It All Pt.3
Warren Buffett is considered to be the world’s best investor. Over the course of his career, he’s achieved outstanding returns for investors (and himself) buying undervalued stocks. He’s also achieved the best investment hit rate
Continue ReadingLosing It All Pt. 1
I’ve noticed something interesting covering famous investors over the years. A large number of investors, who’ve then gone on to make enormous sums have, at some point in their careers, lost it all. It is
Continue ReadingDhando Investing
Mohnish Pabrai’s excellent book on investing The Dhandho Investor, (which I’m currently in the process or re-reading) should be required reading for all investors. This book is not a how-to investment guide, nor is it particularly focused on
Continue ReadingHow To Invest Like Charlie Munger
Charlie Munger is Warren Buffett’s right-hand man and also an accomplished investor in his own right. Warren Buffet is known as the world’s greatest investor and it can be said that Munger is the investment
Continue ReadingWarren Buffett’s 5 Most Valuable Investment Quotes
Five of the most valuable pieces of investment advice Warren Buffett has given over the years. These quotes don’t really need much of an explanation, they speak for themselves. They almost entirely sum up Buffett’s
Continue ReadingInvestment Analysis And Psychological Barriers Investors Face
Michael J. Mauboussin’s latest research report focuses on the topic of comparison. Specifically, how investors can improve their comparison process as part of investment analysis. The paper, which you can find here, presents an interesting framework
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