80 Tips about Value

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I’m a value guy at heart, so [I] would rather buy early than late. The problem with being late is that you’re already paying for the turnaround...
An area we try to mine is busted IPOs. Buying at the IPO often means you’re buying from smart sellers, but we’d much rather buy from dumb sellers...
It’s often when companies are in the midst of change – buying or selling divisions, installing new management, reorganizing or restructuring....
We don’t have a problem with cyclicality. Wall Street still looks for certainty in areas that are uncertain. We feel good about lumpiness. We just...
The latest trade of a security creates a dangerous illusion that its market price approximates its true value. This mirage is especially dangerous...
We define intrinsic value as what a knowledgeable investor or corporate competitor would pay, in cash, for 100% of the company. From the ground up we...
Tags: value, company, income
We don’t have a discernible edge determining whether IBM’s earnings are going to beat the Street by a nickel. But there are a wide variety of...
I look at it this way: The average annual total return from equities over long periods of time has been around 10%. When you clean up the accounting,...
Tags: value, ROE, stock, return
Music to my ears is when something is considered dead money and people say, “It looks okay, but I’ll come back to it later when this or that issue...
Tags: value, money
People would disagree with me on this, but I don’t think you can sell based purely on your valuation analysis. The stock has to at least be at fair...
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