80 Tips about Value

1 2 3 4 ... 6 7 8
Once we understand the business and where we think it’s going, we’ll estimate the sustainable free cash flow the company can generate – net...
I look for companies that may be losing a bit of money, break-even or even a bit negative cash flow, but where two to three years out you can get $1...
We find opportunity in looking at the different values ascribed to different asset classes. If the debt markets would provide 100% financing of a...
We look back as far as possible to inform what would be the worst-case levels of revenues and margins, and then apply what we think are trough...
If you’re looking, as we are, for extraordinary returns – from companies whose stocks can go up 10x rather than 2x – it’s far more likely to...
We’re looking for businesses whose shares are trading at a 40% or more discount from our assessment of their private market value. To avoid value...
Given the way we invest, we will fall into value traps from time to time. In general, we try to constantly remind ourselves that when an industry goes...
We don’t benchmark at all. I don’t care if we own almost no financials and I don’t care if we own an excess amount of energy. We’ll go where...
Tags: risk, benchmark, value
Value investors should completely exit a security by the time it reaches full value; owning overvalued securities is the realm of speculators.
Borrowing from Warren Buffett, as we so often do, we see growth and value as all part of the same equation – to separate them strikes us as kind of...
Tags: value, growth
1 2 3 4 ... 6 7 8