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💰10 Attributes of Great Fundamental Investors
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Hey Reader, In today's issue:
💸Sponsored by: Investing is hard. Trying to pick individual stocks takes time and effort. But what if you could find someone to do the work for you? Well.....that's exactly what Andrew does at Value Spotlight. He spends time reading the financials, listening to earnings calls, analyzing the industry, valuing companies, and considering the potential downside. All the necessary ingredients to buy individual companies. Outsource your investments and save time for the things you want to do with Value Spotlight. 💎NUGGETS My Favorite Finds 10 attributes of great fundamental investors by Michael Mauboussin. Great thread breaking down the paper; link to the paper included. Accounting Returns, Market Returns, and Good/Bad Businesses from Aswath Damodaran. Always worth the read. We can never learn enough about the capital market cycles. Mohnish Pabrai discusses "The Joys of Costco." Don't underestimate Google Search. Thomas Chua breaks down why it may be premature to write its obituary. Brooklyn Investors take on the latest Buffett lettter and more. He's one of the OGs and always worth your time. 🔍Question of the Week
📖Knowledge Tidbits
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Unlock the mysteries of the stock market with us! We break down complex topics into simple, easy-to-understand language. Join over 21,000+ readers who receive our insights every Tuesday.
Hey Reader,Did you know that the S&P 500's lowest recorded P/E ratio was 5.31 in 1917, while its highest was 123.73 in May 2009, during the financial crisis? This represents a range of over 2,200% between the most undervalued and overvalued market conditions, demonstrating how dramatically valuation perspectives have shifted across different economic eras. In today's issue: Warren Buffett breaks down how he would invest if he could start over. What is never sell really? Why ROIIC is more...
Hey Reader,Did you know Professor Damodaran constantly emphasizes that there is no single "correct" value for a company? Valuation is filled with uncertainty and bias. The goal isn't to be perfectly right, but to be "less wrong" over time. He views valuation as a craft that improves with practice, humility, and a willingness to acknowledge what you don't know. In today's issue: Aswath Damodaran covers the dark side of valuation Checklist to help evaluate management and capital allocation...
Hey Reader, Warren Buffett transformed investing by emphasizing “moats”—the lasting competitive advantages that protect great businesses. As he wrote, “The key to investing is determining the competitive advantage of any given company and, above all, the durability of that advantage.” In today's issue: How Pat Dorsey builds wealth by investing in wide moat businesses. Terry Smith on the art of compounding and investing. Morgan Housel shares some very "bad advice." Much more.... 💸Sponsored by:...