Hey Reader, In today's issue:
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💎NUGGETS My Favorite Finds Learn how to read an income statement easily with Brian Feroldi (he's the best.) What we can learn from Chris Mayer turns out quite a lot: the power of reinvestment, dividends, and tuning out noise. Has ESG not lived up to its billing? Here, Aswath Damodaran critiques ESG and sustainability, urging transparency, accountability, and honesty about the costs and sacrifices required. Free Cash Flow (FCF) and FCF Yield are essential; New Constructs help us calculate accurate metrics for evaluating company profitability. Nvidia: Past, Present, and the Future (Breakdown we can all learn from.). Jeff Bezos's letters are a treasure trove of education and wisdom. If you haven't read them, do so now. 📖Knowledge Tidbits
Go out there and invest with a margin of safety, emphasis on the safety,
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Hey Reader, Warren Buffett has expressed high regard for Howard Marks' memos. He once said, "When I see memos from Howard Marks in my mail, they're the first thing I open and read. I always learn something, and that goes double for his book." In today's issue: Data-backed plan for investing in 2025 How to calculate "fair value." Howard Mark's latest memo, always a must read How to calculate ROIC and WACC, a tutorial Much more..... 💸Sponsored by: Tired of losing to the market? It's probably...
Hey Reader,Did you know Terry Smith of Fundsmith wrote "Accounting for Growth" in 1992, which exposed creative accounting practices at major companies? This led to his dismissal from UBS Phillips & Drew, where he was head of research, as some of the criticized companies were clients. In today's issue: Accounting is the language of business, but it doesn't have to be boring. 7 common mistakes in investing and how to avoid them What is the most important moat? Customer Value, surprise, read on...
Hey Reader,Did you know Peter Lynch was famous for visiting shopping malls, grocery stores, and auto dealerships to talk to everyday people about what they were buying. This “invest in what you know” approach is well known, but less publicized is how hands-on he truly was—Lynch sometimes walked the aisles incognito, taking meticulous notes on brand popularity. In today's issue: Learn how to invest in the coming year. A Charlie Munger gem of wisdom Learn how to invest when you only one hour a...