Hey Reader, Charlie Munger viewed market swings as opportunities, not threats. He dismissed volatility as risk, instead focusing on business quality and maintaining emotional discipline during market swings. He once said, "we don't give a damn about lumpy results." 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 what you want to do with Value Spotlight. 💎NUGGETS My Favorite Finds 🎥 Warren Buffet and Charlie Munger on Risk and Volatility. Keep calm and carry on. 🎥 Howard Mark's views on credit yields and Trump tariffs. Always worth our time. 📖 What is the strongest moat? Arguably, scaled economies shared. Learn why Nick Sleep thinks so. 📖 Important lesson to learn, how not to invest. 📖 What would Ben Graham do in today's market from Vitaliy Katsenelson. 📖 Learn the differences between a moat and durability. 🔍Question of the Week
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Hey Reader,Did you know that Buffett's initial American Express investment returned 124% in just 2.5 years - While the broader market (Dow Jones) declined by 6% during the same period, Buffett's contrarian bet paid off dramatically by 1967 when the stock more than doubled from his average purchase price of $41.22 to $92.50. In today's issue: Brian Stoffel breaks down how to read the cash flow statement. Warren Buffett's thoughts on tariffs and trade from 2003. Pricing and peer groups from...
Hey Reader,Did you know the cash flow statement didn't become a requirement until 1987? Before 1987, Companies were not required to prepare one. Instead, they often included a "funds flow statement" or "statement of changes in financial position," which focused on working capital changes rather than actual cash movements. In today's issue: Aswath Damodaran takes us back to the basics of free cash flow Brian Feroldi breaks down the cash flow statement, the base for all free cash flow...
Hey Reader,Did you know Peter Lynch's interest in the stock market began as a young caddy at Brae Burn Country Club? He would listen to executives discuss stocks while caddying, sparking his curiosity and eventual career in finance. In today's issue: Learn how to read financial statements in 9 minutes. It's easier than you think. One of Buffett's maxims is buying a company for a fair price. Let's learn how he does it. Learn why Charlie Munger liked quality over cheap price. Using ratios to...