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Legendary value investors' secrets

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October 4, 2022

Archives for November 2014

Warren Buffett looks for enduring moat

Warren Buffett: “A truly great business must have an enduring ‘moat’ that protects excellent returns on invested capital.” Mr Buffett said this in his letter to Berkshire shareholders (February 2008) for Year 2007. Illustrating on this ‘moat’ concept, Mr Buffett said: “The dynamics of capitalism guarantee that competitors will repeatedly assault any business ‘castle’ that is

How Warren Buffett Does It

How Warren Buffett Does It Choose simplicity over complexity; Make your own investment decisions; Maintain proper temperament; Be patient; Buy businesses, not stocks; Concentrate your stock investments; View market downturns as buying opportunities; Take a close look at management; Practice independent thinking; Stay within your circle of competence; Understand Mr Market and the Margin of Safety;

America’s best days lie ahead

This line came from Berkshire Hathaway chairman Warren Buffett in his annual letter (26 February 2011) to shareholders for Year 2010. To the prophets of doom, Warren Buffett has this to say: “The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for

Buying a stock: do your homework

“One person’s hot growth stock is another’s disaster waiting to happen,” said Pat Dorsey, author of “The Five Rules For Successful Stock Investing: Morningstar’s Guide to Building Wealth and Winning in the Market”. “For one thing, you’re putting your money at risk, so you should know what you’re buying,” Pat Dorsey said. His advice? “…you

Who is Benjamin Graham?

Benjamin Graham (May 8, 1894 – September 21, 1976) is the father of value investing, an investment approach that he began teaching at Columbia Business School in 1928. The British-born American professional investor was well-known for his book Security Analysis which was published in 1934. Together with co-author David Dodd, he refined his investment approach

Measuring profit performance

In his 1977 letter to Berkshire Hathaway shareholders, Warren Buffett said that “most companies define ‘record’ earnings as a new high in earnings per share”. This measure is not appropriate in Mr Buffett’s views. “Since businesses customarily add from year to year to their equity base, we find nothing particularly noteworthy in a management performance combining,

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