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A Steel Producer with a Wonderful Track Record - Trading for Half Price

October 22, 2014 – Comments (0) | RELATED TICKERS: GGB , PKX

About 6 months ago, I finally got around to reading the Dhandho Investor, written by Mohnish Pabrai.  While the book taught me several very important lessons for compounding a portfolio via value investing, two points that stood out were 1) invest in distressed industries (or companies) to yield wonderful returns and 2) don’t be afraid to clone.    [more]

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My [attempted] unbiased assessment of IBM

October 20, 2014 – Comments (8) | RELATED TICKERS: IBM , ACN , CTSH

I think one of the most important things an investor can do is to critique their own investments.  As I have personally found out with many of my own investments, I can (unfortunately) get attached to a stock I own and try to justify my ownership even when the writing is on the wall.  Knowing this about myself, it’s important to at least make an attempt to rationalize why I own a particular stock, and do my best to ignore the psychological factors.  Presenting a strong critique, or more bluntly, playing devil’s advocate, can help me decide whether I should stick with an investment or not.  Sometimes it can help me unload an investment mistake (though sometimes it can simply leave me with a headache).  [more]

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Predictions

October 14, 2014 – Comments (2) | RELATED TICKERS: WFC

I frequently read articles citing the folly associated with trying to make predictions and forecasts.  Most of the time, the criticism with predictions is regarding macro events, such as commodity price movements, broad-based economic shifts, or larger stock market changes.  However, I can't help but think: making individual stock selections also requires predictions - they just happen to be on a smaller scale.  [more]

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Taking a step back and look at Tesco from a rational perspective.

September 29, 2014 – Comments (13) | RELATED TICKERS: TSCDY

When fear is at an all-time high and valuation is at an all-time low - it’s during these uncertain times when a value investor shows off their real chops and makes the difficult decisions necessary to beat the market.  [more]

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Taking Howard Marks' advice to heart

September 15, 2014 – Comments (4) | RELATED TICKERS: MNST

Any investor who truly cares about the preservation of capital - that is, fully attempting to balance financial risk with accumulation of financial wealth - should read The Most Important Thing Illuminated.  With this book, we have one of the best risk/reward investors, with decades of experience under his belt, providing a qualitative template for avoiding wealth destroying activities.  All in one, little book.  [more]

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