Keep INVESTING Simple and Safe (KISS)
****Investment Philosophy, Strategy and various Valuation Methods****
The same forces that bring risk into investing in the stock market also make possible the large gains many investors enjoy. It’s true that the fluctuations in the market make for losses as well as gains but if you have a proven strategy and stick with it over the long term you will be a winner!****Warren Buffett: Rule No. 1 - Never lose money. Rule No. 2 - Never forget Rule No. 1.
A good business may contain one or more of the following:
High market share in principal product and/or service lines
High cash return on tangible assets
Relatively low capital requirements allowing a business to generate cash while growing
Short customer repurchase cycles and long product cycles
Unique franchise characteristics
High Cyclicality Low Cyclicality
Low Capital Intensity Media Consumer Staples
High Capital Intensity Capital Goods Utilities
Secular growth, not cyclical growth preferred.
Published on 30 Jul 2015
Drawing on his four decades of experience, Don Yacktman identifies the three key characteristics of value stocks. In this talk, he shares his investment philosophy along with the lessons he has learned from the markets and from life.
About the speaker:
Don Yacktman is Partner and Portfolio Manager of Yacktman Asset Management. He began his career at Yacktman founding the company as its President, Portfolio Manager, and Chief Investment Officer. Since founding the company Don has been awarded the 1994 “Portfolio Manager of the Year” by Mutual Fund Letter. Don has also been nominated by Morningstar as Fund Manager of the Decade in 2009, and finalist for Morningstar’s Domestic-Stock Manager of the Year award in 2011, and “Portfolio Manager of the Year” in 1991. Don holds an MBA with distinction from Harvard University.