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Showing posts with label Bruce Greenwald. Show all posts
Showing posts with label Bruce Greenwald. Show all posts
Thursday, 9 October 2014

Essentials of Value Investing

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The Intelligent Investor by Benjamin Graham and Greenwald’s Book: Value Investing from Graham to Buffett and Beyond. Class Case Studies ...

Why Value Investing works. Buying cheaply works.

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WHY VALUE INVESTING WORKS Markets are not Efficient All you should worry about since you aren’t going to be able to outguess the market i...

Value Investing in Practice: Search strategy, Valuation strategy and Patience

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Value Investing in Practice Long-term - Fundamental (look at underlying business) (1) Look intelligently for value opportunities (Low P/...

OPPORTUNITIES IN VALUE INVESTING

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OPPORTUNITIES IN VALUE INVESTING 1.  Prices and Intrinsic Values Regularly Diverge If prices are fluctuating a lot and you think fundam...

Where do you always want to start a valuation?

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STARTING A VALUATION  Asset Valuation  Where do you always want to start a valuation?  You want to start with assets.  Why?  Because the...

Asset value (AV) and Earnings power value (EPV). Know the 3 scenarios - AV > EPV, AV = EPV and AV < EPV

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What you have got then is two pictures of value:  1. You have got an asset value  2. You have got an earnings power value   And now you...

Two pictures of value: An asset value and an earnings power value.

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Mechanically Doing a Valuation  1.  Doing an asset valuation Now, doing an asset valuation is just a matter of working down the balance s...

Look at growth from the perspective of investment required to support the growth. Profitable Growth Occurs Only Within a Franchise.

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Summary  Now to summarize about growth: growth at a competitive disadvantage destroys value, growth on a level playing field neither...
Wednesday, 8 October 2014

Value Investing Process by Prof Bruce Greenwald

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Greenwald Value Investing Class on February 12, 2008  Retail stocks are in the tank so investors may be unreflectively selling. You will fi...

Introduction to a Value Investing Process by Bruce Greenblatt at the Value Investing Class Columbia Business School

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When you are considering buying growth stocks:   1.  Verify the existence of a franchise 2.  Earnings return is 1/P/E. 3.  Identify...

Calculating investment returns from growth stocks - returns from dividends and share buybacks, returns from retained earnings (reinvestment by the company) and returns from organic growth.

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The calculation in the short run is not that hard to do. 1.  First you have to know where the money is going. Is WMT expanding in Mexico...

Growth creates value only when the company has a competitive advantage. If there were no barriers to entry, then gains would be get competed away by additional competitors.

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Why don’t returns get bid away by entrants whose store economics have improved?  That is where the existence of a franchise is crucial. I...
Tuesday, 7 October 2014

Value Investing in Practice

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Value Investing in Practice Long-term - Fundamental (look at underlying busines...
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Saturday, 4 October 2014

Greenwald Lecture at Gabelli Value Investing Conference

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Published on 16 Jun 2014 Professor Bruce Greenwald lecture at Gabelli Value Investing Conference at Princess Gate, Lond...
Wednesday, 16 October 2013

Bruce Greenwald Interview (Full Version)

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Saturday, 17 August 2013

The most succinct description of value investing

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"The value investor seeks to purchase a security at a bargain price, the proverbial dollar for 50 cents."  Of course, there is c...
Thursday, 7 February 2013

Bruce Greenwald on Value Investing

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Do not miss his comments @ 9 minutes on Buffett's buying of Washington Post in Summer of 1972.  The share price of Washington Post dr...