Hi,
I hope you’re well and that you’ve managed to remain calm even in the face of a Spanish default. Perhaps the falling markets will serve up some new bargains, although as I type the FTSE 100 has jumped from 5,600 to 5,700. It looks like you have to be quick to time the markets!
Please find below the usual collection of posts, links and more:
New blog posts
Haynes Publishing – on the road to nowhere?
This week’s small-cap stock report is on Haynes Publishing, which has net cash and is priced quite cheaply relative to dividends, earnings and equity. Despite the negative title I actually like the stock and have added it to the small-cap portfolio:
3 ways to find a margin of safety
Something that comes up a lot for new value investors is the concept of a margin of safety. Most people when they’re first exposed to it seem to only get examples in terms of the price paid relative to intrinsic value. However there are other pieces to the margin of safety puzzle and I covered a few of the main ones recently.
Defensive Value Report
JD Sport has just announced their annual results and, given the economic background, they’re pretty impressive I think. Dividends are up by 10% which means that the record of unbroken dividend increases for the Defensive Value Report’s model portfolio holdings remains in place.
Click here to see the Defensive Value Report’s holdings, as well as the most up to date Defensive Value Rankings of FTSE 350 companies, by taking the free, no card required 60-day trial.
If you have any comments or questions just reply to this email.
Have a nice weekend,
John
P.S. More links
Here are a couple of videos that I watched in the week from some professionals that I like. They sum up almost all of the basic principles of sound investing.
Joel Greenblatt’s market secrets (26 mins)
Paradox of the skilled investor (26 mins) (interview with Legg Mason's Michael Mauboussin)
I hope you’re well and that you’ve managed to remain calm even in the face of a Spanish default. Perhaps the falling markets will serve up some new bargains, although as I type the FTSE 100 has jumped from 5,600 to 5,700. It looks like you have to be quick to time the markets!
Please find below the usual collection of posts, links and more:
New blog posts
Haynes Publishing – on the road to nowhere?
This week’s small-cap stock report is on Haynes Publishing, which has net cash and is priced quite cheaply relative to dividends, earnings and equity. Despite the negative title I actually like the stock and have added it to the small-cap portfolio:
3 ways to find a margin of safety
Something that comes up a lot for new value investors is the concept of a margin of safety. Most people when they’re first exposed to it seem to only get examples in terms of the price paid relative to intrinsic value. However there are other pieces to the margin of safety puzzle and I covered a few of the main ones recently.
Defensive Value Report
JD Sport has just announced their annual results and, given the economic background, they’re pretty impressive I think. Dividends are up by 10% which means that the record of unbroken dividend increases for the Defensive Value Report’s model portfolio holdings remains in place.
Click here to see the Defensive Value Report’s holdings, as well as the most up to date Defensive Value Rankings of FTSE 350 companies, by taking the free, no card required 60-day trial.
If you have any comments or questions just reply to this email.
Have a nice weekend,
John
P.S. More links
Here are a couple of videos that I watched in the week from some professionals that I like. They sum up almost all of the basic principles of sound investing.
Joel Greenblatt’s market secrets (26 mins)
Paradox of the skilled investor (26 mins) (interview with Legg Mason's Michael Mauboussin)
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