“A great many people think they are thinking when they are merely rearranging their prejudices.”
- William James
Graham Theodor & Co. Ltd. Annual Letter to Partners 2012
“There is nothing like writing to force you to think and get your thoughts straight”. – Warren Buffett
Why Investing is Most Intelligent When it is Most Businesslike
As presented at Simon Fraser University-Harbour Centre Campus on Nov. 29, 2012: https://docs.google.com/presentation/d/1LB6nEV5Ex8weBusa21vQDwDsUiuB9cksjVt0wCBXLx0/edit
Case Study: Cash Flow Shenanigans (Salesforce.com Inc. Edition)
As contributed to Benzinga: http://www.benzinga.com/markets/12/11/3095388/cash-flow-shenanigans-salesforce-com-edition
Bank Analysis Template
“The bank hath benefit of interest on all moneys which it creates out of nothing.”
- William Paterson, Co-Founder Bank of England 1694.
In-Efficient Market Theory: A Synopsis
As contributed to ValueFolio: http://www.valuefolio.com/blog/in-efficient-market-theory-a-synopsis.html
Case Study: Earnings Power Value
“Use knowledge to reduce uncertainty” - Bruce Greenwald
Below Cash Basket: Japanese Edition
“A basket of these stocks (those selling for below 2/3 of their adjusted net asset value) have outperformed the indexes by wide margins over many different time periods.”
- Benjamin Graham
Pargesa Holding S.A.: A Dollar For Approx. $0.55
“Value Investing can be boiled down to the act of buying a dollar for 50 cents or less .”
- Bruce Greenwald
Case Study: Reproduction Value
“I think one can invest successfully with just a few techniques and simple principles. The main point is to have the right general principles and the character to stick to them.”
- Benjamin Graham
