value investing
The most successful fund managers are contrarians — those who zig when the market zags.
Charles de Vaulx, CIO of International Value Advisers (IVA), subscribes to the classic value investing principles practiced by Benjamin Graham and his disciples, including Walter Schloss and Warren Buffett. But he is hardly a clone.
Value investors focus their analysis on putting information in context, an approach that can take longer, but is less reliant on the fastest execution of an algorithm.
Introduction
I am not always a contrarian, but an opposite view from the crowd often gives an investor a safer perspective. Thus the lackluster performance of the US stock market in the first half of January is a prod to… READ MORE ›
Today’s most shared: Every currency can’t be weak… Wall Street’s chat rooms a hive of villainy? … German hard-money faction displeased with ECB rate cut… When you’re cryin’ you should be buyin’ – the investors… READ MORE ›
In the spirit of last week’s feature, which asked a few of our contributors to speak about things that they believe to READ MORE ›
Value investing is about finding and buying a bargain, a dollar selling for 70 cents or less. One of the most tantalizing apparent bargains offered by the stock market is the negative enterprise value (EV) stock: a stock that… READ MORE ›
If volatility is not a good measure of risk, what are the risks that actually matter? The founder and CIO of APS Asset Management outlines six.
The NYU professor applies a common-sense, mathematical approach to challenge general “rules of thumb” of valuation while still using accepted methodologies, such as the discounted cash flow model.
Financial statement analysis and security valuation are a big part of our training as CFA charterholders; for many of us, they are the most important part. We pride ourselves on the thoroughness, sophistication, and level of detail of our… READ MORE ›