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05-08-2015, 02:45 PM
Hi Value buds,
I've decided to create this thread as a renewed "platform" to discuss/share this investment approach that we all adore, and why we are here in the first place - Value Investing.
To systemise the broad arena of value investing concept, let's strive to categorise our discussion on the following topics:
1. Objective
2. Philosophy
3. Process
To further elaborate, most discussions in this forum have leaned heavily towards philosophy (i.e. talk about buying companies at substantial discount to their intrinsic value etc), lesser so on process (Search strategy, FS analysis, quality & persistence of earnings, valuation and behavioral discipline etc) and almost non-existent on objective (market beating & empirical results etc).
In the next post, I'll kick start on the topic of Objective. Objective is important because it is the basis underpinning the attractiveness of a value investment approach. If an approach is not expected to outperform the market, there is no reason to diverge from the market portfolio. Likewise, if value investing strategy has been proven not to outperform market, there should be no reason to pursue such approach.
Don't let being an value investor a decision of individuals who are famous for being famous. Understand why and how it works - So that someday, you can show without the need to bring up names of Ben Graham, Warren Buffett or Peter Lynch.
Cheers
HSq.Cap
I've decided to create this thread as a renewed "platform" to discuss/share this investment approach that we all adore, and why we are here in the first place - Value Investing.
To systemise the broad arena of value investing concept, let's strive to categorise our discussion on the following topics:
1. Objective
2. Philosophy
3. Process
To further elaborate, most discussions in this forum have leaned heavily towards philosophy (i.e. talk about buying companies at substantial discount to their intrinsic value etc), lesser so on process (Search strategy, FS analysis, quality & persistence of earnings, valuation and behavioral discipline etc) and almost non-existent on objective (market beating & empirical results etc).
In the next post, I'll kick start on the topic of Objective. Objective is important because it is the basis underpinning the attractiveness of a value investment approach. If an approach is not expected to outperform the market, there is no reason to diverge from the market portfolio. Likewise, if value investing strategy has been proven not to outperform market, there should be no reason to pursue such approach.
Don't let being an value investor a decision of individuals who are famous for being famous. Understand why and how it works - So that someday, you can show without the need to bring up names of Ben Graham, Warren Buffett or Peter Lynch.
Cheers
HSq.Cap