Investing & trading: July - September 2013 articles archive home
A barrier
In days of old, a castle was protected by the moat that circled it,” says Buffett. “The wider the moat, the more easily a castle could be defended ...
Tuesday, September 17, 2013 ... more
 
 
As Kahneman says
People tend to assess the relative importance of issues by the ease with which they are retrieved from memory — and this is largely determined by media coverage.

Tuesday, September 10, 2013 ... more
 
Again and again
Most investors choose not to value companies and offer a variety of excuses: valuation models are too complex, there is insufficient information, or there is too much uncertainty.
Tuesday, September 3, 2013 ... more
 
 
Are you a gimp?
A gimp, according to Covel, is the average investor; the investor that isn’t in control, either by their own choice or choices put upon them.
Tuesday, August 27, 2013 ... more
 
 
Ray Dalio ...
… is a vehement believer in the importance of challenging your own investing ideas. The founder of Bridgewater Associates, the world’s largest hedge-fund manager, which oversees more than $150 billion, is a strong believer in what he calls “thoughtful disagreement.”
Tuesday, August 20, 2013 ... more
 
3 observations ...
… from Michael Mauboussin on investing: “The only certainty is that there is no certainty… With uncertainty, the underlying distribution of outcomes is undefined, while with risk we know what that distribution looks like. Corporate undulation is uncertain; roulette is risky.”
Tuesday, August 13, 2013 ... more
 
 
Seth Klarman
... on investing in securities trading at an appreciable discount from underlying value.” Genuine value investors like declining prices because it allows them to buy more. If you do not feel this way about declining prices you are probably not a value investor.
Tuesday, August 6, 2013 ... more
 
 
Warnings ...
… from Daniel Kahneman, with comments from IQ25: Many individual investors lose consistently by trading, an achievement that a dart-throwing chimp could not match.” Not only will muppets lose to a dart throwing monkey, they will do worse than chance would dictate, especially after fees because of certain behavioural biases
Tuesday, July 30, 2013 ... more
 
Quotes ...
… from Michael Mauboussin on Investing:

“Risk for a long-term investor is permanent loss of capital, and probably the most tried and true way to think about that is Ben Graham’s concept of margin of safety.”
Tuesday, July 23, 2013 ... more
 
 
Missed the last rally?
There’s always some reason that looked good at the time. In any case, the markets have powered upward and onward without you. What do you do now? How to begin to repair the damage?
Tuesday, July 16, 2013 ... more
 
Ignore the noise
... investing is owning corporations that provide goods and services, hopefully more and more efficiently to lower prices, and that's capitalism at work ... They make earnings, they reinvest, pay dividends, reinvest the rest
Tuesday, July 9, 2013 ... more
 
 
You should try
Everyone should try their hand at trading. Set up a trading account and start trading ... equities, gold, futures, anything. Until they can answer a straightforward question: Do they suck at trading?
Tuesday, July 2, 2013 ... more
 
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