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Thread: Value investing

  1. #1
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    Default Value investing

    Hello!

    I've been lurking in the background reading about what you lot think of different companies listed on the NZX for over a year now. I'm very appreciative of everyone's inputs, the differing views and the wisdom from all of you, so thank you!

    I have really enjoyed digging a little deeper into the companies and learning about the different businesses nz has to offer and figuring out what they all do.

    I've dipped my toe starting to invest in the NZX. I begun with ETFs and now starting to get into individual stocks. Results have been good in my short exposure to the stock market.

    However having recently read Benjamin Graham's 'the intelligent investor'. I have seriously had to rethink my portfolio and my exposure to risk. I understand there has been a huge tailwind and we are currently in the largest bull market in history.


    Here is where I need some directing...

    I'm not from a financial background and need some guidance in learn how to value stocks.

    I've been lucky enough to have done a couple of 100 level accounting and finance papers as part of my Bachelor of Commerce Degree but I lack any real knowledge of how to find value in stocks. I open annual reports and start to read them but quickly get overwhelmed with the financials and how to interpret them and compare them to other companies. It's very hard to stay motivated and I don't seem to have a lot of direction.

    I am wanting to get insight as I am still passionate into how you learnt to find value in stocks from a financial perspective. I understand its a long process and time and experience is the key.

    Are there any:
    -Clubs
    -Courses
    -Teachers
    -Books/textbooks with examples
    -YouTube channels

    Is there anything that helped you accelerate your learning? More specifically your understanding financial statements, ratios, discounted cash flows etc etc.

    Any help or ideas would be much appreciated.

    Timinator

  2. #2
    FEAR n GREED JBmurc's Avatar
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    Many good books ... my last one was "Insider Buy"

    51LI86Z+0PL._SX385_BO1,204,203,200_.jpg

    Youtube many great clips on here more trading focused but still great tips https://www.youtube.com/channel/UCdn...pAkATOiDsPhqcg

    Personal not a fan of investing long term with the share market even though at times they can end up being held for years ..
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  3. #3
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    Default

    https://www.marketscreener.com/
    Look up stock here is a good start

  4. #4
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    Quote Originally Posted by JBmurc View Post
    Many good books ... my last one was "Insider Buy"

    Looks exciting!

    51LI86Z+0PL._SX385_BO1,204,203,200_.jpg

    Youtube many great clips on here more trading focused but still great tips https://www.youtube.com/channel/UCdn...pAkATOiDsPhqcg

    Thanks for that. I listened/watched an episode this morning over breakfast and enjoyed it.

    Personal not a fan of investing long term with the share market even though at times they can end up being held for years ..
    How has that gone for you? Do you look into companies financials or do you trade more based on charts and trends?

  5. #5
    Legend peat's Avatar
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    PE/G

    and,
    as per Beagles statement in SUM thread 'make results , not excuses'.
    For clarity, nothing I say is advice....

  6. #6
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    Hello there

    I have found this TA tuition handy https://www.youtube.com/watch?v=y7iVTTH5tOA

    hope you do too.

    Cheers

  7. #7
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by timinator View Post
    How has that gone for you? Do you look into companies financials or do you trade more based on charts and trends?
    Charts + Trends + Macro factors ... but still do a good amount of fundamentals before taking a position
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  8. #8
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    Quote Originally Posted by peat View Post
    PE/G

    and,
    as per Beagles statement in SUM thread 'make results , not excuses'.
    I'll look into that PE/G ratio some more. Yes, hard work generally pays off. Just want to make sure I'm working on the right things.

  9. #9
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    Quote Originally Posted by mshierlaw View Post
    Hello there

    I have found this TA tuition handy https://www.youtube.com/watch?v=y7iVTTH5tOA

    hope you do too.

    Cheers
    I've come across this before! Very useful, reminds me to look over again. They do a lessons of Warren Buffet series that I've found useful.

  10. #10
    Legend peat's Avatar
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    Quote Originally Posted by timinator View Post
    Yes, hard work generally pays off. Just want to make sure I'm working on the right things.
    No, I mean this in terms of evaluating companies performance. If they make excuses instead of results then exit or reduce the position.
    It is a stunning axiom (also something Beagle has commented on ) that the most reliable predictor of the future is the present and the immediate past. If a company is doing well as a result of its management performance it is likely to continue to do well , and if times get tough it will adjust and do the best it can given the circumstances - active skilful management is the best asset a company can have.
    For clarity, nothing I say is advice....

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