So did anyone notice what the market did this week? I’m sure you did. Anyway, here are links that you can spend your time reading. Brain food for value investors.
Wesco Aircraft (WAIR) sparked my interest after ranking value attributes for a basket of over 3,000 companies. At first it was the large debt reduction since 2014. Then the aggressive and historical outsized insider buying over the past two months, mean reverting stock performance with a -44% 52-week price change near 52 week low.
Another month has flown and our bag of goodies continues to get bigger.
I’ll also share a sneak peek of what we working on, so keep reading.
Back in August, I shared what we added. This time around, we added the following…
What You’ll Learn
– Why moats matter
– What makes a moat and how it is created and widened
– What isn’t a moat and what does not add to moat
– PDF notes
We run a very lean and tight shop at Old School Value and we conclude August with a bang.
We’ve got a long list of upgrades to share with you that you’ll be excited about.
A few thoughts from Graham & Dodd and Marty Whitman about how to think about earnings and how it may differ from earning power.
“…the phrase “earning power” must imply a fairly confident expectation of certain future results. It is not sufficient to know what the past earnings have averaged, or even that they disclose a definite line of growth or decline.” ―Graham & Dodd, Security Analysis (6th Ed.)
In chapter 15―The Final Checklist―of the book One Up on Wall Street, Peter Lynch summarizes the things that you as an investor would like to know about stocks in each of the six categories, as follows. Here they are…