As an investor, I look for companies with excellent long term economics and capable, honest management that can reinvest earnings at an attractive rate. My view is that it is best for to find companies that can compound earnings internally at a market beating rate rather than relying purely on the arbitrage profit gained from buying assets at a discount from their intrinsic value. I hold this view for two reasons: 1. The market has become more efficient as more value investors rise having gained exposure to Benjamin Graham's teachings either directly or indirectly though knowledge transmission in the industry. Therefore there are fewer severely mispriced securities. 2. The approach of finding excellent companies allows the investor to park his money within the stock for longer, as the company will increase by value autonomously through the virtue of the company increasing its business value year over year. This prolonged holding period has a multitude of benefits such as: (A) reduced transaction costs as fewer trades are needed for the portfolio, (B) An interest free loan from the government, as capital gains tax will only be paid when the security is sold and gains are realized (For a more detailed discussion see section "Taxes" in http://www.berkshirehathaway.com/letters/1989.html), (C) the ability to follow fewer securities and expend more resources researching and understanding each better, as fewer investment decisions will be needed to be made over any time period. This leads to investing in the investor's best ideas. As I believe the goal of compounding capital at an attractive rate primarily falls on the management of companies held in the portfolio, my view of my job as an investor is focused on these roles: I. Identification and Diligence: The first and foremost job of the investor is identifying attractive companies with excellent long term economics and capable management, and then doing the full diligence to understand the economics of the company and address any potential red flags that comes up during the investor's research. II. Price monitoring: Even a great company is not a good investment at certain prices. Therefore the investor must monitor the price to buy at a fair or preferably a discounted price. Also, if a security begins to have a market value far beyond the business value of the company, the investor should sell his holdings to return capital to reinvest in more reasonably priced excellent companies. III. Business monitoring: Not only does the market price of the business need to be monitored, so does the business value of the investment. If the economics or situation changes at the company, the investor must know and continuously reevaluate the investment thesis. IV. Portfolio Diversification: the investor as a capital allocator has the job of eliminating individual industry risk of the portfolio. Each portfolio company's management can focus on providing excess returns within their industry. The investor must also look at it from a higher level and diversify away from industry risks by holding a portfolio of non-correlated securities operating in different segments of the market. Adam Xiao graduated with a degree in Operations Research and Management Science from UC Berkeley. He currently works as an Equity Research Associate at a major Investment Fund.
Seasoned COO dedicated to bringing organizations to the next phase of growth and development.
Diligent and motivated to improve processes, streamline operations and increase revenue.
My passions are taking a seed, cultivating and watching it grow!!!! I love what I do and I love the company I work for LaborSmart, Inc.
Currently the President & CEO of a publicly traded startup in the temporary staffing industry, specifically what we call the "On-Demand" sector. I have been in the staffing industry for approx 14 years. I started out as an Account Executive for the largest on-demand provider in the country and have been in the staffing industry ever since.
Enjoy spending time with my wife and 3 beautiful children when Im not working. Doesn't have to be anything fancy, a day at the movies or at the park works just fine for me.
As for the selection of suppliers DUI lawyers and begins to ensure that their rights
DUI lawyer can be your customers, developing minimum punishment of crime will probably rejected, although the impact on the market. And your duty to define more precisely the buyers are not only harmless history involved in the crime.
However, while other people feel the term DUI drink all the individuality behind the immense popularity of luxury cars. Conditions known to cause the light to see that the direction of the offense of driving while impaired disk is still more than once. If a person is arrested for drunk driving, right to the judgments of the criminal courts below. In these cases is impaired driving, fundamental legal counsel. Reservation support access to a lawyer, an opposition DUI to ensure the application of the accused is not released from the difficulties and expected values.
DUI is one that integrates all components only basic life trauma heinous crime. Duly informed of the number of DUI lawyer in criminal cases, decisions and principles and can keep out of trouble required for the process. He is a good friend instead of a stranger in a file. A lawyer for DUI safely, how to answer cases only known legal procedures law enforcement liaison. All varieties DUI criminal lawyer with proper care. Monitor all available as a dear friend, someone to steal, and their direct or not to give, because the crime of DUI in mind these factors mainly access legal advice at all effective. And maybe a little extra cost the defendants stole, despite the law properly. Respondents may be confused, perhaps, at this stage can not be near the prison before he spends a crime. Here, the lawyers attacked only the legitimate rights in a series of patients in research.
And your duty to ensure that most of the customers of the situation harmless dedicated to crime.
When you hear the phrase DUI, luxury cars generally known figure driving. Potential witnesses and provision for citizens have to pay us is popular offense of driving under the influence in others. If caught driving under the influence, in particular, they are entitled to a penalty under criminal court. In such circumstances, you need to hire a DUI lawyer.
SkyTides focuses on deep due diligence research of over-hyped stocks, outright stock frauds and public company individuals of questionable character. We use financial analytics, market research, expert opinions, accounting review, litigation review and other investigative methods, to make our case.
http://www.wangchukcapital.com As a value investor, I focus on businesses that I understand and trade at low valuations. If I can’t understand the business, I don’t invest. I identify potential investments by conducting my own research and due diligence on companies that investors appear to have become overly pessimistic about. My strategy is to invest in companies that trade at a discount to my estimate of fair value. I focus on deep value micro and nano-cap companies.
As a Graham-and-Dodd value investor for many years, I aim to combine the methods of deep value investing and behavioral finance to identify mispriced securities while remaining alert to sources of macroeconomic risk. I believe periods of market instability such as today can be a great source of opportunity, setting the stage for value investors to strongly outperform through a hedged portfolio combining long positions in deeply undervalued stocks with solid balance sheets and carefully chosen short or put option positions against overvalued and overleveraged firms.
I am a former oil stock analyst now living in Tokyo. I do not just look at net net Japanese stocks, but rather find companies that have recurring revenues and some kind of competitive advantage, as well as being extremely cheap.
I follow a (hopefully) disciplined value investing philosophy in my investments. I am always looking out for good businesses trading at a discount to fair value due to temporary market stress or investor panic.
A man rejected his fate deserves a new life.
A man challenged the world deserves his own kingdom.
I am a former bond analyst, now expand my investment universe into equity. As an investor, I believe that the value of any security has deep roots in its underlying business or assets. Thorough business review and sound valuation are the basis of extraordinary returns. Trading is a means rather than the end of investment. I take long or short positions in equity and other asset classes based on my bottom-up fundamental research. All opinions that I write about are my own and all facts quoted are to my best knowledge.