Have spent over 40 years in the O&G industry with special interest in technology application for improved business performance. Academic background: geology & geophysics. Professional background: seismic technology application, operations & management. Currently: external director on the board of a leading seismic acquisition company.
I'm an individual investor heavily influenced by Warren Buffett and Charlie Munger.
Munger's 1994 USC Business School Speech is something I think about a lot:
Over the long term, it's hard for a stock to earn a much better return than the business which underlies it earns. If the business earns 6% on capital over 40 years and you hold it for that 40 years, you're not going to make much different than a 6% return—even if you originally buy it at a huge discount. Conversely, if a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you'll end up with a fine result.
Another very simple effect I very seldom see discussed either by investment managers or anybody else is the effect of taxes. If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum.
In contrast, if you bought the same investment, but had to pay taxes every year of 35% out of the 15% that you earned, then your return would be 15% minus 35% of 15%—or only 9.75% per year compounded. So the difference there is over 3.5%. And what 3.5% does to the numbers over long holding periods like 30 years is truly eye-opening. If you sit back for long, long stretches in great companies, you can get a huge edge from nothing but the way that income taxes work.
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Richard W. Goodwin, PhD, PE is an Environmental Consulting Engineer. Dr. Goodwin has more than 25 years of experience in the waste treatment, disposal, by-product utilization, conducting studies on conceptual engineering and system performance and operations, ash management, securing regulatory acceptance for construction and demolition recycling and disposal projects, investigating viability of Landfill Gas Energy Extraction from abandoned landfills, evaluation of landfill operations, and testimony for hazardous emissions for proposed landfills. He specializes in wastewater reuse and odor elimination. Expert on FGD BY-PRODUCT GYPSUM & FGD, SCR, ESP, CO2 capture technology pollution control coal-fired power plants. Dr. Goodwin has completed a conceptual study for Office of Secretary of Defense for Hazardous Waste Management in Iraq. He is working with electric utilities on permitting of new coal-fired power plants implementing Clean Coal Technology (consulted to USDOE in this area). Dr. Goodwin also consults to investment community including investment bankers, private equity and venture capital firms. Dr. Goodwin has recently been appointed Task Force Chairman Energy Conservation [Palm Beach County FL]. His current work includes anaerobic digestion and energy recovery of biomass; conversion coal-fired plants to bio-mass and Waste-to-Energy Resource Recovery facilities. Consulted to Electric Utilities regarding retrofit and beneficial use of coal ash as consequence of recent regulatory mandates. Contributor to American Coal Association and Electric Utility Solid Waste Advisory Group regarding EPA’s proposed regulation of Coal Combustion Products. Consulted to Electric Utilities regarding SDI vs. FGD retrofits and Natural Gas Conversions. Consulting to investment firms Shale Gas – Energy Economics. Working with EPA SAB Hydraulic Fracturing.
Dr. Goodwin has held executive management positions with Research Cottrell, Chemico Air Pollution Control Corp., and General Electric Environmental Services Inc. He holds degrees from Carnegie Mellon [Tech]/LIU, NYU, and Technion/WOU and Professional Engineer licenses in NY, NJ and VT. He has lectured at Columbia Univ., N.Y. Polytechnic Institute, and Rutgers University and is active in several professional societies. Dr. Goodwin has presented/published over 70 papers and three books dealing with environmental energy issues (e.g. High Volume Residues from Combustion Systems).
36 years old. Native German. I work as an equity analyst at a boutique Investment Bank in Europe. I started investing privately in 2001 - just to get burned badly. Got back to investing my private wealth in 2013 with great success so far. I prefer momentum and value strategies. Typically looking for out-of-favour stocks with quality business models. Use fundamental analysis (competitive strategy, defensibility, structural growth potential, valuation, free cash generation) combined with technical analysis for entry/exit points. I am willing to hold high conviction ideas for 1-2 years but will trade in and out of positions depending on news flow and technical indicators (oversold, overbought).
I am slowly starting to build up positions in selected commodity names including FCX, TECK, BTE, ERF and others.
Semi retired physician with degrees in Chemistry, Physics, Math, and an MD but really just an engineer at heart ; ) Investing for over 40 years using a combination of fundamental research to pick companies and technical research to time buys and sells. Use some conservative option strategies to boost returns, sell puts on stocks I want to buy to lower my entry cost and sell covered calls when stocks I own appear to be over bought.
I have worked for almost 30 years in the custody end of financial services in the Midwest USA. My interests are personal investing to earn income and prepare for retirement and more contribution to the church and society.