bsned2

Thanks everyone for these recommendations, I subscribed to a few. I am already a subscriber to Tobias Carlisle's podcast, but I find it annoying for the most pedestrian of reasons: so far he lets every guest participate on speakerphone. I hate speakerphone, it's grating to my ears and sometimes makes it hard for me to understand what is said. So that's one of my criteria for podcasts I guess -- professional production that is pleasing to the ear. Anybody else feel this way?

I liked the series, despite its flaws. Same for the movie. A very agreeable elegiac tone.

I have read each response and find all opinions valuable. Thank you everyone. Of course I will not risk my nest egg on my own learning curve as an investor. I'd commit a small percentage of my money to my own attempts. But i would hope over time -- 10 years? -- I could start to feel more confident. Anyway someone lovely and generous from this board volunteered to help me out, so off I go. A lot of reading and basic learning of analysis await me. I'll keep you all posted!

Hi all, OK. I've been lurking on this board for a while, and I find it very valuable. So thank you to all of you. I'm 59, coming to the Value Investing game way too late. But I hope to live many more years and I have money in the market, albeit in big dumb blue-chips like Home Depot. So I'm trying to teach myself. I've read many of the recommended books. I'm starting to create my own excel spreadsheets to make calculations from quarterly/annual reports. I'm sure I can stumble through and teach myself, but it could take me a while. What I lack, and what I really want, is someone who knows what they are doing who can look over my shoulder and tell me what I'm doing wrong. A retiree in my area maybe? I'd even be willing to pay for that advice. Not much though ha ha. Of course what money I have is with a brokerage firm (Raymond James) and I really like my guy there. But he's not really an investment guru, he's a manager. And he doesn't have the time anyway. Anybody have any advice? I'm not in a major metro area (I live near Palm Springs) and I don't think there is any real investment club out here. Thanks. I'll keep plugging way regardless.

Interesting topic, even if this article is a bit simplistic. http://www.bostonglobe.com/ideas/2014/08/02/shareholder-value-bad-for-business/3O4MYxjWgmJ2DOPwkeYxyN/story.html?src=longreads

Finally a subject where my opinion is just as good an anybody else's! I loved Life of Pi. And I wasn't a fan of any Ang Lee movie before that. (Fargo TV show me no likey.)

So, as a newbie Value Investor, I've been looking into some companies. Most of them are not right for me, which I generally conclude after an only-semi-thorough read of the most recent 10K and some web research. How I would love a knowledgable friend with whom I could check myself, someone to bounce these companies off of, and say, hey I'm right after only a little research to move on from this company right? (This board is great, I love it, but it's not really built for discussions (with newbies) of companies NOT worth our time.) For instance (if anyone's still reading), I did a screen: P/E under 17, P/B between .5 and 1.5, Debt/Equity under 1, ROE 5 yr average over 7. I got 21 results. I immediately rejected most of them as companies in businesses that are right now beyond my grasp, like tech or Pharma. And I ignored pink sheet stocks. I'm trying to stick to companies that I feel I can understand. Of course my eye is drawn to "Shoe Carnival," a company I had never heard of. (A discount shoe retailer where each store cultivates a "fun" atmosphere where somebody gets on the mike occasionally to announce temporary sale items. Yikes.) Nothing particularly wrong with the company, they make money and one great thing about them is they have no debt. But their earnings seem pretty stagnant or growing very slowly. They open new stores every year, but per store earnings go down, at least for the last few years. Management seems to think continuing to open stores will do the trick. So I move on. Right?

Today's dumb Newbie Question: Seems like a lot of smart folks on this board use TEV as an important measure, especially P/TEV. But I've seen a lot of different ways to calculate TEV. Can someone help me with the most common formula? Can't thank you guys enough! (I'm putting together a little Excel work sheet that helps me take a snapshot of any company I'm researching. Not a substitute for real thinking, but helps me to put all my pertinent info, both financial and other important info, in one place. What I am doing so far is simply downloading the most recent 10K in excel form and adding my own worksheet as part of it. Keeps the info all together. If necessary, at least while I'm still learning, I'll do it for every 10Q and 10K that comes out.) Drinks on me!

So clearly the data for users on this website (and others) suggest the Magic Formula doesn't work, or at best beats the market slightly. But he purports to have data showing that it has worked like gangbusters for the last 10, 15, 20 years? I don't get it. Is he fudging the data somehow? (Anyway I just read his "little book" and found it "little useful." And I'm just a beginner!

West, fantastic, thanks. And thanks everyone!

Thanks again everyone. I have read "The intelligent Investor." I am reading the books: when I'm done with one I pick up another. And I'm reading every day online! The VIC ideas, this forum, etc. I'm always on the lookout for another website to check out frequently. (I don't doubt that I could learn it all on my own, by reading and doing. But it will be slow going. The "mentor" idea was just to find a way to speed up my learning curve somewhat. This board is great so far, at least in letting me know how much I don't know.) Onward and upward! Brian

OK -- again thanks everyone. I've read a bunch of 10K's, read a lot on this board, read several books. I did fairly extensive research on UHAL (because I read about it on some blog), which took me weeks, and I decided to "fake buy" it -- meaning, just noting the price at which I would have bought it and keeping track as if I own it. (It's something I'm doing before I put real money at stake.) I bought at 282, and it's now at 296, and my wife is a little impressed. But I told her, we have to be in these things for the long haul (no pun intended), a jump up or a jump down in price shouldn't faze us. Anyway I'm a little flummoxed as to what company to research next? Of course I've got my list, cobbled together from blog discussions, Berkshire ownership, stocks my Dad bought, etc. But at this point researching a company takes me a long time, because I'm still learning. I could also use a stock screener to find low P/Es, or yearly lows, etc. but that seems so random When your slate is clean, how do you guys decide what to research next? (Thanks so much!) Brian

Thanks for the serious (and not very serious) replies! Onward and upward! Brian P.S. I promise to try not to ask dumb questions. Right.

Hello all, I'm a brand new member of this board, and a fairly new student of value investing. I've read some annual reports, read several books, investigated a few companies. Haven't bought a thing yet. (I have not one iota of finance background. I do have a small comfort level with math, at least. My career, crazily enough, has been for the most part in entertainment.) As I read through these annual reports, I keep thinking: I could use a mentor. You know, someone I could buy lunch once a month and ask questions like: "What does this part of the report mean, and do I need to know it?" I'm pretty sure that eventually I could learn it all myself, but a smart person to bounce stuff off of would really speed up the process. (Unfortunately there's no "Value Investing" class at my local community college. Maybe there oughta be.) Any idea how to start? Or want to tell me not to bother? Thanks so much, glad to have found this board, Brian :-\

What a great (if short) thread this is for me, a beginner. I've been scouring 10K's, all the time thinking, how much of this do I really need to know? Thanks everyone! ;D

Hi Parsad, Well -- I just moved to Palm Desert (in March), just joined the forum (today June 14) and just saw this post! But I'm a total newbie: I've read a few books, researched a few companies, but not bought anything yet. I'm just starting out on this do-it-yourself value investment adventure. So I don't think I'd be a very interesting coffee-mate. Have fun and if you're back here again, let me know! Brian Snedeker bsned2@gmail.com