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Value Investing Congress presentations


fwallstreet
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I didn't realize that. Great presentation Tim, well done! I really liked the slides on Buffett's early years.

 

Do you mind sharing a bit more detail about your research process and how you source/screen ideas? Any good resources/sites that focus on mircocap or smaller stocks in general that you follow? How about special situations (hadn't thought about "forced sales" as a distinct category before so thanks!)? The two I now know off for the latter are: http://www.stockspinoffs.com/ and http://spinoffmonitor.com/

 

I realize I may be asking stuff that might be part of your secret sauce, but figured I'd try and ask anyway. Again, great job on the presentation!

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I liked Tim's idea and really enjoyed his summary of the Buffett early years.  He should CC the yalie's who have apparently only analyzed the later years and concluded his outperformance was due to low beta names with high leverage via float.  I also enjoyed all the ideas that confirmed my own viewpoint (hah): MKL, BBBY (that is one smart lady) & OXY.

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I didn't realize that. Great presentation Tim, well done! I really liked the slides on Buffett's early years.

 

Do you mind sharing a bit more detail about your research process and how you source/screen ideas? Any good resources/sites that focus on mircocap or smaller stocks in general that you follow? How about special situations (hadn't thought about "forced sales" as a distinct category before so thanks!)? The two I now know off for the latter are: http://www.stockspinoffs.com/ and http://spinoffmonitor.com/

 

I realize I may be asking stuff that might be part of your secret sauce, but figured I'd try and ask anyway. Again, great job on the presentation!

 

Thanks.  I am fascinated by Buffett's early years.  I wish there was an easy way to source ideas.  If there is I haven't found it.  I read, I revisit past ideas, I look for otc stocks that trade above $1 and have real operations, etc.  For example, I found Awilco on a blog nearly a year ago, but the incredible returns would have been from reading that Awilco purchased the rigs and then started trading in Norway at $4 to $5 per share.  That is where the incredible returns are, and what I seek to find.   

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which one is the buffett early years one? Im curious about  that.

 

He was referring two of the slides in my presentation which showed the market caps of the more prominent positions Buffett held in the partnership years.  The smaller end of the spectrum is the easiest to understand and in IMO is typically the most likely to be undervalued.  Anyways, I try to think like he would think with a similar amount of capital, which is look for substantial discounts to intrinsic value where that value can be realized in a reasonable amount of time.  Of course we don't have PE's of 3 and easy arbitrage that he benefited from, but I try to find PE's of 6-9, or companies with cash levels near the market price.   

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I didn't realize that. Great presentation Tim, well done! I really liked the slides on Buffett's early years.

 

Do you mind sharing a bit more detail about your research process and how you source/screen ideas? Any good resources/sites that focus on mircocap or smaller stocks in general that you follow? How about special situations (hadn't thought about "forced sales" as a distinct category before so thanks!)? The two I now know off for the latter are: http://www.stockspinoffs.com/ and http://spinoffmonitor.com/

 

I realize I may be asking stuff that might be part of your secret sauce, but figured I'd try and ask anyway. Again, great job on the presentation!

 

Thanks.  I am fascinated by Buffett's early years.  I wish there was an easy way to source ideas.  If there is I haven't found it.  I read, I revisit past ideas, I look for otc stocks that trade above $1 and have real operations, etc.  For example, I found Awilco on a blog nearly a year ago, but the incredible returns would have been from reading that Awilco purchased the rigs and then started trading in Norway at $4 to $5 per share.  That is where the incredible returns are, and what I seek to find. 

 

Appreciate the additional info. I guess it's like they say, if it were easy, everyone would be doing it.

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