Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
“Margin of Safety” by Seth Klarman
#21
Just saw that this hard-to-find book is now available on Amazon's Kindle store for $10!

Grab it while you can.
Reply
#22
(07-10-2018, 08:43 AM)Kerim Wrote: Just saw that this hard-to-find book is now available on Amazon's Kindle store for $10!

Grab it while you can.

Well, let's hope those that wanted it grabbed it cuz ...

Good luck finding it now.
=====

“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan


Reply
#23
(07-11-2018, 05:25 PM)Dividend Watcher Wrote:
(07-10-2018, 08:43 AM)Kerim Wrote: Just saw that this hard-to-find book is now available on Amazon's Kindle store for $10!

Grab it while you can.

Well, let's hope those that wanted it grabbed it cuz ...

Good luck finding it now.

Alas!
Reply
#24
Kerim, I have to admit your summaries piqued my interest and some of the things you brought up I've used in my search for decently valued dividend growth stocks. However, at the time you were commenting about it, the companies I am/was interested in didn't hit the deep value that Seth Klarman was talking about. Those days were over after 2009-11 when finding very undervalued dividend growth companies was like shooting fish in a barrel.

Several articles I've seen since about what Mr. Klarman was holding in his portfolio(s) would not interest me today. That's not to say you couldn't become very wealthy following Mr. Klarman's deep value approach but the time and effort finding, researching and following every twist and turn of the companies' fortunes until the value is realized is not what I have in my plan at this stage in life.
=====

“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan


Reply
#25
I'm with you, DW. I absolutely believe that  -- executed well -- value investing will get you rich faster and better than DG investing. But to execute value investing well is beyond my skill set and available time, while I believe that I can do DG properly. (And I like to think that I am somewhat careful about my DG entry points, so that my approach to DG has a slight value flavor to it.)

All that said, I think Klarman's book is nonetheless a worthwhile read, if you can get your hands on it.
Reply
#26
Downloadable pdf available here: http://www.valueplays.net/wp-content/upl...llScan.pdf
Reply
#27
Thanks for re-posting. I've never read it but I will start tonight. I haven't been on the forum for years like most but I know I have read Kerim believes your performance is cooked in when you buy. I believe that too. Just riding out a bad buy forever often doesn't fix the deep hole you dug on entry. I have a couple personal experiences that demonstrate that. 15 years didn't completely fix a very bad entry into MSFT, CSCO and PFE. Stocks that are still revered. You can't just pay price, and think time will cure all.
Reply




Users browsing this thread: 2 Guest(s)