Tuesday, September 3, 2013

Value Investing Part 1: What is Value Investing?

Welcome to Lesson 1 of Value Investing. If you're wondering why I am now adopting this approach, please read my post about A Change In Strategy.

Value Investing is an investing method categorized under fundamental analysis and was derived from the ideas of Benjamin Graham (Warren Buffett's mentor) and David Dodd. This method involves buying stocks of companies that appear underpriced.

Under this method, I will be teaching you the following:

1. Identifying companies with a durable competitive advantage.
2. How to read the financial statements and why you need to learn how to read them.
3. How to determine if the stock price is attractive or not.

Now, why do I want to adapt to this method of investing? Because I grew weary of not knowing whether the stock I am buying is already expensive or not relative to the company's actual value and not because of the sentiment of the market, whether it be bull or bear.

Take a look at the picture below.



At what level do you think is the PSE index at? Take a look at the photo below.


Now, try to guess at what stage we are...

That is the chart of the PSE Index as of August 2013. Scary, right?

It looks like we are now approaching the COMPLACENCY stage. Once our market crashes, what we saw in the last week of June will be nothing in comparison.

At this point in time, we need to be prepared with cash to buy stocks once they are at their lowest point, between the ANGER and DEPRESSION stages. So start getting rid of stocks that you are unsure of, while keeping stocks that you are completely comfortable holding to even if their prices go very low.

But how do we know if a company will recover or not? By looking at companies with a durable competitive advantage and healthy finances.

I will post Part 2 shortly.

In the meantime, may God bless your investments.

~Crimson

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