Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Feb 10, 2012, 3:00 am
Written by Jae Jun Verdict Management: B+ Growth: B- Moat: C Risk: C Valuation: B+ Overall: B- Business Description from the 10-K IEC Electronics (IEC) is a provider of electronic manufacturing services (EMS) to technology companies. The Company specializes in the custom manufacture of circuit...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Feb 7, 2012, 2:01 am
Written by Jae Jun The Secret GRVY Recipe ADR – Small Korean online game development company Stock price below $5. “Was” trading below NCAV. Dirt cheap fundamemtals for a profitable company No chance for activism because of 51% owner 7+ years of delays for game release Catalyst of impending ...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Feb 3, 2012, 2:01 am
... Was spun off from Astronics (ATRO) in 2003. A totally unrelated parent. Management Daniel Keane is CEO. Kevin Keane is chairman of the board. Must be father and son combo. Not an independent board. Strong insider ... executives and directors own 33.5% of class A stock. Daniel Keane and Kevin ...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Feb 1, 2012, 2:01 am
Written by Jae Jun UFP Technologies (UFPT) creates custom packaging, component and product solutions for the following markets: medical, automotive, aerospace & defense, industrial, electronics and consumer. When you buy an electronic item, the foam or egg carton type cardboard protectors are th...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jan 30, 2012, 2:01 am
Written by Jae Jun Here is a good case study to go through. Diamond Foods (DMND) is being investigated by the SEC and DoJ for potential accounting fraud. I will go through a few methods to detect earnings quality, manipulation and aggressive accounting to see how well it comes up against DMND. ...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jan 23, 2012, 2:08 am
Written by Jae Jun Darling International (DAR) Darling International is a rendering company. A rendering company is one where it goes around collecting oil, waste and other animal by-products from meat processors, bakeries, grocery stores, butcher shops and restaurants to recycle it into things s...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jan 21, 2012, 2:18 am
Written by Jae Jun As I mentioned in an earlier stock analysis post, one of my goals this year is to write more analyses. I won’t limit the companies I analyze to strictly small caps, however, there are definitely sectors and countries that I won’t be able to cover. Therefore, I want to bring...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Nov 2, 2011, 3:20 am
Written by Jae Jun This is what I said a couple of weeks back. “I have 50% of my portfolio in my top 3 positions. None of the losses has been realized and I’m content to wait it out… 3 out of my top 4 holdings are listed on the pink sheets or ADR.” In response to my Q3 update, there we...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Oct 28, 2011, 3:07 am
Written by Jae Jun I’m always after quality links and lately there has been a burst of them. Here are the ones I found to be excellent and helpful. None talk about the market or Europe thank goodness. A few spinoff analysis posts in this one. Enjoy it over the weekend or whenever you have time. ...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Oct 25, 2011, 5:09 pm
Written by Jae Jun Life Goes On Without the Market I am now officially back from vacation and managed to survive one week without internet, phone and computer. Sailing from one island to another without any access to daily price checks and market swings has its benefits. Sure I missed whatever h...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Oct 17, 2011, 3:34 am
Written by Jae Jun Let me start off by saying that 2011 has been a horrible year. Under performance is a understatement, but I am learning many lessons which is vital to each investment year that goes by. It would be easy to brush this year as a bad year and look forward to a new start, but that�...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Oct 15, 2011, 12:06 pm
Written by Jae Jun It has already been 3 years since I announced that I was getting married on this site and 4 years of running this site. Married life is fantastic and after 4 years of running this site, I still love studying the art of investing and sharing with you my findings. Well I just wa...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Oct 14, 2011, 4:05 pm
Written by Jae Jun I was going over Buffett’s old letter to shareholders during his partnership years, and it blows me away the level of success he was able to achieve. For 11 years from 1957 to 1968, Buffett not only beat the market, he never had a down year. On a cumulative basis, his partners...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Oct 11, 2011, 5:07 pm
Written by Jae Jun As you read the comments, keep in mind that every company can be a great opportunity at one price and a horrible investment at another. My comments are based on current prices. Hard to Find Good Investments 60 stocks have now been completed and it’s clear that finding quali...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Oct 8, 2011, 9:15 pm
Written by Jae Jun Click on each of the headings to read the recommended articles in full. What Shareholder Value Really is About Most CEOs, as well as some of the other contributors to this forum, appear to have a false sense of what creating shareholder value means. CEOs need to understand t...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Sep 28, 2011, 4:02 am
Written by Jae Jun Well it seems like most of you like the quick short stock analysis style. Although I don’t get into deep details, you should be able to see a pattern of the  specific things I look for in a company at first glance. Here is the next round of 20. When I’ve completed going th...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Sep 26, 2011, 4:00 am
Guest post by Tim du Toit Eurosharelab The Use of Checklists I recently came across an interesting article in The New Yorker magazine called The Checklist written by a multi-talented surgeon who is also the author of an interesting book I am reading called “Complications: A Surgeon’s Notes o...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Sep 24, 2011, 2:38 pm
Written by Jae Jun Lately I’ve been getting this nagging feeling that everything I touch turns to dirt. Every time I buy a stock that is already down a lot, the one that my analysis leads me to believe is cheaper than dirt, it declines more. Did I completely lose my ability to value stocks? D...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Sep 20, 2011, 4:00 am
Written by Jae Jun Last week I decided to start going through a list of 2o0 small companies. These companies were determined to be fast growers in 2009. Two years later the growers have succeeded in returning shareholders with impressive equity returns, while the laggers now find themselves in a d...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Sep 17, 2011, 6:06 pm
Written by Jae Jun SEC: Pandora Is “Unsustainable” Due to Reliance on Legal Strategy The SEC told Pandora (P) in March that its music licensing agreements make its “current business plan unsustainable,” according to copies of correspondence disclosed by the company. The disclosures underl...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Sep 13, 2011, 4:41 am
Written by Jae Jun Back in 2008 and 2009, I had a lot of fun going through 200 of the best small companies from the annual Forbes magazine listing. Trying to go through 200 companies in a few weeks meant I was constantly reading and thinking, which helped me in my outperformance of the market. W...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Sep 5, 2011, 1:55 pm
Written by Jae Jun I hope you are enjoying this long weekend. Weather is great in Seattle and I took the opportunity to take a nice drive down to Portland Oregon to take in some new sights and to refresh my mind to focus on the coming week. Many of these links were found through The Kirk Report. ...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Aug 29, 2011, 2:04 pm
Written by Jae Jun The pure play way to get into the Rare Earth market without the risk. Rare Earth Elements (REE) Discussion The misguided notion about rare metals is that, it is referred to as if is just one type of metal. This couldn’t be further from the truth. REE is actually comprised of...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Aug 15, 2011, 3:00 am
Written by Jae Jun You’ve heard and read it over and over again. Management will try to hide information in the footnotes, therefore read the footnotes, read the footnotes, read the footnotes. But if you are a normal person you don’t like to spend all day, or don’t have the time to spend, r...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Aug 9, 2011, 3:31 am
Written by Jae Jun I’m not here to teach you how to be a great investor. On the  contrary, I’m here to tell you why very few of you can ever hope to achieve this status. It doesn’t matter how intelligent you are, how many books you’ve read or how good you are with numbers. The truth ...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Aug 4, 2011, 2:23 pm
I’ll skip the market commentary as you’ve probably read it somewhere. This morning I find out my portfolio is -4%. Very deep in the red. To say this month has been dreadful is an understatement but this is the perfect time to take a gut check to see whether you have conviction in your stock pic...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Aug 4, 2011, 12:52 am
Written by Jae Jun Here’s a quick tutorial on how to set up an RSS feed for your company’s insider transactions. This is something that is extremely quick and easy to set up. Once you get an idea of how this works, you’ll be able to fiddle around with it to search for other specific forms f...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Aug 1, 2011, 4:16 am
Written by Jae Jun You Don’t Want to Miss Big Profits by Ignoring BOLT Part 1: The Business and Risk of Bolt Technologies Quick Overview of BOLT as an Investment My assessment of BOLT is summarized by the spider graph shown here. Low Risk: The company financial statement is very easy to read...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 26, 2011, 1:32 am
Written by Jae Jun Back in early 2010, I started writing for Complete Growth Investor with my first article highlighting Bolt Technologies. Here is the link to the original BOLT analysis that started my investment in the company. Bringing you up to date, I sold my entire position back in April of...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 16, 2011, 4:27 pm
Written by Jae Jun Dacha Capital: A Discussion With Patrick Wong My highest conviction pick of the year. Dacha Capital, a rare earth holding company. This interview goes over Dacha’s unique business model and approach. Groupon: Comedy or Drama? Who does Groupon think they are fooling with the...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 15, 2011, 4:00 am
Jae Jun In case you missed it, here are the most popular articles in the past 90 days as voted by you. How Companies Misuse Capitalizing of Expenses Part of the Aggressive and Conservative Accounting Series. This one looks at capitalization of expenses. Investment Book Review: Financial Shenanig...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 13, 2011, 4:00 am
Guest post by Elie Rosenberg ValueSlant.com “Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.” – Warren Buffett According to the Oracle himself, what sets great value investors apart from the rest of...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 11, 2011, 4:00 am
Jae Jun End of Q1 Value Stock Screen Performances End of Q2 Value Stock Screen Performances Results Discussion A few things stand out here. Screens are under performing the market by large amounts Current market is not loving value stocks. Growth and momentum stocks are viewed as more attractiv...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 8, 2011, 4:00 am
Jae Jun OSV Portfolio Performance As you can see, I’m having a tough time of it this year. YTD I am down 4.6% which is more than 10% behind the S&P500 and Russell 2000. It’s times like this I’m glad that I can say that “past performance is not an indication of future performance” For t...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 6, 2011, 11:39 am
Guest Post by plc90210 The original version of this article can be found in the forum under back-testing spinoffs. Successful Spinoff Investments In Joel Greenblatt’s first book, “You Can be a Stock Market Genius”, he stated two points that make a spinoff worth analyzing. Insiders are buy...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 5, 2011, 3:11 pm
Guest Post by Value Folio I hate to crush anyone’s dreams but sometimes realism is simply a better catalyst for accomplishment than groundless euphoria. Let’s face it. You probably will never be like Warren Buffett. Unless, that is, you can read like a maniac. Want to try to be Warren Buffett...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jul 1, 2011, 12:40 am
Jae Jun Q2 ends with the market surprising resilient and up 6% YTD. The first half of 2011 has been extremely tough with stocks seesawing back and forth. Who knows what the second half will bring as the monetary policies employed continually degrade the economic system long term. I have been able ...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jun 27, 2011, 4:00 am
Jae Jun How to value stocks series For other posts in the series, follow the links below. How to value a stock with DCF Method How to value a stock with Benjamin Graham Formula How to value a stock with Reverse DCF How to value a stock with EPV Value Stocks Like a Pro. The Absolute PE Method. It�...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jun 24, 2011, 4:00 am
Jae Jun All I can say is that I have struck gold with the following list of valuation articles. The Best Primer on Valuation Multiples (pdf) I gave it the title of best primer because it really is just that. This was written in 2001 so I’m ten years late to this party. You won’t find a bette...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jun 20, 2011, 3:15 am
Jae Jun Graham assigned a PE of 8.5 for Zero Growth Companies According to Benjamin Graham’s formula from The Intelligent Investor, he assigned a PE of 8.5 to a company with zero growth. However, if you have used my stock valuation spreadsheet or read the article on how to value stocks using the...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jun 16, 2011, 12:40 pm
Daniel Rudewicz Furlong Financial Before Warren Buffett became Chairman and CEO of Berkshire Hathaway, he ran a successful investment partnership. But his style of investing was not always the same, it gradually evolved over time. His high school jobs consisted of varied ventures including selling...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jun 13, 2011, 1:54 am
Theodor Tonca One of the questions I have frequently been asked lately is, “How do you analyze businesses?” I usually respond by noting that determining a company’s intrinsic value is a subjective operation. It is nearly impossible to determine a company’s precise value but it is not hard t...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jun 11, 2011, 2:49 pm
Jae Jun Market is down 6 weeks straight filled with jitters and volatility. Remember to use price as a tool and not an indicator. It is difficult to see my portfolio in the red but when I look at the big picture with a longer term view, my positions are still very much undervalued. In times like t...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - Jun 6, 2011, 12:48 am
Daniel Valuefolio.com At my home we have a basic framework with which we view life and make decisions. This framework helps us to make sensible decisions without letting our emotions get in the way. Here is an example of two of the principles in the framework that my wife and I have developed o...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - May 25, 2011, 1:55 am
Jae Jun Financial Shenanigans is so good that Mebane Faber emphasizes checking your company against all the accounting shenanigans described in the book. With the Chinese reverse merger frauds and the social media hype/bubble growing, you will definitely be better off scrutinizing the financial sta...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - May 23, 2011, 4:14 am
Jae Jun At the end of April, the OSV portfolio remained flat at 2.72% YTD total return. Markets are resilient and performing well. The year isn’t over yet and my portfolio has near term catalyst that should propel the performance if it plays out as expected. This update will be short as I’ll p...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - May 16, 2011, 7:20 pm
Jae Jun How to value stocks series For other posts in the series, follow the links below. How to value a stock with DCF Method How to value a stock with Benjamin Graham Formula How to value a stock with Reverse DCF How to value a stock with EPV Disadvantages of Discounted Cash Flow Valuation I a...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - May 10, 2011, 12:05 am
Jae Jun Aggressive and Conservative Accounting Series For previous articles in the series, click on the links below. Aggressive and Conservative Accounting Policies How to Detect Aggressive Revenue Recognition Policy FIFO LIFO Inventory Valuation Methods Straight Line and Accelerated Depreciation...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - May 6, 2011, 1:44 pm
Jae Jun Excellent Reads Without the Noise 1. Portfolio Sizing and Management (PDF) An old presentation from 2007 by Zeke Ashton of Centaur Capital Partners. Talks about what a good position size is and how to go about building one. 2. Outsized Profits with Freddie preferred stock Derek Pilecki ...
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Jae J. posted an article on Value Investing Based on Ben Graham, Phil Fisher, Warren Buffett, Joe Ponzio — Old School Value - May 3, 2011, 11:18 am
Jae Jun Aggressive and Conservative Accounting Series For previous articles in the series, click on the links below. Aggressive and Conservative Accounting Policies How to Detect Aggressive Revenue Recognition Policy FIFO LIFO Inventory Valuation Methods Straight Line and Accelerated Depreciation...
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