Stock Analysis
Why Amazon Will Not Kill This Business
Tesco is a great example of how one should be very careful judging a company’s fundamental performance by looking solely ...
It’s Not Just Amazon’s Fault
Retail stocks have been annihilated recently, despite the economy eking out growth. The fundamentals of the retail business look horrible: ...
The Warren Buffett & Charlie Munger Show
A friend told me that he doesn’t go to the Berkshire Hathaway annual meeting – or what is also known ...
Good Companies Don’t Always Make Good Stocks
I was recently going through a new client’s portfolio and found it full of the likes of Coca-Cola, Kimberly-Clark and ...
Finding High-Quality Companies Today
While originally written in 2017, this article rings just as true today. We are having a hard time finding high-quality ...
How To Stay Rational In the Irrational World
We only intended to share that presentation publicly for a few weeks and already removed it. However, we encourage you to subscribe ...
Read This Before You Buy Your Next Stock
I want to address an issue that has bothered me for a while now. When I write about stocks my ...
Why Cognizant Shines Brighter as a Stock Pick
We’ve been eyeing investment opportunities in business process outsourcing for a while; lately, our interest is on the rise because ...
The Pharma Stocks We’re Buying Now
Last week I explained why my firm is investing in pharmaceuticals stocks, despite the sector being a favorite punching bag ...
Trump Hates Them – We Love Them
A few weeks after Donald Trump was elected president of the United States, he was asked about pharmaceuticals prices. With ...
Apple vs Coke
Great Stock = Great Company + Great Valuation (Apple vs Coke) Valuation – margin of safety (discount to fair value) ...
Amgen – Biology vs. Chemistry
June 22, 2016 – Excerpt from Q2 2016 letter to IMA’s clients Purchase of Amgen: First we need to explain ...
Purchase of Allergan and Sale of Teva
June 22, 2016 – Excerpt from Q2 2016 letter to IMA’s clients To talk about our purchase of Allergan we ...
Trump. Embracing Volatility We Are
It is a new year, and my crystal ball was supposed to have become magically unfogged by the turn of ...
The Dangers of Dividend Obsession
I originally wrote this piece in 2016, but it’s just as relevant today. “This is a very bad, incoherent piece.” ...
The Persistent Problems of Presidential Elections
The election is over. I am left with two very contradictory feelings. First is one of appreciation — every four ...
Gilead, Buy HIV, Get Hepatitis C for Free
A few months ago I wrote a long article about Gilead that I wanted to title “Gilead: Buy Hepatitis C, ...
Discovering Discovery
Discovery is a media company that owns some of the most popular TV channels – Discovery, TLC, Animal Planet, Oprah ...
Searching for Yield?
This piece was written in the fall of 2016, but many of its core lessons remain true to this today. ...
SoftBank CEO Masayoshi Son Banks on Exponential Growth
I am about to go out on very thin ice. I am a value investor, but I’ll probably get banned ...
The Values of Value Investing
I organize a conference every summer called VALUEx Vail. Vail is a quaint, beautiful, ritzy ski resort town tucked away ...
