The Intellectual
Investor’s
Lexicon
By Vitaliy Katsenelson
Valuation Targets
When I bought those stocks, I set valuation targets. When they approached the targets, I quickly reviewed their fundamentals. They had not changed much. The decision was obvious: sell.
Value Demagogues
Value demagoguery starts when value investors read Ben Graham’s Intelligent Investor and the main point they get out of the book is that they need to buy statistically cheap stocks.
Value Investing
Value investing to me is a philosophy that is governed by what I call the Six Commandments of Value Investing.
Vendor Financing
The vendor essentially co-signs loans for customers lacking investment-grade ratings. Nvidia is in discussions to guarantee roughly $250 billion in lease and debt financing for an OpenAI data center campus.
Volatility (feature vs. bug)
Volatility can be both a feature and a bug of investing. Value investors attempt to treat it as a feature.
