Investiv Daily

  • 22 May
    Here’s What Graham Might Have To Say About Index Funds Today

    Here’s What Graham Might Have To Say About Index Funds Today

    The main difference between index fund investing today and in Graham’s time are the fees, which in some cases were up to a 9% entry fee back then while now you can buy a market fund with a yearly asset management fee of 0.04%.

    Further, in his time, there weren’t any actual index funds which are the key investment vehicles at the moment, especially if an ETF.



    Graham On Mutual Funds

    Graham believes that the average investor does better by investing in funds rather than investing is stocks directly as funds promote the “good habits of savings and investing.” Those good habits are, unfortunately, not promoted by ETFs as the only purpose of them are to be tradable which is something you don’t want to do when you are a defensive investor and own a fund.  More →

  • 21 May
    Here’s Why You Should Stop Chasing Returns & Focus On Managing Risk Instead

    Here’s Why You Should Stop Chasing Returns & Focus On Managing Risk Instead

    • Despite rising inflation, copper prices have been declining.
    • Higher interest rates are putting pressure on emerging markets and their $19 trillion of debt.
    • However, the best investing opportunities usually arise when things aren’t good.



    Introduction

    I was really bullish on copper when it was around $2 per pound a year ago, but now I’m not that bullish anymore as it is above $3. More →

  • 18 May
    This Online Advertising Pioneer Should Be On Your Radar

    This Online Advertising Pioneer Should Be On Your Radar

    As you know, I’m a value investor. This doesn’t mean I shun growth, and I always look for the perfect combination where value is coming alongside growth.

    Today, I’ll share my preliminary research on Criteo (NASDAQ: CRTO) which is doing business in the very interesting sector of online advertising. Hopefully, this will give you an idea for a stock to watch.



    Company Overview

    Criteo is a French digital performance marketing company that is behind many of the ads you see when you browse the internet. As online ads are becoming the key to target customers, it’s wise to take a look at one of the leading companies and industry pioneers. More →

  • 18 May
    Financial Markets Are Rigged & The Whole Economy Is Fake

    Financial Markets Are Rigged & The Whole Economy Is Fake

    • Low interest rates have created a unique situation.
    • Economies are fake because you don’t know what’s real value or smoke.
    • What you should do might surprise you as to play along isn’t such a bad idea.



    Introduction

    Something that’s easy to forget is that the current financial environment is rigged and not many discuss this because it’s done in a legal way.

    In today’s article, I want to quickly explain what has been going on in the financial environment over the last decade and how natural market forces are distorted in order to increase asset prices and enable the economy we live in to continue as it has for at least a while longer. More →

  • 17 May
    Here’s The Truth About Investing In Argentina

    Here’s The Truth About Investing In Argentina

    I usually do the opposite of what others do.

    Just a year ago, according to the Wall Street Journal, many investors—like Morgan Stanley, T. Rowe Price, and Ashmore Group—rushed to buy Argentinian stocks as the situation in the country had been improving under the new president, Macri. Their position exposure has been at least 17% of their frontier market portfolios, which is the Argentinian weight in the MSCI Frontier Market Index.



    iShares even launched an Argentinian ETF and all seemed well until interest rates in the U.S. increased which made people think more about the risks and made them less attracted to the quick, high interest rate gains in Argentina. More →

  • 16 May
    This Is What You Need To Know To Be A Successful Investor

    This Is What You Need To Know To Be A Successful Investor

    Warren Buffett has stated that all you need to know for profitable long term investing is in chapters 8 and 20 of Benjamin Graham’s The Intelligent Investor.

    Chapter 8 is titled “The Investor and Market Fluctuations,” which is something we are all always intrigued by. The key is to prepare both financially and psychologically for market fluctuations.



    Market Fluctuations As A Guide To Investment Decisions – Timing Vs. Pricing

    Graham distinguishes between two ways of taking advantage of market fluctuations: you can time the market or you can price it. Timing assumes you predict where the stock market will go next, while pricing makes you look for stocks trading below their fair value.  More →

  • 15 May
    Are We In Another Real Estate Bubble?

    Are We In Another Real Estate Bubble?

    • The data resembles 2007, but there are other factors to think about.

    Introduction

    Recently, I was listening to an interview with Robert Shiller where he was explaining how they predicted the 2000s housing bubble. This got me thinking so I went to dig deeper and found the following chart.




    More →

  • 14 May
    Can You Hear The Economic Warning Bells Ringing?

    Can You Hear The Economic Warning Bells Ringing?

    A quick investment perspective on the current economic news will give us insight into what to do with our portfolio, what the best risk reward portfolio allocation is at this point in time, and what one can expect to happen.

    I’ll look at U.S. economic data, emerging market yields, and touch on Italy which is becoming a bigger and bigger risk.



    Economic Data – Strong, But Also Weak

    The headline consumer price index came in at 2.5% which is good, but might lead to higher interest rates which is a dance that has to stop at some point. More →

  • 12 May
    Sven Carlin New Book is Ready!  These 25 Tools Will Make You A Better Investor

    Sven Carlin New Book is Ready! These 25 Tools Will Make You A Better Investor

    Dear Investiv Daily Subscriber & Fellow Investor,

    After a year of hard work, I have finally finished my book about value investing and the process of analyzing a company. The title is Modern Value Investing, and the book is available both in a paperback version and as an e-book on Amazon.

    MODERN VALUE INVESTING: 25 Tools to Invest With a Margin of Safety in Today’s Financial Environment

    The book is dividend in three parts:

    • The mindset,
    • The skillset, and
    • Food for thought.

    The first section, titled ‘Mindset of a value investor,’ discusses the main psychological characteristics one must have to be a successful value investor. Risk is defined and explained in a way to help you understand the risks when making investment decisions.

    I then add to the common value investing concepts by discussing behavioral finance, the theory of reflexivity, and also discuss things to be careful of when investing like buyback shenanigans or Wall Street’s interests.

    The core of the book are the 25 tools to use when analyzing a company that will allow you to better analyze investment opportunities, identify a margin of safety, and have a great comparative view over your portfolio. The tools range from calculating intrinsic value, to determining a margin of safety, to assessing qualitative factors and general market risks for the company you are looking at.

    MODERN VALUE INVESTING: 25 Tools to Invest With a Margin of Safety in Today’s Financial Environment

    Part two follows with an application of the 25 tools on Daimler, a nice cyclical stock to demonstrate how the tools work.

    Part three of the book is food for thought as it goes beyond value investing and into more diversification, hedging, portfolio strategies, selling stocks, all-weather portfolios, rebalancing, long tail, and even gold.

    I hope you enjoy the book. If you like it, don’t forget to leave a nice review on Amazon as that would mean a lot for me.

    Sincerely,

    Sven Carlin

    MODERN VALUE INVESTING: 25 Tools to Invest With a Margin of Safety in Today’s Financial Environment



  • 11 May
    This Is Where Graham Says To Look For Investing Opportunities

    This Is Where Graham Says To Look For Investing Opportunities

    I’ll continue with my contemporary summary of Benjamin Graham’s book The Intelligent Investor as I believe that the combination of the everlasting wisdom in the book and a modern approach is all that an investor needs to reach great returns.

    Today’s discussion is about Chapter 7 – Portfolio Policy for the Enterprising Investor: The Positive Side.

    Today, we’ll turn from discussing how a defensive investor should invest to discussing how an enterprising investor should invest, one who devotes a fair amount of time in order to beat the market.




    More →

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