Since this blog is a learning resource, I will happily point you to other websites/blogs where you can learn.
Sanjay Bakshi is an investor and professor in India who applied the lessons of Graham, Buffett, and Munger to his teachings and investing. I recommend: http://www.sanjaybakshi.net/Sanjay_Bakshi/BFBV.html
You can download 9 lectures and peruse his site. Also, a student organized a few of his past posts–perhaps an easier way to find your interests.
Sanjay’s site will help deepen and broaden your thinking. For example:
Nothing is more dangerous than an idea when it is the only one you have–Emile Auguste Chartier
Why should I buy this stock?
Because it is cheap!
Under what circumstances would this be a mistake? Name three reasons why you could be wrong?
- Value Trap (declining industry)
- Bubble Market
I followed a golden rule that namely whenever a new observation or thought came across me, which was opposed to my general results to make a memorandum of it without fail and at once for I had found by experience that such facts or thoughts were more apt to escape from the memory than favorable ones. –Charles Darwin
I will post other recommended blogs, but when they fit a context.
If you haven’t tried the case study, go here:
After 20 minutes to complete the case study, go here for my comments and analysis:
The above scribd document has an Appendix on page 20 where you can find other links to more indepth studies of the company. A diligent student can continue to hone their analytical skills.
If you are not willing to read the primary documents like a company’s 10-K to understand the operational and financial characteristics of the company, then be prepared to feel like this (without a parachute) when investing:
Again, this case study should drive home the points of asking simple questions, walking away from the difficult and finally, showing humility. The legions of MBA and CFA analysts who blew up their clients may have more to do with the fact that they have neither competence nor humility rather than pure intelligence.