17 Burst results for "Ben Graham"

"ben graham" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

02:23 min | 9 months ago

"ben graham" Discussed on Invested: The Rule #1 Podcast

"It's by it with a large margin of safety for less than it's worth and that's the way the best investors in the world do it, and in order to do that, there's some fundamentals you have to understand the business that you're getting into the way you would understand any business that you would own or the franchise that you would build understand it on that level as simply. As. Understanding how a business works where you buy a house and you rented. How would you choose that house? What? What's the Moat that protects it? That makes it that the rents are going to go up over the next twenty years. That's what we are. Understanding real investing is and it doesn't matter if you're buying real estate and renting it if you are buying a business and owning it downtown at some little town by a laundromat or a bar. Owner restaurant or whether you are involved in private equity venture capital and get into businesses or whether you're buying public stocks, those are all businesses. And we should look at them all the same way. Yeah. Actually I haven't told you this just happened a couple of days ago but my husband and I are looking at maybe getting vacation property and rented out most of the time. And it's haven't really gotten to into it yet, but but it's been kind of fun to like. Take this methodology and really for real apply it to the business of a rental property and. Look at the moat and think about the management. What's the margin of safety and it's it's great. I love it. Is great absolutely fantastic and Warren Buffett who really taught us most about this He always gives credit to Ben Graham but honestly, I mean, Graham came up with the foundation of it all which is how to understand business. And Its future cash flow, but Warren really came up with this idea that. All of these assets are if they produce cash-flow their their equivalents and you should look at them the same way. Yeah totally. down. So he gives examples in his many letters from Berkshire hathaway's the chairman of the board. I think in two thousand, fourteen, he gave examples buying a farm..

Warren Buffett Berkshire hathaway Ben Graham chairman
"ben graham" Discussed on It's Possible - Conversations with Successful Online Trainers

It's Possible - Conversations with Successful Online Trainers

03:00 min | 2 years ago

"ben graham" Discussed on It's Possible - Conversations with Successful Online Trainers

"You do and you want people how many business do you grow your business that's it for tips and not just giving away every single thing procreate oh that's so true end i really really good point you just like you know that a lot of people were kind of talking think about this a little bit before a lot of people have a hard time game or money right at that time saying you know oh i'm i'm worth that much but at the end of the day that money that people why that they're paying you you're going to gain a different level i people don't really appreciate things that are ray right like not everyone appreciate that reached it'll take it as seriously and then also without you you're like i know that if i am not my bills fan i worked for free the debris ever feel like don't tell my clients in my brothers dave right like we all need money to survive and at the end of the day it word taking that money a lot of investing it back and forces i know i spend the money every year not literally go way back my client but if my clients were paying me money i couldn't become better so at the end of it you have yourself like what my eyes deserted they deserve the best version of me or did they deserve a trainer that's not willing to invest in their style in to become better virgil very go on ben this amazing i really really enjoyed our conversation anchor those of you that are watching let us know when you're in the comments you're number one take away okay andy were gonna be giving away a couple of bucks fruit for those of you that are entering your number one jake way back i wanna thank you on behalf of the personal trainer developing fetter coming on spending time today day to a share with viewers year number one jake way nbc kept they've been offering guy so have you want a similar thing that i band you're gonna wanna check out the new course from john goodman it's gonna give you the the blueprint you need to take your business to the next level okay so if you're in the usa you can check pt dc do four four four nine nine nine end if you're in any way you can go to the p t d c dot com forward slash intro and not riots i know because i haven't paid over again i'll put it in the comments guys check that out in the i wanna thank you guys again will be back on monday coming live you know email i gotta say you are just the way it worked out this week with all guy but next week ago so i cannot wait for that those if you're watching you guys a one day at twelve thirty eastern time okay then.

one day
"ben graham" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

08:31 min | 2 years ago

"ben graham" Discussed on WBZ NewsRadio 1030

"Welcome back to the Rick Edelman show triple eight plan RIC. That's triple eight seven five to sixty seven forty two. You can also go online to our website at recovering dot com. As we approach year end. I want to ask you the question. What are your top financial goals for the new year? It's not too early to start thinking about those New Year's resolutions. And according to the recent survey by fidelity they've been doing this ten years in a row. What is it? They ask investors around the country and consumers overall what are your top financial goals? Number one. Forty eight percent. Say their number one goal is to save more. Twenty nine percent say they want to pay down their debt and fifteen percent say they want to spend less and these three goals in that order savemore pay down debt. Spend less are the same three goals over the past ten years. So we're pretty consistent you and me our goals haven't changed. And despite what's going on in the world around us. We still have that goal of saving more. And I want to share with you just a couple of quick simple, easy pieces of advice. Quick simple, easy steps to help you. In fact, the chief those goals, so that you can save more and the most important valuable way you can do this is to make it painless to make it easy to make it automatic. In other words, two things I'm going to give you number one is to join your retirement plan at work. They will debit money from your paycheck automatically without you thinking about it and the money will go directly into an investment account on your behalf and many employers. They'll even add money to your account if you put in money, so we'll your boss. So it's a simple easy thing to do. And you're saying to yourself. My goodness gracious. I won't be able to afford the cut in pay. Yeah. You will you might notice it for the first paycheck or two. And after that, you won't even notice it at all here. Step number two. If you're so convinced that you will notice it then do the following. Don't. Put money in your paycheck into the plan, wait for your next raise? And when you get a salary increase put the increase into the plan. You don't have that money now. So you won't notice it when you get it. So if you get a two percent raise put the two percent into the plan. Simple and easy painless and automatic. Here's the other approach as you face the bills that you have to pay each and every month. All you need to do is add yourself as a Bill. In other words, you have to pay your utility Bill. Your phone Bill. You gotta make your car payment. You gotta buy food. You got to pay for your insurance premiums. You've got to buy gas for the car. You got all these bills to pay. And you say what everybody says once I pay my bills, I'll take what's left over. And I'll save it. And guess what there's never any left over because stuff comes up in life. So what I want you to do when you're paying your bills pay yourself before you pay any of them take twenty five dollars fifty dollars one hundred dollars a thousand dollars you pick the number. I don't care what the number is. And write yourself a check for that amount before you pay all your bills. Guess what? When you're done paying your bills. You're gonna be broke just like you always are except now you'll be broke with having money saved because you paid yourself first you treated yourself as the. I most important creditor you've got and if you'll follow those two, simple ideas. Join your retirement plan at work and pay yourself first. You'll be amazed. How much easier it is to accumulate wealth for your future? You know, we invite you to send me your questions, which you can do by recording your own voice to ask Rick at RIC Edelman dot com. And that's what Kester did listen up higher acres Kester again from Brazil, congratulations to you in gene on their books. The square manifesto. It's a fantastic book. I read the two yesterday to my oldest daughter, and she liked it a lot ahead to reach your because it's an English. So I had to read the story in English in my head and hurting Portuguese would have a very good talk after that talking about the concepts and that tech Selena part. Toomey, had some similar to the fable of the that the lead golden eggs, you shouldn't you shouldn't try to think too much at once you shouldn't try to overdo it an expert too much. Very good concept those traditions are phenomenal. Especially like that one inspired the painting by Michelangelo every every single ones. The masterpiece the special for me. I have a question for you some years from now all those kids are reading this book. Be teenagers aka black holes of money. Well, there be too old for the squirm under festival, but yet a little bit too young for the truth about money. So my question is are you planning to write a book for teenagers as well? A thinking wouldn't it be a good idea? Well this season for you and your listeners there, and by that was Cassar from Brazil. Thank you so much for your comments. I'm really glad that your daughter is enjoying the book, the squirrel manifesto. In fact, we've had a really exciting week here in the firm because of a lot of really favourable book reviews that have come out at equities dot com. They wrote a review called three top investment and finance experts whose advice you should read. And they only cited three the first Ben Graham, he's widely regarded as the father of value investing. He wrote security analysis in nineteen thirty four. He wrote the intelligent investor in nineteen forty nine everybody sites. Ben Graham is the one guy you gotta read even though he wrote these things fifty eight years ago and there's been dead for decades. In fact, Ben Graham is the guy who taught Warren Buffett everything the buffet knows. And he's on the list. Two of the three Ben Graham was first Warren Buffett was third even though. Warren Buffett's never really written a book. He's written lots of shareholder letters that have come to be considered some of the most important investment letters ever written. So you've got Ben Graham and Warren Buffett number two. Rick edelman. So I'm in there with Ben Graham and Warren Buffett was really very excited to see that value penguin just wrote a review called the sixteen best personal finance books to read in two thousand nineteen and they said the best personal finance book for parents is the squirrel manifesto the book, we've just written. The Kester mentioned aimed at four to eight year olds US news report has just issued a story called eight best gifts to give for an investment education, and they say for younger audiences, the squirrel manifesto and CBS news has just written a review this week. That says the squirrel manifesto is an excellent book that will educate and motivate your children or grandchildren about the value of affectively managing their money with beautiful illustrations and fables to introduce children ages four to eight to the value of saving for their future. So I'm very humbled very excited at these favorable reviews. And I invite you to check out the, squirrel. Festival for the young children in your life. And yes caster we are talking about what book is next that. I'm going to release and will let you know as soon as we figure that out. I'm Rick Edelman. You're listening to the Rick Edelman show. Call us a triple eight plan RIC. That's triple eight seven five to sixty seven forty two online Riechelmann dot com. That's you gotta rice Delman dot com. More would the author of the New York Times bestseller the truth about money coming up on the Rick Edelman show. Ten forty three. Good morning. I'm teeny gal thirty seven degrees in Boston out to the roads, we go. The Subaru retailers of New England all wheel drive.

Rick Edelman Ben Graham Warren Buffett Kester Brazil RIC Edelman Boston New York Times Michelangelo Subaru Toomey Cassar CBS New England two percent ten years
"ben graham" Discussed on KSFO-AM

KSFO-AM

03:11 min | 2 years ago

"ben graham" Discussed on KSFO-AM

"And that's what Kester did listen up higher acres Kester again from Brazil, congratulations to you in Gino their books the square manifest waits a fantastic book. I read the two yesterday to my oldest daughter. She liked it. A lot to rejoin because it's an English. So I had to read the story in English in my head already Portuguese. We hit a very good talk after talking about the concepts that takes part. Toomey had some similarity with the fable of the delayed, golden eggs. You shouldn't try to think too much at once you shouldn't try to overdo it too much. Very good concept those traditions are phenomenal. Especially like that one inspired the painting by Michelangelo every every single one is a masterpiece that one special for me. I have a question for you, so MIR swim now also kids that are reading this book are going to be teenagers, aka black holes of money. They'll be too old for the squirm square festival, but he had a little bit too young for the truth about money. So my question is are you planning to write a book for teenagers? Uh slow a thinking, what would be a good idea? Well this season for you and your listeners out there. And by that was cancer from Brazil. Thank you so much for your comments. I'm really glad that your daughter is enjoying the book, the squirrel manifesto. In fact, we've had a really exciting week here in the firm because of a lot of really fair. Favorable book reviews that have come out at equities dot com. They wrote a review called three top investment and finance experts whose advice you should read. And they only cited three the first Ben Graham, he's widely regarded as the father of value investing. He wrote security analysis in nineteen thirty four. He wrote the intelligent investor in nineteen forty nine everybody sites. Ben Graham, as the one guy, you gotta read even though he wrote these things fifty eight years ago and there's been dead for decades. In fact, Ben Graham is the guy who taught Warren Buffett everything the buffet knows. And he's on the list. Two of the three Ben Graham was first Warren Buffett was third even though Warren Buffett's never really written a book. He's written lots of shareholder letters that have come to be considered some of the most important investment letters ever written. So you've got Ben Graham in Warren Buffett number two Rick Edelman, so I'm in there with Ben Graham and Warren Buffett was really very excited to see that value penguin just wrote a review. The sixteen best personal finance books to read in two thousand nineteen and they said the best personal finance book for parents is the squirrel manifesto the book, we've just written. The castor mentioned aimed at four to eight year olds US news and World Report has just issued a story called eight best gifts to give for an investment and they save for younger audiences. The squirrel manifesto and CBS news has just written a review this week..

Ben Graham Warren Buffett Brazil Kester Michelangelo CBS Gino Toomey castor Rick Edelman fifty eight years eight year
"ben graham" Discussed on 600 WREC

600 WREC

03:11 min | 2 years ago

"ben graham" Discussed on 600 WREC

"And that's what Kester did listen up higher acres Castro again from Brazil, congratulations to you in genome books the square manifest waits a fantastic book. I read the two yesterday to my oldest daughter, and she liked it a lot ahead Tarija her because it's an English. So I had to read the story in English in my head and throw hurting parties would have very good talk of talking about the concepts and that takes part. Toomey had some similar to with the fable of the delayed. Golden eggs, you shouldn't try to think too much at once you shouldn't try to overdo an expert too much, very good concert. Those traditions are phenomenal. Especially like that one inspired the painting by Michelangelo every every single one is a masterpiece that one special for me. I have a question for some years from now all those kids that are reading this book are going to be teenagers, aka black holes of money. Well, there be too old for the festival, but yet a little bit too young for the truth about money. So my question is are you planning to write a book for teenagers us? Well, a thinking it will be a good idea. Well, head holiday season for you. And your listeners there by that was Cassar from Brazil. Thank you so much for your comments. I'm really glad that your daughter is enjoying the book, the squirrel manifesto. In fact, we've had a really exciting week here in the firm because of a lot of really favourable book reviews that have come out at equities dot com. They wrote a review called three top investment and finance experts whose advice you should read. And they only cited three the first Ben Graham, he's widely regarded as the father of value investing. He wrote security analysis in nineteen thirty four. He wrote the intelligent investor in nineteen forty nine everybody sites. Ben Graham, as the one guy, you gotta read even though he wrote these things fifty eight years ago and there's been dead for decades. In fact, Ben Graham is the guy who taught Warren Buffett everything the buffet knows. And he's on the list. Two of the three Ben Graham was first Warren Buffett was third even though. Warren Buffett's never really written a book. He's written lots of shareholder letters that have come to be considered some of the most important investment letters ever written. So you've got Ben Graham and Warren Buffett number two Rick Edelman, so I'm in there with Ben Graham and Warren Buffett was really very excited to see that value penguin just wrote a review called the sixteen best personal finance books to read in two thousand nineteen and they said the best personal finance book for parents is the squirrel manifesto the book, we've just written. The castor mentioned aimed at four to eight year olds US news road report has just issued a story called eight best gifts to give for an investment education, and they say for younger audiences, the squirrel manifesto and CBS news has just written a review this week..

Ben Graham Warren Buffett Cassar Brazil Tarija Kester Michelangelo Toomey castor CBS Rick Edelman fifty eight years eight year
"ben graham" Discussed on Newsradio 1200 WOAI

Newsradio 1200 WOAI

02:53 min | 2 years ago

"ben graham" Discussed on Newsradio 1200 WOAI

"Did listen up higher acres Kester again from Brazil? Congratulations to you in notebooks. The square manifesto. It's a fantastic book. I read the to yesterday to my oldest daughter, and she liked it a lot I had to reach her because it's an English. So I had to raise the story in English in my head and hurting parties. We had a very good talk talk about of course. And that takes a little part. Toomey, had some similarity with the fable of the that the lead, golden eggs. You to think too much at once you shouldn't try to overdo it an expert too much. Very good. Those are phenomenal. Especially like one inspired the painting by Michelangelo every single one. A masterpiece that one's a special for me. I have a question for you. Some years from now also kids that are renews. This book. Are be teenagers aka black holes of money. Well, there be too old for the festival, but yet a little bit too young for the truth about money. So my question is are you planning to write a book for teenagers as low a think it ought to be a good idea? Well this season for you listeners out there, and by that was cancer from Brazil. Thank you so much for your comments. I'm really glad that your daughter is enjoying the book, the squirrel manifesto. In fact, we've had a really exciting week here in the firm because of a lot of really favourable book reviews that have come out at equities dot com. They wrote a review called three top investment and finance experts whose advice you should read. Only cited three the first Ben Graham, he's widely regarded as the father evalu- investing. He wrote security analysis in nineteen thirty four. He wrote the intelligent investor in nineteen forty nine everybody sites. Ben Graham, as the one guy, you gotta read even though he wrote these things fifty eight years ago and there's been dead for decades. In fact, Ben Graham is the guy who taught Warren Buffett everything the buffet knows. And he's on the list. Two of the three Ben Graham was first Warren Buffett was third even though Warren Buffett's never really written a book. He's written lots of shareholder letters that have come to be considered some. Of the most important investment letters ever written. You've got Ben Graham in Warren Buffett number two Rick Edelman, so I'm in there with them and Warren Buffett was really very excited to see that value penguin just wrote a review, the sixteen best personal finance books to read in two thousand nineteen and they said the best personal finance book for parents is the squirrel manifesto the book, we've just written the Castro mentioned aimed at four to eight year olds US news and World Report has just issued a story called eight best gifts to give for an investment education, and they save for younger audiences. The squirrel manifesto and CBS news has just written a review this week..

Warren Buffett Ben Graham Brazil Michelangelo Kester CBS Toomey Castro Rick Edelman fifty eight years eight year
"ben graham" Discussed on WMAL 630AM

WMAL 630AM

02:30 min | 2 years ago

"ben graham" Discussed on WMAL 630AM

"Phenomenal. Especially like fact one inspired the painting by Michaelangelo every every single one is a masterpiece. This is special for me. I have a question for some years from now also kids are reading this book are to be teenagers, aka black holes of money. Well, be too old for this festival, but he a little bit too young for the truth about the money. So my question is are you planning to write a book for teenagers as well? I think it will be a good idea. Well this season for you. And your listeners out there. By that was Cassar from Brazil. Thank you so much for your comments. I'm really glad that your daughter is enjoying the book, the squirrel manifesto. In fact, we've had a really exciting week here in the firm because of a lot of really favourable book reviews that have come out equities dot com. They wrote a review called three top investment and finance experts whose advice you should read. And they only cited three the first Ben Graham, he's widely regarded as the father value investing. He wrote security analysis in nineteen thirty four. He wrote the intelligent investor in one thousand nine hundred forty nine everybody sites, Ben Graham, as the one guy you gotta read even though he wrote these things fifty eight years ago and there's been dead for decades. In fact, then Graham is the guy who taught Warren Buffett everything the buffet knows. And he's on the list. Two of the three Ben Graham was first Warren Buffett was third even though Warren Buffett's never really written a book. He's written lots of shareholder letters that. Have come to be considered some of the most important investment letters ever written. So you've got Ben Graham and Warren Buffett number two Rick Edelman, so I'm in there with Ben Graham and Warren Buffett was really very excited to see that value penguin just wrote a review called the sixteen best personal finance books to read in two thousand nineteen and they said the best personal finance book for parents is the squirrel manifesto the book, we've just written. The Kester mentioned aimed at four to eight year olds US news and World Report has just issued a story called eight best gifts to give for an investment education, and they say for younger audiences, the squirrel manifesto and CBS news has just written a review this week. That says the squirrel manifesto is an excellent book that will educate and motivate your.

Ben Graham Warren Buffett Michaelangelo Kester Cassar CBS Brazil Rick Edelman fifty eight years eight year
"ben graham" Discussed on Stansberry Investor Hour

Stansberry Investor Hour

04:02 min | 2 years ago

"ben graham" Discussed on Stansberry Investor Hour

"And then jump out the window to get back down and seeing what they they? They can investors tend to think because none of us is very good at looking into the future and understanding what's coming tomorrow or or next year. So we we just we we typically imagined it what tomorrow is gonna look like is a lot like. Today and yesterday and and the last week last month. And when that when that doesn't happen when it doesn't play out that way, they get scared to death, and they jump out the window, and they dropped their they they they sell stock and they head for the hills. And so they tend to overreact dramatically. And so I think that's a possibility here, and so with regard to the melt-up it's really kind of an ideal setup. Right. Because you may very well have a a large number investors dramatically over reacting to what they think are the changes in expect -tations this week creating an opportunity to get in at a very good price. If if you make the right selection and ride this melt-up up from here. Yeah. That's right. Porter mentioned, you know, a sentiment indicator yesterday sent an Email out to the subscribers. And and says, you know, this the sentiment has turned the other way now and people are just way too terrified. And you know, other folks have reported on this where you know, the put ballroom put option volume is just, you know, people get terrified, and they just go screaming into the market buying put options, and when it gets to a certain point, you know, it's overdone and historically speaking. You know, you get five ten fifteen percent pops after these things, and I agree. That's that's probably what we're doing. But actually, folks Mike was very smart. He steered me back toward discussion about fundamentals because that's what he and I know best. And that really is what it's about. You know, we talk about fundamentals. We talk about, you know, cash flows and operating margins and revenue growth and all kinds of things people get bored by that. Because those things are terrible timing mechanisms they're not what you use for timing. They're not what traders really are looking at when they're trying to time a trade. But there went a long term investor wants to see in a long or short and that Facebook report, you know, they they basically came out and said this tree is no longer growing in the sky, and eventually valuation matters valuation. Does matter a lot at the big tops. Stocks are always way way too expensive. And at the big bottoms. They're always way too cheap. But in between people just don't think about valuation, and and we don't overall in the overall market. We don't either like I said ninety percent of time ninety nine percent of the time, you know care. But you you care a lot. Now, I promise is you're gonna start carrying during bear markets copies of Ben Graham's book, the intelligent investor and he's like the father value investing. If you don't know, Ben Graham is copies of his books. Fly off the shelves in bear markets. Because all of a sudden everybody's worried about what things are worth. And they weren't worried. You know, they didn't care on the way up and now they care on the way down, and you know, it's why said in in bear markets, you ought to, you know, one of the best ways to handle them is to have been value investor all along. Anyway, you know, maybe the under performing the way up, but you, you know, you outperform on the way down when everybody else is getting obliterated because you've been careful to buy things that are selling it at discounts that that people are less interested in. So I I wanna do hearing me back in the fundamental direction. Yeah. You know, one of the things I wanted to mention is that I think if value in..

Ben Graham Mike Porter Facebook five ten fifteen percent ninety nine percent ninety percent
"ben graham" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:15 min | 3 years ago

"ben graham" Discussed on Bloomberg Radio New York

"Make this transition from what looks like special situations investing to really quantitative investing short while i'm glad you brought it up that way so i wrote a book called the little book that beats the market and we don't think of ourselves as quantitative investors although in the little book that beats the market we use some simple quantitative methods to show people concepts of ben graham said by cheap his best students a guy named warren buffet who said if i can buy good business cheap even better and that made him one of the richest peoples in the people in the world and we have used that philosophy that's what teaching at columbia that's what we've used to make money over the last thirty seven years buying good and cheap businesses and wanted to share that with everyone else and so we ran a statistical tests just to show that just using crude metrics for cheap and grew crude metrics for good and crude metrics for a include database that we could do very well and so that's what we showed the magic formula and we said the measure formula only really has two parts cheap and for cheap we really ranked companies based on a simple metric that was earnings before interest in taxes to enterprise value and i usually described that as rent so in other words rent you're buying a house and the rescue million dollars and your job is to figure out whether that's a good deal or not so there is fairly simple questions you'd ask if you're trying to figure that out one would be if i rented out this house how much could i get for it after my expenses return on capital no so return on capital would be how the business investments own money it's really as the investor what price do i have to pay for the house and how much is it going to earn me as an investor it's my return on capital but i don't want to confuse that with how the business itself invested money which is really how i look at return on capital there's so it's really return on.

ben graham warren buffet thirty seven years million dollars
"ben graham" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:49 min | 3 years ago

"ben graham" Discussed on Bloomberg Radio New York

"Make this transition from what looks like special situations investing to really quantitative investing short while i'm glad you brought it up that way so i wrote a book called the little book that beats the market and we don't think of ourselves as quantitative investors although in the little book that beats the market we use some simple quantitative methods to show people concepts of ben graham said by cheap his best students a guy named warren buffett who said if i can buy good business cheap even better and that made him one of the richest people's in the people in the world and we have used that philosophy that's what i teach at columbia that's what we've used to make money over the last thirty seven years buying good and cheap businesses and wanted to share that with everyone else and so we ran a statistical tests just to show that just using crude metrics for cheap and grew crude metrics for good and crude metrics for a crude database that we could do very well so that's what we showed in the magic formula and we said the measure formula only really has two parts cheap and for cheap we really ranked companies based on a simple metric that was earnings before interest in taxes to enterprise value and i usually described that is rent so in other words red you're buying a house and the rescue million dollars and your job is to figure out whether that's a good deal or not so there is fairly simple questions you'd ask if you're trying to figure that out one would be if i rented out this house how much could i get for it after my expenses return on capital no so return on capital would be how the business invest its own money it's really as the investor what price do i have to pay for the house and how much is it gonna earn me as an investor it's my return on capital but i don't want to confuse that with how the business it self invests money which is really how i look at return on capital so there's so it's really return on investment two similar companies how cheap is a relative to all companies how cheap is it relative to history that's what we do at gotham but for the purposes of the.

ben graham warren buffett gotham thirty seven years million dollars
"ben graham" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:47 min | 3 years ago

"ben graham" Discussed on Bloomberg Radio New York

"Town and you want to figure out something smart to do with it so you analyze all the businesses downs let's say just hundreds of business and you stick to you find businesses where the management's really good the prospects for the business or good it's run well they treat shareholders well and you divide your million dollars between eight businesses that you've researched well in town minute for the valuation of our homes people would lose their mind they wouldn't be able to manage it so that understanding if you had a theory of buying homes i'm going to buy the ones that went up the most last months or six months i mean it's a really good analogy i usually use the house analogy when people ask me how do we go about valuing stocks and people understand it completely when they're buying a house there's certain things you would do and we don't do any different than owning a business that makes a whole lot of sense show now let me tack to what you're doing currently so whereas you previously returned a bunch of money to investors in hedge funds and saying hey we we don't think there's a this can scale enough that we can keep generating these returns for you now you're you're going the opposite direction and saying okay we're gonna look for something that can't scale so tell us a little bit about the gotham index plus portfolio we were talking earlier off line about passive versus active this is a little bit of both right so we didn't run outside money until again after we returned it all in ninety four we ran our inter we had been lucky enough to keep our staff run our internal money but in and how long did you do that for fourteen years and then in two thousand nine we started taking outside money again and it was really really starts really back when i was in business school and i had read that article about benjamin graham and actually did a study with a couple of my classmates rich pacino who's a famous money manager now and boost burke who still a good friend of mine and we did some work on ben graham's formulas and we ended up doing a.

gotham index benjamin graham burke ben graham million dollars fourteen years six months
"ben graham" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:58 min | 3 years ago

"ben graham" Discussed on Bloomberg Radio New York

"Hand raised in my classic columbia every year at least for the last five six years a student will raise their hand and sort of say hey joel congratulations on a nice thirty five or thirty seven year career but isn't the party over for us there's more computers ability to quench numbers hedge fund smart people doing this stuff you know are we going to have the same chances that that you have and so my students are second year nba's roughly twenty seven years old on average so i tell this is the way i answer i say i'll tell you what why don't we just go back to when you guys learned how to read let's take a look at the most followed market in the world that would be the united states let's look at the most followed stocks within the most followed market in the world those would be the s and p five hundred stocks and let's take a look at what's happened to the s and p five hundred since you guys you know learn how to read so i take them back twenty years when they were seven years old and i say from nine hundred ninety seven to two thousand the sp five hundred doubled from two thousand or two thousand two would have from two thousand to two thousand seven at doubled from two thousand seven to two thousand nine hundred half and from two thousand nine hundred today it's roughly tripled mitch's which is my way of telling the people are still crazy and it's way understating the case because the s and p five hundred seven average of five hundred companies if you lift up the covers and look at the dispersion going on between those five hundred companies between which are in favored any particular time in which are out of favor the the price movements are much wilder than what the average of five hundred companies doubling in having doubling and having that doesn't even begin to tell the story so if you drew a horizontal line and cold that fair value like ben graham said and then you draw a wavy line around that horizontal line and call that stock prices the market is pitching us opportunities all the time between stocks that are way below fair value and way above fair value the reason investors don't beat the market has nothing to do with the.

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"ben graham" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:45 min | 3 years ago

"ben graham" Discussed on Bloomberg Radio New York

"We got prince minute by minute for the valuation of our homes people would lose their mind they wouldn't be able to manage it so that understand if you had a theory of buying homes i'm going to buy the ones that went up the most last months or six months i mean so really good analogy i usually use the house analogy when people ask me how do we go about valuing stocks and people understand it completely when they're buying a house there's certain things you would do and we don't do any different than owning a business that that makes a whole lot of sense so now let me tack to what you're doing currently so whereas you previously returned a bunch of money to investors in hedge funds and saying hey we we don't think there's a this can scale enough that we can keep generating these returns for you now you're you're going the opposite direction and saying okay we're gonna look for something that can scale so tell us a little bit about the gotham index plus portfolio we were talking earlier offline about passive versus active this is a little bit of both right so we didn't run outside money until again after we returned it all in ninety four we ran our inter we had been lucky enough to keep our staff and run our internal money but in and how long did you do that for fourteen years and then in two thousand nine we started taking outside money again and it was really really starts really back when i was in business school and i had read that article about benjamin graham and actually did a study with a couple of my classmates rich pacino who's a famous money manager now and boosts newburgh who still good friend of mine and we did some work on ben graham's formulas and we ended up doing a.

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"ben graham" Discussed on We Study Billionaires - The Investors Podcast

We Study Billionaires - The Investors Podcast

02:02 min | 3 years ago

"ben graham" Discussed on We Study Billionaires - The Investors Podcast

"Rice is rising and so you're going to start moving towards a current account deficit and if you go into current account deficit china with your banking system at cetera your debt position the way it is that's going to be a problem you're gonna have to burn down affects reserves eventually you'll have a currency crisis y'all to devalue on you'll set yourself back decades in terms of the development of the country over the last couple years what the oil and gold contracts china circumventing that whole process by going direct to the key oil exporters and saying will pay anyone we've affectively real anna brenton wood's gold window in yuan at a floating gold price at shanghai at the sgi shanghai golden or national board starting in three to four team they then linked that to hong kong in three q fifteen they and opened another yuan gold contract and dubai in early seventeen and so now china has a a second level rather than just burning down fx reserves as a means of defending their currency if they were to move towards or actually get into a current account deficit position now they can go to their exports willing to sell oil and other commodities and you want and adjust the gold oil ratio at which they are doing business and in so doing manage their oil and other commodity import bill which given that the import bill is such a big part of you know imports for them allows them to them manage their current account in a way that they have control over their current account and not it's not your purely based on what the dollar is doing so luke i read somewhere i can't remember which book this was in of ben graham's but i read somewhere that ben graham suggested that the best way to pay a currency is to do a commodity like index like peggy to oil peg it to all these different commodities not just gold like we had done in the past i'm curious is that kind of what you think you're seeing.

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"ben graham" Discussed on AM 1300 Business Radio KKOL

AM 1300 Business Radio KKOL

02:44 min | 3 years ago

"ben graham" Discussed on AM 1300 Business Radio KKOL

"Following program fees for educational purposes only and any investment advice given may not be suitable for all investors the now here's mike so we're going to be talking about money today as we do on each of these programs you know the market was down a thousand 33 today it's been down at 1000 on monday it was down six hundred and sixty six last friday i believe it's been down five or six times over the last seven days so what's going on i mean this kind of makes me happy when you see this happening you start to wash out the people who are the weekends is third washout the momentum players start washout the people who are shortterm players and he could down to the real investors in the market for longterm it's it's good to have these shakeouts every once in a while and what complicated in these days is if you look at what happened to boeing a couple of days ago boeing stock dropped twenty points in a minute deaths not humans selling their stock that's computer trading i've done a couple shows on computer trading will probably do another win before this this year's over it's it's something that we live with an over half the trades that are made on the exchanges now are done strictly by computer the respond much faster the respond instantaneously to news and this by itself and they sell in small increments that's that's a program will pick up later on jaffe syndicated columnist who does a column for the seattle times wrote a column this last last sunday that said did you pick the right financial advisor we're gonna talk about their column because a believe a lot of it is really correct i believe there's a lot of truth to it and indeed stays with the market doing what it's doing it may be a time for you to examine did you pick the right financial advisor my guest today is somebody that's that's got a very interesting story to tell a very healthy store to tell it's something you one of this into what she has to say to so eight years ago eighty years ago ben graham told a story he actually wrote a book called security analysis it's a book could still valid today the invest in principles are still valid it's one of those classic books that investment financial advisers and investment people read security analysis by ben graham was a classic in 1930 fourstar classic today.

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"ben graham" Discussed on The Meb Faber Show

The Meb Faber Show

01:31 min | 3 years ago

"ben graham" Discussed on The Meb Faber Show

"It's one of those funny things where ben graham said thirty stocks the academic literature assists thirty stocks attends at thirty stocks is about right if you test but the the reason for concentrated investing was it it looked at the kelley criterion so kelly has become very popular sort of white a size for value guys because buffet endorsed it kelly's basically looking at how much you should bit of your bankroll how much you should put into any given stock and it it it depends on what you think your edges what the odds that you can kind of compute from and it's a mathematical calculation and it's been popularized by managed per brian a few of the gaza like that it thought he lives in los angeles his son went along to a value in congress set in pasadena and he said everybody is talking about the kelly criterion which you sort of with the first person to use an an and popularise and say it full brought this mathematical proof showing that the analysis that the value guys we using was wrong basically the faithful thing to do in beijing using the kelly criterion east over bit you never wanna over bit so at the kelly criterion does described the outer limit of how much you should bit anything west night as i k but you want to seize your opportunity is when you get them so you want wanna bet up and he said that basically people were of betting because they're not taking account of how difficult it is to make this calculations in real it's not a mathematical calculation to iran it doesn't account for black swans.

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"ben graham" Discussed on We Study Billionaires - The Investors Podcast

We Study Billionaires - The Investors Podcast

01:51 min | 4 years ago

"ben graham" Discussed on We Study Billionaires - The Investors Podcast

"And to basically in oh compile them into a book and perhaps like provide a little bit of commentary but you know basically to make it a compilation mike uh you know i teach investing at a columbia on the side and like as a part of that i have collected a like a lot of these activists letters and and and i give them to my students uh for readings and so that's the way that the idea began and you know it ultimately he turned into a history book keno to on the narrative history that a you know revolves around these eight cases with ross perot and gm and and ben graham and and in the northern pipeline company in a buffet american express it is a narrow topic right i mean you know shareholder activism is not a something that to lots of people pino care too much about and you know i tell this history but you but i try to use that as a launching point you know for broader discussions about business you know i have to admit having read through the book the stories about ross perot and whenever he not a seat on the board i do those were so funny late listening the some of the stories in like the stupidity that he had to put up with whenever he was on the board uh the history of gm is just incredibly rich right and so there was to be able to kind of like to tell the story of the of the rise of gm than the decline of gm and then the involvement of perot it gave me the opportunity to to impart like a lot of business lessons and to use these extremely entertaining people like of ross perot in the process of doing it.

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