Research

“Value” in “Value Stock” is derived through Equity Research

A Value Stock is one that was vetted through the process of Equity Research to provide adequate Margin of Safety. The goal of equity research is to estimate the intrinsic value of a stock. As illustrated in the chart, the difference between intrinsic value and the purchase price of a stock drives Margin of Safety. […]

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Robo Advisors to the Rescue?

  I am sharing an older WSJ article on Robo advisors below – seems to be the “rage of the day” in the investment market. I have not studied each individual Robo advisor strategy in detail yet, but my first impressions are: 1) Robo advisors aim to shift the focus from stock (or security) selection […]

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Why Value Investing in Technology is Difficult for Generalists

This chart from my book dissects “Company Fundamentals” into “Business Model” and “Industry Dynamics”. While a generalist value investor would be capable of understanding the business model of a technology company, she may not fully understand the influence that various industry dynamics might have on the company’s business model. This affects the process of assessing […]

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Equity Research for the Technology Investor - Value Investing in Technology Stocks