The market likes consistency in operations, but intelligent investors should also consider consistency in disclosures. The more consistent a corporation’s disclosures, the easier it is to make comparisons and determine the true state of the company’s performance. When companies suddenly change their disclosures without providing a concrete rationale for the change, investors should be worried that there is some bad news being covered up. Indeed, many of the accounting gimmicks covered in the excellent Financial Shenanigans: How to Detect . . .
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The following lecture by Kathryn Staley, author of The Art of Short Selling was passed along via twitter. She covers her start in short selling and the things she looks for in finding good short sale candidates. She also gives a number of great examples from her experience shorting. One thing I . . . Yesterday, Spanish telecommunications juggernaut Telefónica SA (NYSE: TEF) announced that it will be giving its shareholders the choice between accepting the upcoming dividend in cash, or in shares as a scrip dividend. Normally, I wouldn’t make note of something this mundane, but I was caught off guard by this statement by the company’s Chairman (emphasis mine): Over the course of the Shareholders’ Meeting, which was held in Madrid, the Chairman of Telefónica and its Board of Directors, César Alierta, presented a . . .
A Modern Approach to Graham & Dodd Investing By Thomas Au
Today I am reviewing A Modern Approach to Graham & Dodd Investing. Read my other book reviews here. Thomas Au is . . . For some Friday fun, I thought I’d take a look at the returns on investment for each Monopoly tile. The first chart shows the purchase price, cost to build a house and hotel, and the associated rents of each property:
Monopoly Base Case With this starting point, we can then calculate the return at each level of investment. I have added a heat map to each column . . . |
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