Analysing one annual report at a time
"A great company is not a great investment if you pay too much for the stock." - Benjamin Graham I love cheap stocks, and if the company is also good, that's even better. Once I finished valuing Berkshire Hathaway, I needed to find companies to research next, so I decided to use a share screener to search for …
Before I start writing about the annual reports I read I want to let you guys know about my personal biases (because you might not share them) and about what kind of companies I look for... To put it simply, my personal biases are: I hate debt; I like dividends; I love discounts. I hate …
When asked how he became so successful in investing, Buffett answered: "We read hundreds and hundreds of annual reports every year.” When I was a teenager I liked to play chess, but no matter how many books I read, my level of play didn't seem to improve. They were either for beginners, or too advanced …
