Value Investing is an investment the strategy of selecting shares that are trading at less than their intrinsic value. In other words, Value Investors actively look out for shares of companies that they believe have been undervalued by the market.
Value investors believe the market overreacts to both positive and negative news, resulting in stock price movements that do not correspond with the company's long-term fundamentals. The result is an opportunity for Value Investors to profit by buying when the share price is low.
For the history of Value Investing, see our articles on Benjamin Graham and Warren Buffet.
This article lists (in our opinion) the best articles on the web to more fully explain and expound on the theory of Value Investing.
This is an excellent beginner’s guide to all aspects of investment and trading. It offers definitions of the various terms in layman’s language, and also offers a comprehensive description of the theory of Value Investing.
2. Buffett Secrets
A very good website detailing how Warren Buffett made his money. Buffett uses the basic principles of Value Investing, so this is a good introduction to the principles that Buffett employs in his investment strategy.
Wikipedia does not disappoint in its coverage of the basics of Value Investing. The benefit of Wikipedia is that it contains links to other terminology used in the parlance of the investment world.
Excellent introductory articles about Value Investing, as well as all sorts of information relating to investing in general.
For Value Investing, go to: http://beginnersinvest.about.com/od/valueinvesting1/Value_Investing.htm
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1. Columbia Business School Walter Schloss Archives
A wonderful source of information on a lot of the successful value investors as well as worthwhile articles
Columbia Walter Schloss Public article archive
Columbia Walter Schloss Public video archive
2. Tweedy, Browne Company LLC
Tweedy is probably the oldest fund management company that practises value investing. They have a lot of really good papers and speeches on their website.
Tweedy Brown Papers and Speeches
The paper "What Has Worked In Investing" is especially worth reading.
3. Davis Funds
Davis Funds is a successful third generation fund management company. A really good article called “The Wisdom of Great Investors” is a worthwhile read for any investor.
4. Tilson Funds
Whitney Tilson is a value based hedge fund manager. His website is a valuable collection of value investing articles and excellent summaries of the Berkshire annual meetings. He regularly writes for publications like the Financial Times and Kiplinger.
5. Zulauf Asset Management
A Swiss asset manager and member of the yearly Barrons round table discussion group. Good investing articles and market outlooks. In English and German.
6. Brandes Investment Partners
A very good value fund management company that publishes excellent investment research.
Other interesting Value Investing articles can be found by clicking here
P.S. The best investing books you can read
A lot of readers have asked me for the names of the best investment books I have read.
In order to best answer their questions I wrote an article you may also find of value. To go to the article simply click the link below:
Nine books every investor should read