Index:

Value Investing

Investor behaviour, psychology and thinking

Market Comments

Investment Ideas

Investment Blogs

Other

 

 


 

Value Investing


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

 

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

 

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.

 

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.

 

Zulauf Asset Management

Swiss asset manager and member of the yearly Barrons round table discussion group. Good investing articles and market outlooks. In English and German.

 

Brandes Investment Partners

Very good value fund manager which publishes excellent investment research.

 

 


 

Investor behaviour, psychology and thinking

 

Daniel Kahneman

Daniel Kahneman is a psychologist and the co-creator of behavioural economics. In 2002 he along with his late collaborator Amos Tversky won the Nobel Prize in Economics

This is a worthwhile summary of his experiences and research. A short course in Thinking about thinking

 

James Montier

James is an equity strategist at Societe Generale in London. The link is to his blog which has a few excellent articles. A collection of his previous published research can be found in his book Behavioural Investing: A Practitioners Guide to Applying Behavioural Finance

 

 


 

Market Comments

 

Hussman Funds Weekly Market Comment

Clear and concise comments on the developments in the US markets. Less focus on noise and more on the underlying valuation. I read it every Monday morning.

 

GMO (Free registration may be required)

GMO, founded in 1977, is a privately held global institutional investment management firm. Jeremy Grantham writes an excellent quarterly letter. Look out for it about three weeks after quarter end.


Financial Times Lex Column (Paid subscription may be required)

Th Lex column of the Financial Times has made a name for itself by providing excellent summaries of the most pertinent market news items and earnings releases. They also publish excellent industry summaries.

I read somewhere that the investment track record of the column has also been excellent.

I read the column to stay informed of the main news items moving impacting the markets.

 


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Investment Ideas

 

Value Investors Club (Free registration required)

Wonderful website where investment ideas are exchanged, mainly by hedge fund managers.

 

Magic Formula Investing (Free registration required)

Share screener based on the excellent book of the same name written by Joel Greenblatt. Good for investment ideas of high return companies selling for low prices.

 

Magic Diligence (Blog and paid subscription service)

Really worthwhile blog that comments on the Magic Formula Investing screen results. Has a subscription part that searches and recommends the best Magic Formula companies.

 

Magic Formula Investing Europe (Subscription service)

Stock screener using the Magic Formula Investing rules to screen the 3 major stock markets in the US, UK and Europe.

 

 



Investment Blogs

Below is a list, in no particular order of blogs we follow.

 

Old School Value

Excellent blog with US focus. With good analysis and explanations of value investing principles very well.

 

The Big Picture

Outstanding blog on the US markets giving the news behind the spin. In depth analysis of current news events and statistic releases.

I once ignored the blog because of the amount of posts but after reading a few articles I realised that everything is of value.

 

Value Investing Forum

Aggregator for all value investing news articles on the web. Mainly a US focus.

 

Value Investing News

Value Investing News is a community driven value investment blog with good articles on all things linked to value investing. US focus.

 

Investment Postcards from Cape Town

Do not let the South African location of this blog fool you. Posts are mainly US focused but decent coverage of the rest of the world as well. Its weekly post called Words from the (investment) wise that was is highly recommended as the most consice summary of the weeks economic releases and commentary that I have come accross

 

Interactive Investors Blog

Blog with a UK investors focus with excellent articles also with a value investing slant.

 

Controlled Greed

Is a blog devoted to investing in undervalued stocks with a global focus.

 

 


 

Other


Footnoted

Watch-Dog on aggressive accounting and poor corporate governance with focus on the USA.