The Intelligent Investor: The Definitive Book On Value part 5 pot

... P”) and the Wilshire 50 00 index. The S & P focuses on 50 0 large, well-known compa- nies that make up roughly 70% of the total value of the U.S. equity market. The Wilshire 50 00 follows the returns ... fur- ther and assert that in an astonishingly large proportion of the trading in common stocks, those engaged therein don’t appear to know—in polite terms—one part...

Ngày tải lên: 04/07/2014, 15:20

... vs. speculation, 20–21, 21n; managing of, 12–13, 53 5, 53 5n; and margin of safety, 51 5, 51 6, 52 1–22n, 52 2, 52 5–26, 52 8–29; and market fluctuations, 188, 219; and price, 17, 122; and return/reward, 89, 54 6–47; ... funds, 4, 47, 89, 231, 232, 2 35, 258 59 , 259 n Tversky, Amos, 151 , 221 Tweedy Browne Partners, 397, 54 2, 54 3–44, 55 1 two -part appraisal process, 299–301...

Ngày tải lên: 04/07/2014, 15:20

... the rejection of the stronger income-bond form is a fascinating illustration of the way in which traditional institutions and habits often tend to persist on Wall Street despite new conditions ... also pay on the common. On the other hand, the typical pre- ferred stock carries no share in the company’s profits beyond the fixed dividend rate. Thus the preferred holder l...

Ngày tải lên: 04/07/2014, 15:20

... be sure, a transaction fee of $4 takes a monstrous 8% bite out of a $50 monthly investment—but if that’s all the money you can spare, then these microinvesting sites are the only game in town ... 1 that the definition of an “enterprising” investor depends not on the amount of risk you seek, but the amount of work you are willing to put in, Graham falls back on the conventiona...

Ngày tải lên: 04/07/2014, 15:20

... years. There were a number of such issues in the early 1940s, as a consequence of the long depression of the 1930s. During the postwar boom period of 19 45 1947 many of these large accumulations ... of these issues may prove excellent buys—a few years later, when nobody wants them and they can be had at a small fraction of their true worth. In the 19 65 edition we continued our dis...

Ngày tải lên: 04/07/2014, 15:20

... 1 957 Dec. 1 959 New York S.E. 35 $ 748 $ 419 $ 838 American S.E. 25 4 95 289 492 Midwest S.E. 5 163 87 141 Over the counter 20 4 25 288 433 Total 85 $1,831 $1,083 $1,904 favorable 1 958 –71 record the ... with only one small decline over the entire period. Its book value was about equal to the market price. With this conservatively 168 The Intelligent Investor the e...

Ngày tải lên: 04/07/2014, 15:20

... himself to be confused or compromised in this basic deci- sion. 178 The Intelligent Investor 19 95 1996 1997 1998 1999 General Electric Revenues ($ millions) 43,013 46,119 48, 952 51 ,54 6 55 ,6 45 Earnings ... is to buy them only when obtain- 176 The Intelligent Investor 184 Commentary on Chapter 7 HIGH POTENTIAL FOR HYPE POTENTIAL Investors aren’t the only people who fall p...

Ngày tải lên: 04/07/2014, 15:20

... and other professional investors are saddled with: • With billions of dollars under management, they must gravitate toward the biggest stocks the only ones they can buy in the multimillion-dollar ... people in the investment business regard them with the contempt nor- mally reserved for jokes that aren’t funny. beats the S & P 50 0 and you don’t. No one’s gravestone reads “HE...

Ngày tải lên: 04/07/2014, 15:20

... Dividend Value (thousands) Issue Price 1969 1969 (millions) 60 Teleprompter 99 $ .99 none $ 6.0 190 Deltona 60 1 ⁄2 2.32 none 11 .5 280 Fedders 34 1.28 $ . 35 9 .5 1 05 Horizon Corp. 53 1 ⁄2 2.68 none 5. 6 150 ... based on the sum of one share of each of the ten funds. These companies had combined assets of over $ 15 billion at the end of 1969, or about one-third of all th...

Ngày tải lên: 04/07/2014, 15:20

... investors. Certain common-sense considerations relate to the criterion of normal or standard results mentioned above. Our basic thesis is this: If the investor is to rely chiefly on the advice of others in ... beyond that—and they do strive to better the goal—they regard in the nature of extra service ren- dered. Perhaps their chief value to their clients lies in shielding them...

Ngày tải lên: 04/07/2014, 15:20