Dirtcheapstocks
@dana71cTrying to find cheap stocks. Win or lose, I must enjoy the journey. Not investment advice.
Here's one. A Well-Capitalized Bank Trading at 18% of Book Value Find it in the usual place.
One of my favorite investing stories. An engineer finds a stock trading at: - 1x earnings - 18% of net cash. He has one of the best track records you'll ever see. 33% CAGR for 11 years. The legend of Dan Schum. His entire blog is a must read.
Is this cheap enough? 12% Dividend Yield, 80% EBIT Margins, Durable Business, 7x Earnings. Find it in the usual place.
I like that Geoff Gannon quote where he says you can make life easier by avoiding anything above 10x revenue. To be clear, a bunch of folks made a bunch of money breaking this rule. But it doesn’t work for me. I find it far easier to…
go buy some stable business at 3x earnings. And with a small capital base there are dozens of opportunities. - low earnings multiples - special sits (arbs, changing business models, spins, divestitures) - liquidations - info arb - businesses where nobody is doing real work
It’s endless. Things always pop up. The Twitter crowd may have you believe otherwise, but if you dedicate your working hours to this craft there are plenty of inefficiencies. May not be true if you’re managing $100mm. But it’s true if you’re broke, like me.
My Net-Net Strategy Cash rich, consistently profitable, debt free net-nets. Find it in the usual place.
Larry Goldstein achieved a 16% CAGR over 40 years. Joe Raymond saw the legend first hand and shares his experience. "Letters to Partners" was the best book I read this year.
Here's an early Warren Buffett investment. A Graham style net-net. Timely Clothes - 1951 - $1.8MM market cap - 6.4x Earnings - 59% of NCAV - 7.7% Dividend Yield
In un mondo dove tutti siamo di corsa.. esere sempre te stesso. .unico! Buongiorno.
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