Pearl or Moat?
Imagine you found a pearl – a stock that is priced at 50 but you think is worth 100. Assuming value is normally distributed around 100, with standard deviation σ=20, you think there is an 89%...
View ArticleClik here to view.
Coke’s Moat
According to the Efficient Market Theory, Mr. Market knows everything. Market prices reflect all there is to know and are always where they should be: only news – unknowable in advance, by definition –...
View ArticleClik here to view.
A moat question
In a one-period valuation model the company grows at a constant rate, now and forever, and its Franchise Value – if it has one – is based on a constant and permanent spread between its return on equity...
View ArticleClik here to view.
The lady tasting beans
A cynic’s definition of a value investor: someone who seeks to buy at 40 cents a business that is worth a dollar and to invest in a business that is able to charge a dollar for what is worth 40 cents....
View Article
