PiggyBack (@HiddenValueCom) header
PiggyBack (@HiddenValueCom) profile picture

PiggyBack

@HiddenValueCom

PiggyBack value investing strategies and value stocks 🌐. For long-term investors old and new. By @ValueEklund. Welcome to join us for free https://xitter.gq/t.co/mO2vPBcEXC!🐖🐖🐖

 Sweden
piggyback.one
Joined May 2022
  • Tweets269
  • Following278
  • Followers415
As value investors, we can try to reduce making large errors in stressed markets. One way is by reducing the puzzle to good old boring fundamentals.
1
2) Eventually, a cool head if we reach truly depressed valuations, in absolute and intrinsic value discount terms. There we need it to buy bargain opportunities as aggressively as allowed for by risk mandates and prudence.
1
1) Initially, a cool head NOT to buy: Here we must avoid relative “value” trades that only anchor on percentage drawdowns from peak valuation, or on relative multiples vs peer #investments. But also #valuetrap:s, with deteriorating absolute fundamentals and no clear catalysts.
1
1
2) Follow Damodaran into a #ESG hornet's nest But all want "good"? Right? Well, capitalism is messier + less black/white than painted by consultants and populists (both sides) @AswathDamodaran's refreshingly frank presentation (think inverse TED talk): youtu.be/zyjGyiahu3E
1
2
The stock market's surface lays still after a summer recovery rally. So things are rosy? Not really. Long-term investors face fundamental undercurrents. Especially in U.S. stocks. Medium-term we have an inflation problem. PS: There is hope🌐 Read "Beware Of Undercurrents" ⬇️
1
1
1
4
Are you a long-term, common sense stock market investor? Our publication will PiggyBack on proven and promising value investing. We offer learning and global value stock ideas. 1️⃣We offer a free weekly letter. Join us(!)🐖🐖🐖 2️⃣Follow 📻| RT/Share 📢| Like 💚 @PiggybackStocks
Go to https://piggyback.one (just enter "piggyback" dot "ONE" in a safe browser or search engine) to join PiggyBack's free edition stock market newsletter and learn more about value investing. (Image shows PiggyBack's logo)

ALT Go to https://piggyback.one (just enter "piggyback" dot "ONE" in a safe browser or search engine) to join PiggyBack's free edition stock market newsletter and learn more about value investing. (Image shows PiggyBack's logo)

1
1
2
SEEING VALUE OPPORTUNITIES IN OTHERS Eventually, the more lasting result of Heilbrunn's value investing experiences, with Graham and on his own, became his ability to recognize the long-term investor potential in some of his peers.
“He put money into Buffett’s partnership a year or so after it started, and he also entrusted some funds to Schloss after initially deciding against it. In later years he added other prominent value investors to his portfolio of managers. These decisions paid off handsomely, and Heilbrunn was able to retire, more or less, from direct active investing.” — On Robert Heilbrunn in Value Investing: From Graham to Buffett and Beyond, 1st ed. (2001), by Bruce Greenwald, Judd Kahn, Paul Sonkin, Michael van Biema

ALT “He put money into Buffett’s partnership a year or so after it started, and he also entrusted some funds to Schloss after initially deciding against it. In later years he added other prominent value investors to his portfolio of managers. These decisions paid off handsomely, and Heilbrunn was able to retire, more or less, from direct active investing.” — On Robert Heilbrunn in Value Investing: From Graham to Buffett and Beyond, 1st ed. (2001), by Bruce Greenwald, Judd Kahn, Paul Sonkin, Michael van Biema

1
VALUE MINDSET Still, the human urge to chase bull market story stocks was about as a hard inner battle then, as it was in the recent 2021 roaring bull market:
“The experienced investor as well as the neophyte is influenced in varying degree by the tremendous quantity of bullish sentiment in the form of newspaper and magazine articles, speeches, reports, analyses and the like, which emanate from the financial district... It is especially important and very difficult in such times not to be influenced by these pressures from sticking to fundamentals and continuing to make decisions strictly on the basis of the facts.” — Robert Heilbrunn Source: Robert Heilbrunn (1958). A Practical Approach to Common Stock Valuation, Financial Analysts Journal, 14:2, p. 49–51.

ALT “The experienced investor as well as the neophyte is influenced in varying degree by the tremendous quantity of bullish sentiment in the form of newspaper and magazine articles, speeches, reports, analyses and the like, which emanate from the financial district... It is especially important and very difficult in such times not to be influenced by these pressures from sticking to fundamentals and continuing to make decisions strictly on the basis of the facts.” — Robert Heilbrunn Source: Robert Heilbrunn (1958). A Practical Approach to Common Stock Valuation, Financial Analysts Journal, 14:2, p. 49–51.

1
Now, 1929 was one of modern history’s worst times to start managing U.S. securities. And Heilbrunn lacked experience. Heilbrunn’s father had however mentioned one investment advisor to trust: Ben Graham.
"At first he seemed very cold. After all, people were jumping out of windows and selling apples in the street and I think he was afraid I was going to ask him for a loan. When he found out that all I wanted was investment advice, he agreed to help me." — Robert Heilbrunn on approaching Benjamin Graham to become his investment advisor Source: Columbia University speech in 1993

ALT "At first he seemed very cold. After all, people were jumping out of windows and selling apples in the street and I think he was afraid I was going to ask him for a loan. When he found out that all I wanted was investment advice, he agreed to help me." — Robert Heilbrunn on approaching Benjamin Graham to become his investment advisor Source: Columbia University speech in 1993

1
Warren Buffett, Benjamin Graham, and Walter Schloss. One man invested with them all early on. Long before track records and teachings made them, more (Buffett) or less (Schloss), household value investing names. The man was Robert Heilbrunn. So what can we learn from him? ↓
An Original PiggyBack Investor “Knowing when other full-time investors are likely to outperform your own part-time efforts may be the most fundamental of all value insights.” — On Robert Heilbrunn in Value Investing: From Graham to Buffett and Beyond, 1st ed. (2001), by Bruce Greenwald, Judd Kahn, Paul Sonkin, Michael van Biema

ALT An Original PiggyBack Investor “Knowing when other full-time investors are likely to outperform your own part-time efforts may be the most fundamental of all value insights.” — On Robert Heilbrunn in Value Investing: From Graham to Buffett and Beyond, 1st ed. (2001), by Bruce Greenwald, Judd Kahn, Paul Sonkin, Michael van Biema

1
3
1
6
Vonheim Why listen? "Curious interviews about businesses of the seas." — @PiggybackStocks @ChrisVonheim Category: #business / #curiosity 18/X
Vonheim Why? Curious interviews about businesses of the seas. What? This Norwegian business podcast is interesting. With great curiosity, Mr. Vonheim explores and educates by interviewing a mix of decision-makers and specialists in maritime industries. Plus some international investing and start-ups. Also one of PiggyBack's few Recommendations for international, quality investing-related podcasts based in the Nordics. For who? Novice-level investors (and up). If not curious about some of the more niche maritime or Nordics-focused episodes, just check out the archive. Geography/Asset Class: Maritime sector focus with a clear tilt to Norway / Multi-asset

ALT Vonheim Why? Curious interviews about businesses of the seas. What? This Norwegian business podcast is interesting. With great curiosity, Mr. Vonheim explores and educates by interviewing a mix of decision-makers and specialists in maritime industries. Plus some international investing and start-ups. Also one of PiggyBack's few Recommendations for international, quality investing-related podcasts based in the Nordics. For who? Novice-level investors (and up). If not curious about some of the more niche maritime or Nordics-focused episodes, just check out the archive. Geography/Asset Class: Maritime sector focus with a clear tilt to Norway / Multi-asset

1
4
Load more