It is difficult for most investors to believe that the stock market is actually smarter or better informed than they are. – Malkiel & Ellis
— Jason Bond (@bondj008) September 6, 2016
Author: Raoji
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Charlie Munger on Stock Picking
“[In picking stocks] You really have to know a lot about business. You have to know a lot about competitive advantage. You have to know a lot about the maintainability of competitive advantage. You have to have a mind that quantifies things in terms of value. And you have to be able to compare those values with other values available in the stock market.
The number one idea, is to view a stock as an ownership of the business [and] to judge the staying quality of the business in terms of its competitive advantage. Look for more value in terms of discounted future cash flow than you’re paying for. Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.”-Charlie Munger
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Chart: Global Bond Yields
Source:Zero Hedge
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How to get rich today
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Linkfest: September 08,2016
Some stuff I am reading today morning:
ICICI Pru Life gets SEBI nod (BL)
BSE to soon file IPO papers with SEBI (ET)
Yes Bank to launch biggest QIP of 2016 (Mint)
How to choose the right PMS manager (Big Investor)
Research Report: India Electricals (Motilal Oswal)
Top 10 SIP Mutual Funds for 2017 (My Investment Ideas)
Passive investing won’t break the market (Swedroe)
Survivorship Bias explained (Common Sense)
Why top investors love “private placement” deals (Katusa)
Investment ideas at the top of the market (Financial Samurai)