Margin of Safety is by far the best investment book I´ve ever read, and I´ve read all the important ones. Thanks for this great summary, looking forward to that ARK Innovation ETF follow-up/lessons learned for short term investors ;)
Thanks so much for this video Sven. I ploughed through Margin of Safety recently and was nodding along with every page, until I got to the "Full time job" part. That was kinda deflating to hear, right near the end of the book. Really good to hear your take on this!
great:-)) what Klarman does is more than a full time job, but what Buffett does is more about making one decision ever few years and spend the rest of time with family, pretty easy!
Hi Sven, great video! What about using a lazy portfolio like the All Weather from Ray Dalio or the Permanent one from Harry Browne and add/substitute individual picks in the equity portion? Also, any idea about using Jensen's alpha to assess past investor's performance to account for risk taken?
Thanks alot for a great series of a great book review! I was wondering, how do you go about to research a new company in an industry where there are few/none competitors that are publicly listed? I find myself often in this situation. Thanks yet again!
@@Value-Investing The whole essence behind buying a great business is to buy one that has an incredible competitive advantage so its cash flow will never diminish. To determine that, you have to look at its competitors and evaluate the business’ standing in the market. Saying “forget about comparison” is a vacuous advice. Sure, you can just focus on the cash flow but doing so you’re only looking through a tunnel. How can you know it’s a great business without looking at the competition. How do you know it will not lose its market share and subsequently its cash flow without evaluating whether the competitors are growing or not? Anyone can do the math to figure out the current cash flow. The hard part is figuring out the business’s durability. You can only do so by looking at its competitors . Only few people like Warren Buffet and Bill Ackman etc can do it correctly. And, even they have been wrong a few times 😊 You've got to understand the competition. At the end, it's all a competition and the businesses are merely the players. If you want to be a coach (investor/business owern), you've got to understand both the players and the compeittion you're in.
Hi Sven Great content very informative. As a value investor with a long term horizon, how do you generate income to spend on daily expenses and save the rest for investing?
Hi Sven! Very useful video and information as always, thank you! I would like to suggest you one stock to have a look on: Company: ZIM Integrated Shipping Services Ticker: ZIM Country: Israel Market cap: 2,3 billion USD Interesting numbers like: over 4 billion net income in the first 9months of 2022 and over 3 billion in revenue in the past 3 months (over 10 billion in 9months) 0 leverage ratio It seems that the market is avoiding this industry because of the uncertainty. Do you think that the market is too pessimistic about the shipping industry? thanks!
Hi Sven, I outperformed the s&p500 by around 1,5% this year! Does this mean that I am the best investor in the history of mankind or am I overreacting?
This is an excellent example of utube value form my premium. Subscription My 3 adult kids will watch your whole presentation of the book. And I thank you
Can you elaborate on whether your platform will show you your investing choices where are you use a very slow approach with only adding one stock even per year or like your imaginary portfolio on UA-cam where you’re adding and analyzing stocks one or two a week? I am more interested in what you are actually doing not pumping out choices every week or two For U tube I subscribed to the platform but have not been able to use it properly and Will treat myself to resubscription in January
I find the Canadian markets are easier to find long term buy and hold companies because of our abundance of oligopolys that have a very protected most like trains, banks, telecoms, and pipelines. The only sell indicator is if they open up competition to other companies. Also Canada has a very high immigration rate
That is probably the best comment about this video.The other side though is that without real competition canadians are paying too much for what they are getting.As far as immigration allowing people into the country many of whom hate western civilization means canada will be unrecognizable 50 years from now.
@@jimjackson4256 yeah unfortunately you are probably right I do believe from a business perspective it is good but from a societal perspective we are causing alot of damage
I look at the greatest companies and figure out the attributes of that company to screen for and then each bear market I try to buy the best at a discount, rinse and repeat. I have a screen for Costco types, Amazon types and Visa, Mastercard types generally looking at ROCE, Rev growth, BV growth, margins at all 3 stages, Ebit growth. That gives me a great list to then do more complex valuation work. And not all that time consuming.
When you say you have a screen. What type ? Just a spreadsheet ? Do you have a particular program for dcf or other site you use for analysis you can share. Curious. Thx
@@fredwinslow744 There were several screeners available such as on Yahoo Finance and MSN Money etc but I do not know what they currently have available. I use a paid service GuruFocus as it has features I desire. Most online brokerage companies have free screeners you can get access to but they seem a bit limited in features.
Stockbroker 40 years. I set up a portfolio for a young client and about three years into it he called and said he did not like a number of the stocks. He said he wanted to buy companies that he used their products. I said no problem - and he did great, Google- search, Nvidia - streaming, Tim Hortons - he always bought his coffee there etc etc. Buy companies whose product you like. Chances are others will like the product as well.
Worst investment advice ever. Imagine buying any of Kathie Wood overpriced stocks since 2021 just because you liked "innovative" products. It is like Jeremy buying TTCF because he liked frozen vegan food, lol
@@askerzie Ha,ha it was not my investment advice so lets get that straight. And he did great because he saw the use of each product first hand. Wouldn't you want to test out some product before you bought it? Kathie Wood has been dealing with pie the sky concept stocks- very different, friend.
@@askerzie I can but think your comment is from someone who has blown his brains away on stocks and so you want to kick someone- kick yourself not me. I did not get any of my clients in meme stocks, bitcoin, or buying real estate at the peak, just blue chips and clients are satisfied.. Have a nice life friend.
@@Value-Investing yes yes i know. but this person does have a considerable amount of followers. you might want to report it and ID yourself as the real sven
Whats with these bots constantly commenting about their made up financial advisers. It’s getting so annoying. UA-cam has more bots then Instagram these days
Very good Video! I also try to keep it as simple as possible. Right now I am following 30 stocks in my personal Spreadsheet and if the right price is getting hit I get a notification and simply buy :D No stress only great companies. I love this (this year I only bought 2 Stocks, and I am very comfortable with it)
Anything outside of small cap value (with profitability screening) index funds isn’t evidence based. Comparing everything to S&P isn’t a fair comparison considering large cap growth stocks have lower expected returns compared to value or small cap (excluding small cap growth). Why index funds? Because you’re probably not skilled (like 99% of all investors) and rebalancing (very overlooked bias that people don’t rebalance enough). Constantly buying is not just a saying, it’s evidence-based. Over a 10 year period it outperforms waiting for a 20% drop 72% of the time because of the cost of sitting on cash.
Hey Sven just wanted to let you know someone impersonating you on Twitter just contacted me regarding investing in crypto. They are using your name and photo
Margin of Safety is by far the best investment book I´ve ever read, and I´ve read all the important ones.
Thanks for this great summary, looking forward to that ARK Innovation ETF follow-up/lessons learned for short term investors ;)
My pleasure!
Sempre ben druze Sven, grazie per il servizio
Thanks so much for this video Sven. I ploughed through Margin of Safety recently and was nodding along with every page, until I got to the "Full time job" part. That was kinda deflating to hear, right near the end of the book. Really good to hear your take on this!
great:-)) what Klarman does is more than a full time job, but what Buffett does is more about making one decision ever few years and spend the rest of time with family, pretty easy!
I look at cash flow, debt and dividends. If they are good I dig deeper.
Thank you for this book series but also for the very good tip with devro :)
:-)
Please do another book, this series was lit 🔥
What happened to the Canabis hype or the Gamestop's, Robinhood's, AMC's btw.? What was the name for that second hype, I've already forgotten.
meme :-))
Hi Sven, great video! What about using a lazy portfolio like the All Weather from Ray Dalio or the Permanent one from Harry Browne and add/substitute individual picks in the equity portion? Also, any idea about using Jensen's alpha to assess past investor's performance to account for risk taken?
Thanks alot for a great series of a great book review! I was wondering, how do you go about to research a new company in an industry where there are few/none competitors that are publicly listed? I find myself often in this situation. Thanks yet again!
even better, you focus on the cash flows and whether you like them, forget about comparisons.
@@Value-Investing The whole essence behind buying a great business is to buy one that has an incredible competitive advantage so its cash flow will never diminish. To determine that, you have to look at its competitors and evaluate the business’ standing in the market. Saying “forget about comparison” is a vacuous advice. Sure, you can just focus on the cash flow but doing so you’re only looking through a tunnel. How can you know it’s a great business without looking at the competition. How do you know it will not lose its market share and subsequently its cash flow without evaluating whether the competitors are growing or not? Anyone can do the math to figure out the current cash flow. The hard part is figuring out the business’s durability. You can only do so by looking at its competitors . Only few people like Warren Buffet and Bill Ackman etc can do it correctly. And, even they have been wrong a few times 😊 You've got to understand the competition. At the end, it's all a competition and the businesses are merely the players. If you want to be a coach (investor/business owern), you've got to understand both the players and the compeittion you're in.
Thank you!
thanks!
Thanks for video Sven and beatiful summary of this book
Thanks
Hi Sven
Great content very informative. As a value investor with a long term horizon, how do you generate income to spend on daily expenses and save the rest for investing?
For me 10 position are hard enough too keep up, as a retail investor 😂.
:-0
Hi Sven!
Very useful video and information as always, thank you!
I would like to suggest you one stock to have a look on:
Company: ZIM Integrated Shipping Services
Ticker: ZIM
Country: Israel
Market cap: 2,3 billion USD
Interesting numbers like: over 4 billion net income in the first 9months of 2022 and over 3 billion in revenue in the past 3 months (over 10 billion in 9months)
0 leverage ratio
It seems that the market is avoiding this industry because of the uncertainty. Do you think that the market is too pessimistic about the shipping industry?
thanks!
All this Crashy Wood talk makes me wanna go out and buy something high and sell it low now.
:-)))
Hi Sven, I outperformed the s&p500 by around 1,5% this year! Does this mean that I am the best investor in the history of mankind or am I overreacting?
I think you are overreacting :-)))
This is an excellent example of utube value form my premium. Subscription
My 3 adult kids will watch your whole presentation of the book. And I thank you
great:-))
Can you elaborate on whether your platform will show you your investing choices where are you use a very slow approach with only adding one stock even per year or like
your imaginary portfolio on UA-cam where you’re adding and analyzing stocks one or two a week?
I am more interested in what you are actually doing
not pumping out choices every week or two
For U tube
I subscribed to the platform but have not been able to use it properly and Will treat myself to resubscription in January
yes, from January, I'll be investing my money my way, so :-)))
I find the Canadian markets are easier to find long term buy and hold companies because of our abundance of oligopolys that have a very protected most like trains, banks, telecoms, and pipelines. The only sell indicator is if they open up competition to other companies. Also Canada has a very high immigration rate
That is probably the best comment about this video.The other side though is that without real competition canadians are paying too much for what they are getting.As far as immigration allowing people into the country many of whom hate western civilization means canada will be unrecognizable 50 years from now.
@@jimjackson4256 yeah unfortunately you are probably right I do believe from a business perspective it is good but from a societal perspective we are causing alot of damage
Why are you leaving YT in the hottest/most likely bullish times of the year if it comes to the stock market?
???
This was great series. Thank you!
I look at the greatest companies and figure out the attributes of that company to screen for and then each bear market I try to buy the best at a discount, rinse and repeat. I have a screen for Costco types, Amazon types and Visa, Mastercard types generally looking at ROCE, Rev growth, BV growth, margins at all 3 stages, Ebit growth. That gives me a great list to then do more complex valuation work. And not all that time consuming.
When you say you have a screen. What type ? Just a spreadsheet ? Do you have a particular program for dcf or other site you use for analysis you can share. Curious. Thx
@@fredwinslow744 There were several screeners available such as on Yahoo Finance and MSN Money etc but I do not know what they currently have available. I use a paid service GuruFocus as it has features I desire. Most online brokerage companies have free screeners you can get access to but they seem a bit limited in features.
Let's say one can spend 10 hours per week on investing.
How should I allocate them?
Apart from watching these videos 😁
9 hours education, one hour videos, that is about it. O
awesome! thanks again! investment shouldn't be a full time job i agree
Amazing series! Very grateful for the summary!
thanks!
kweb already up 50%, lord have mercy
:-))
Stockbroker 40 years. I set up a portfolio for a young client and about three years into it he called and said he did not like a number of the stocks. He said he wanted to buy companies that he used their products. I said no problem - and he did great, Google- search, Nvidia - streaming, Tim Hortons - he always bought his coffee there etc etc. Buy companies whose product you like. Chances are others will like the product as well.
Worst investment advice ever. Imagine buying any of Kathie Wood overpriced stocks since 2021 just because you liked "innovative" products. It is like Jeremy buying TTCF because he liked frozen vegan food, lol
@@askerzie Ha,ha it was not my investment advice so lets get that straight. And he did great because he saw the use of each product first hand. Wouldn't you want to test out some product before you bought it? Kathie Wood has been dealing with pie the sky concept stocks- very different, friend.
@@askerzie I can but think your comment is from someone who has blown his brains away on stocks and so you want to kick someone- kick yourself not me. I did not get any of my clients in meme stocks, bitcoin, or buying real estate at the peak, just blue chips and clients are satisfied.. Have a nice life friend.
sven there is someone possibly impersonating you on twitter. im getting dm's from it
on twitter, everywhere, look at the other comment there too :-(((
@@Value-Investing yes yes i know. but this person does have a considerable amount of followers. you might want to report it and ID yourself as the real sven
Whats with these bots constantly commenting about their made up financial advisers. It’s getting so annoying. UA-cam has more bots then Instagram these days
it is crazy :-(((
Very good Video! I also try to keep it as simple as possible. Right now I am following 30 stocks in my personal Spreadsheet and if the right price is getting hit I get a notification and simply buy :D No stress only great companies. I love this (this year I only bought 2 Stocks, and I am very comfortable with it)
@@kiliankroner8610 bought united health and alibaba (pretty much at the bottom)
Max was here
Anything outside of small cap value (with profitability screening) index funds isn’t evidence based. Comparing everything to S&P isn’t a fair comparison considering large cap growth stocks have lower expected returns compared to value or small cap (excluding small cap growth). Why index funds? Because you’re probably not skilled (like 99% of all investors) and rebalancing (very overlooked bias that people don’t rebalance enough). Constantly buying is not just a saying, it’s evidence-based. Over a 10 year period it outperforms waiting for a 20% drop 72% of the time because of the cost of sitting on cash.
Hey Sven just wanted to let you know someone impersonating you on Twitter just contacted me regarding investing in crypto. They are using your name and photo
yes, unfortunately there are scammers everywhere :-(
@@Value-Investing I thought it was rly you until they suggested buying crypto lol