Tuesday, September 29, 2009

A Value Investor Is What I Choose To Be

We've had a lot of new visitors this week coming from various referrals on the web, and other sites where my articles are syndicated. I just wanted to take this opportunity and say welcome. It is my hope that you find this site to be a useful resource whether you are an experienced investor or just getting started. I recommend subscribing to the RSS feed (the orange button to the right) in order to receive the latest posts as they become available. Some articles, especially investment ideas, may be time sensitive and RSS is the best way to get them right away.

The articles and information on this site tend to be focused on the value style of investing as that is what I practice myself and is what I know best as a result. Very important however, especially if you are new to investing, is to pick a style/methodology, learn it well and stick to it. The worst losses in the stock market come from letting your emotions dictate your buy/sell decisions. That is when you are most likely to buy high and sell low; exactly what you do not want to be doing. As a value investor I have a lot of conviction in the value investment philosophy. I definitely do not preach it to be the only way to invest and there are certainly many very successful investors from other disciplines. Over the past few years however I have followed practitioners, read research and conducted some of my own studies. What I have learned is that there truly is a significant and persistent premium attributed to value investing over time and as a result this is the style I am practicing, preaching and most importantly sticking to.

The best place to get started on this site is by clicking on the "basics" heading under the topics to the left. This series of articles will give you a brief introduction to the investment methodology which I utilize. Just as there are many value investors out there, there are also many ways to practice value investing. The methodology I use, which I studied with Dr. George Athanassakos (Ben Graham Chair in Value Investing at the University of Western Ontario) while pursuing an MBA, is based largely on the teachings of Bruce Greenwald at Columbia Business School. A great resource for additional information on this methodology is Bruce Greenwald's book - Value Investing: From Graham to Buffett and Beyond.

Please let me know either through the comments or via email (jonathan at jonathangoldberg dot com) if you have any suggestions for content that you would like to see here and I will do my best to accommodate. In the past I have posted investment ideas, summaries of lectures by notable value investors, market commentary and research findings (of which I admit may be the driest of the bunch i.e. last post). Speaking of research findings, while very dry my last post is an excerpt from a study I have conducted and the excerpt gives a great overview of some important studies which you can research on your own. For those of you that choose to skip that post I hope to have a more "user friendly" post in the future summarizing the findings as well as their applicability to you and your investments.

Look around, read previous posts and think about what you'd like to see in the future. And most importantly, subscribe to the RSS feed to the right of this page so that you are kept up to date with my posts as they become available. Oh yeah, and tell your friends to visit too!

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