The Value Investing Congress and Sum Zero have announced the Value Investing Challenge. Among other things,the winner, who will be selected by a team of well-known value investors, will receive free admission to the upcoming Value Investing Congress in NY (an event I attend regularly), and a speaking slot at the Congress.
The deadline for submission of ideas is August 19th.
This year's NY Value Investing Congress will take place October 1-2 at the Marriot Marquis.
Hope to see you there!
Wednesday, 25 July 2012
Monday, 23 July 2012
Cabela's (CAB), Avalon Holdings (AWX)
More excerpts from an April interview with the Manual of Ideas.
http://greatinvestors.tv/video/what-makes-cabelas-cab-special-jonathan-heller.html
*The author has a position in AWX. This is neither a recommendation to buy or sell any securities. All information provided believed to be reliable and presented for information purposes only.
http://greatinvestors.tv/video/what-makes-cabelas-cab-special-jonathan-heller.html
*The author has a position in AWX. This is neither a recommendation to buy or sell any securities. All information provided believed to be reliable and presented for information purposes only.
Wednesday, 11 July 2012
Cresud, St. Joes
http://greatinvestors.tv/video/jonathan-heller-president-of-kej-financial-advisors-is-there.html
Another piece of an April interview I did with the Manual of Ideas. Subsequent to this interview, shares of Cresud (CRESY) which were trading for around $9 at the time, dipped below $7, and I did establish a new position.
*The author has a position in CRESY. This is neither a recommendation to buy or sell any securities. All information provided believed to be reliable and presented for information purposes only.
Another piece of an April interview I did with the Manual of Ideas. Subsequent to this interview, shares of Cresud (CRESY) which were trading for around $9 at the time, dipped below $7, and I did establish a new position.
*The author has a position in CRESY. This is neither a recommendation to buy or sell any securities. All information provided believed to be reliable and presented for information purposes only.
Saturday, 7 July 2012
Interview on greatinvestors.tv
I was recently interviewed by Oliver Mihaljevic of The Manual of Ideas; here is a snippet of that interview concerning Tootsie Roll Industries (TR). Some faces just were not made for TV.......
Tuesday, 26 June 2012
Cheap Stocks 26 Net Net Index Update
A little more than six months since inception, the CS 26 Net Net Index is up 25.17%, 743bps better than the Russell Microcap Index. It's way too early for a victory lap however; we won't judge ultimate success or failure until we hit the two year mark.
Saturday, 16 June 2012
Remembering Clyde: Five Years Later
Today we are re-running one of our favorite all-time posts, which was originally published five years ago today. It was dedicated to my grandfather Clyde in recognition of his 100th birthday. Today would have marked 105.
Remembering Clyde
June 16th marks the 100th birthday of one of this site’s namesakes, my grandfather, friend, mentor, buddy, and the list goes on. The man exerted a great deal of influence on my life, and our time together -including the day he passed away in my presence 13 years ago- is forever etched in my mind.
Today we jettison the typical Cheap Stocks investment related drivel, and instead pay tribute to a great man who left countless people better than he found them. If he were alive today, he’d be puzzled by his grandson’s website. “Value” to him had to do with doing an honest day’s work, keeping your word, and serving others. “Growth” was about the tomatoes and peas in his garden, and “investing” was related to the time you spent serving others needs. The only stock he ever owned was the 20 shares of Ringling Brothers stock one of his sons purchased for him in the 1960’s. The circus was everything to him— at an early age when the circus was in town he’d work all day helping them to set up just for a ticket to that evening’s show--and his canceled Ringling Brothers stock certificate (Ringling was acquired by Mattel in the early 70’s) is proudly displayed in my home in tribute.
He never made it much past the eighth grade. That’s what happens when you get kicked out of school for knocking your school’s principal on his rear-end. Oh, and by the way the principal happened to be his Uncle Ed. As the story goes, young Clyde was accused of something he did not do, and good old Uncle Ed took a switch to him in the school office. Clyde wasn’t standing for that, and you know the rest—down went Uncle Ed. The incident stood with my grandfather—I recall him telling me on one of our frequent weekend ventures to his old stomping ground in Easton, PA about the dream he’d had the night before; here he was in his late 70’s and he’d dreamt of urinating on Uncle Ed’s grave. The past died hard for him. Being kicked out of school in many ways shaped his future—fueling a success story not measured in dollars, because there weren’t many of those, but measured instead by service to others, hard work, pride in all that he did, and sons and grandchildren who revered him.
He was part of the greatest generation. During World War II the GM plant, where he served as Master Heat Treater, made the conversion from autos to airplanes, and his ingenuity-not learned in any classroom- earned him awards, and helped GM build Grumman Avengers more quickly and efficiently.
After moving to Ewing NJ in the late 1930’s, he and a few buddies realized that this growing area needed a rescue squad. They became educated about wound care and emergency medicine, bought a used Hearse to serve as an ambulance, and The Pennington Road Rescue Squad was born. Born out of guts, ingenuity, fortitude, and a desire to serve others.
My grandmother preceeded him in death, and it was then that we found out what “investing” meant in my grandmother's eyes. It meant hiding cash from her husband. The several thousand dollars in cash we found, including bills from the 1930’s through the 1960’s, bore witness to this. Evidently, the combination of living through the Depression, and fear that my grandfather would give it all away to anyone in need prompted my grandmother to keep a secret stash.
You really couldn’t blame her. A great woman in her own right, she’d seen it all. She’d seen my grandfather stop to help a stranger who’d run out of gas during the war, syphon it out of his tank and into the stranger’s, then run out of gas himself a few minutes later. Anything to help someone in need.
My resume' may be a lot longer than his, not that he ever had one. I had the opportunity to graduate from college, grad school, earn other professional designations, etc. But My grandfather, Clyde, was way smarter, way more accomplished, more ingenious and a better "investor" than I will ever be.
Happy 100th birthday, Clyde. I miss you, think of you often, am grateful for the times we had together, and for the lessons you taught me.
Remembering Clyde
June 16th marks the 100th birthday of one of this site’s namesakes, my grandfather, friend, mentor, buddy, and the list goes on. The man exerted a great deal of influence on my life, and our time together -including the day he passed away in my presence 13 years ago- is forever etched in my mind.
Today we jettison the typical Cheap Stocks investment related drivel, and instead pay tribute to a great man who left countless people better than he found them. If he were alive today, he’d be puzzled by his grandson’s website. “Value” to him had to do with doing an honest day’s work, keeping your word, and serving others. “Growth” was about the tomatoes and peas in his garden, and “investing” was related to the time you spent serving others needs. The only stock he ever owned was the 20 shares of Ringling Brothers stock one of his sons purchased for him in the 1960’s. The circus was everything to him— at an early age when the circus was in town he’d work all day helping them to set up just for a ticket to that evening’s show--and his canceled Ringling Brothers stock certificate (Ringling was acquired by Mattel in the early 70’s) is proudly displayed in my home in tribute.
He never made it much past the eighth grade. That’s what happens when you get kicked out of school for knocking your school’s principal on his rear-end. Oh, and by the way the principal happened to be his Uncle Ed. As the story goes, young Clyde was accused of something he did not do, and good old Uncle Ed took a switch to him in the school office. Clyde wasn’t standing for that, and you know the rest—down went Uncle Ed. The incident stood with my grandfather—I recall him telling me on one of our frequent weekend ventures to his old stomping ground in Easton, PA about the dream he’d had the night before; here he was in his late 70’s and he’d dreamt of urinating on Uncle Ed’s grave. The past died hard for him. Being kicked out of school in many ways shaped his future—fueling a success story not measured in dollars, because there weren’t many of those, but measured instead by service to others, hard work, pride in all that he did, and sons and grandchildren who revered him.
He was part of the greatest generation. During World War II the GM plant, where he served as Master Heat Treater, made the conversion from autos to airplanes, and his ingenuity-not learned in any classroom- earned him awards, and helped GM build Grumman Avengers more quickly and efficiently.
After moving to Ewing NJ in the late 1930’s, he and a few buddies realized that this growing area needed a rescue squad. They became educated about wound care and emergency medicine, bought a used Hearse to serve as an ambulance, and The Pennington Road Rescue Squad was born. Born out of guts, ingenuity, fortitude, and a desire to serve others.
My grandmother preceeded him in death, and it was then that we found out what “investing” meant in my grandmother's eyes. It meant hiding cash from her husband. The several thousand dollars in cash we found, including bills from the 1930’s through the 1960’s, bore witness to this. Evidently, the combination of living through the Depression, and fear that my grandfather would give it all away to anyone in need prompted my grandmother to keep a secret stash.
You really couldn’t blame her. A great woman in her own right, she’d seen it all. She’d seen my grandfather stop to help a stranger who’d run out of gas during the war, syphon it out of his tank and into the stranger’s, then run out of gas himself a few minutes later. Anything to help someone in need.
My resume' may be a lot longer than his, not that he ever had one. I had the opportunity to graduate from college, grad school, earn other professional designations, etc. But My grandfather, Clyde, was way smarter, way more accomplished, more ingenious and a better "investor" than I will ever be.
Happy 100th birthday, Clyde. I miss you, think of you often, am grateful for the times we had together, and for the lessons you taught me.
Thursday, 24 May 2012
New Column for The Street.com
I've recently started writing a weekly piece for TheStreet.com. The subject matter will be more mainstream than what you are used to seeing here at Cheap Stocks.
Dividend Growth Reveals the Path to Profits (5/02/2012)
In Search of The Next Berkshire Hathaway (5/10/2012)
Facebook: "Like" the Web Site, Hate Its IPO (5/16/2012)
What Would Benjamin Graham Buy? (5/23/2012)
Thanks for reading, and have a great Memorial Day Weekend!
Dividend Growth Reveals the Path to Profits (5/02/2012)
In Search of The Next Berkshire Hathaway (5/10/2012)
Facebook: "Like" the Web Site, Hate Its IPO (5/16/2012)
What Would Benjamin Graham Buy? (5/23/2012)
Thanks for reading, and have a great Memorial Day Weekend!
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