Warren Buffett has long warned that the growing size of his portfolio must, inevitably, begin to negatively impact his returns on invested capital. And that’s certainly occurring – though for reasons that are not obvious to most investors, Porter explains.
There is no excerpt because this is a protected post.
An investor who consistently beats the market needs others to be consistently on the wrong side of the trade. Don’t persist with a strategy that makes you the one who’s making money for someone else, Distressed Investing editor Marty Fridson writes.
Today’s Daily Journal features an exclusive book excerpt highlighting the dean of high-yield investing Marty Fridson, Porter & Co. Distressed Investing’s senior analyst. Marty has written eight books on investing – including The Little Books Of Picking Top Stocks and Financial Statement Analysis – and now is the focus of a chapter of a book on corporate finance being released soon.
Welcome to the Daily Journal Sunday Investment Chronicles: All the insight from the past week that you need to know, in one convenient place… Every Sunday we’ll highlight the most compelling insights from Porter & Co., and we’ll also share the most interesting and valuable research from elsewhere in the worlds of investing, finance, and economics that we come across each week.
In this issue of Saturday Stock Screen… we share the process of how we sift through thousands of stocks to find a handful that we will then do more in-depth analysis for possible inclusion in our Big Secret On Wall Street portfolio.
In time, Porter writes, the most important factor in the economy won’t be the computers or the chips. It will be the power to run them and all of the robots we create. The society that produces the most electricity will win the race.
There has never been a more powerful consumer brand that is more beloved than Coke. And it’s been a great investment… $40 invested in 1919 would have turned into more than $600,000 by now. In today’s issue, Porter explains why…
To answer a reader’s question, Porter does some research on Philip Morris International and discovers that the nicotine maker produces a great return on its tangible assets – and manages to buy them with very cheap debt. His conclusion? That’s a great business.