Our Warren Buffett Model uses sophisticated quantitative screening to select stocks based on the investment style employed by Buffett. With the help of Marc Gerstein, an expert on Buffett, quantitative analyst, and programmer we will manage a twenty stock portfolio based on our Warren Buffett model.
Many investors find themselves trapped in a perplexing cycle of underperformance and missed expectations from their investments. Choosing your investment philosophy is the missing link that can offer long-term peace of mind.
Many investors find themselves trapped in a perplexing cycle of underperformance and missed expectations from their investments. Choosing your investment philosophy is the missing link that can offer long-term peace of mind.
Two sets of contrasting investment styles are revisited here- value (contrarian) vs momentum and active vs passive to identify investment opportunity at minimum cost on The Nairobi Securities Exchange (NSE). The results are eye-popping.
Have you ever looked at the news, or at a company’s results, and have had no idea what they mean or how to interpret it?
You know there’s information lurking deep down in the results that you could use to profit from, but you’re never sure where to look. Or exactly what to look at!?
And with reporting season around the corner, just imagine the profit opportunities you could uncover before any other investor if you knew how.
That’s why I want to give you the reporting strategy that you could use to read financial results like a pro.
Investment basics wayne lippman
Wayne Lippman has forty years of involvement in broad daylight bookkeeping incorporating a quarter century Price Waterhouse, where he served as an expense accomplice in the San Francisco and Oakland workplaces. He was already Managing Tax Partner of the Walnut Creek office of Price Waterhouse.
Wayne spends significant time in individual assessment getting ready for corporate officials and corporate duty anticipating firmly held organizations. He has huge involvement in investment opportunity arranging, exploration and trial credits and multi-state tax assessment. His industry experience incorporates the tax assessment of assembling, dispersion, development, high innovation, retail, benefit commercial enterprises, land organizations and endeavor reserves. Wayne is dynamic in expert associations and is a past administrator of the Taxation Committee of the California Society of Certified Public Accountants, East Bay Chapter. Wayne Lippman got a Bachelor of Arts degree in Economics from the University of California, Berkeley and a Master of Science degree in Taxation from Golden Gate University.
While it's true that valuing a business is part art part science, there are specific methodologies that can be applied to determine the value of a business. Here are the 5 most frequently used methods to value a startup.
Find out more on: https://www.equidam.com/how-to-value-a-business/
Discover your company value on https://www.equidam.com/
Valuation of Goodwill (12th commerce / Management Accounting)Yamini Kahaliya
the presentation covers the following points -
Meaning
Characteristics of goodwill
Nature of goodwill
Factors affecting goodwill
Classification of goodwill
Need for valuation of goodwill
Methods of valuation of goodwill
Exercise (Do it yourself)
Crown Venture Investment Fund's primary investment strategy is to assemble and manage a concentrated portfolio of U.S. common stocks at prices well below their investment value.
Two sets of contrasting investment styles are revisited here- value (contrarian) vs momentum and active vs passive to identify investment opportunity at minimum cost on The Nairobi Securities Exchange (NSE). The results are eye-popping.
Have you ever looked at the news, or at a company’s results, and have had no idea what they mean or how to interpret it?
You know there’s information lurking deep down in the results that you could use to profit from, but you’re never sure where to look. Or exactly what to look at!?
And with reporting season around the corner, just imagine the profit opportunities you could uncover before any other investor if you knew how.
That’s why I want to give you the reporting strategy that you could use to read financial results like a pro.
Investment basics wayne lippman
Wayne Lippman has forty years of involvement in broad daylight bookkeeping incorporating a quarter century Price Waterhouse, where he served as an expense accomplice in the San Francisco and Oakland workplaces. He was already Managing Tax Partner of the Walnut Creek office of Price Waterhouse.
Wayne spends significant time in individual assessment getting ready for corporate officials and corporate duty anticipating firmly held organizations. He has huge involvement in investment opportunity arranging, exploration and trial credits and multi-state tax assessment. His industry experience incorporates the tax assessment of assembling, dispersion, development, high innovation, retail, benefit commercial enterprises, land organizations and endeavor reserves. Wayne is dynamic in expert associations and is a past administrator of the Taxation Committee of the California Society of Certified Public Accountants, East Bay Chapter. Wayne Lippman got a Bachelor of Arts degree in Economics from the University of California, Berkeley and a Master of Science degree in Taxation from Golden Gate University.
While it's true that valuing a business is part art part science, there are specific methodologies that can be applied to determine the value of a business. Here are the 5 most frequently used methods to value a startup.
Find out more on: https://www.equidam.com/how-to-value-a-business/
Discover your company value on https://www.equidam.com/
Valuation of Goodwill (12th commerce / Management Accounting)Yamini Kahaliya
the presentation covers the following points -
Meaning
Characteristics of goodwill
Nature of goodwill
Factors affecting goodwill
Classification of goodwill
Need for valuation of goodwill
Methods of valuation of goodwill
Exercise (Do it yourself)
Crown Venture Investment Fund's primary investment strategy is to assemble and manage a concentrated portfolio of U.S. common stocks at prices well below their investment value.
Investing makes it possible for many of us to achieve important lifetime goals, such as retirement. That’s why we employ an investment approach based on almost nine decades of data, analysis and research, insights from behavioral finance and close relationships with leading academics. There are four key concepts which play a vital role in the construction and management of our portfolios. Together, they add up to a distinctive long-term, approach we call Asset Class, or evidence-based, Investing
Master Limited Partnerships (MLPs) are stocks given tax preferences under the 1987 Tax Act. Basically, they are tax advantaged utilities benefiting from the shale energy boom in the United States.
MLP’s income is very attractive and most midstream MLPs offer solid dividend growth which grows their income. Because MLPs are tax advantaged, most of their income is treated as a return of capital and it carries no initial tax liability.* As a result, MLPs offer some of the most attractive after-tax equivalent yields and will likely experience distribution growth. Since most MLPs are involved in the build out of the energy infrastructure driving the United States Energy Shale Boom, the growth prospects for many MLPs is quite robust. Further, most MLPs are natural monopolies regulated by the Federal Energy Regulatory Commission. This means that many of these MLPs have government protected businesses that are free from unbridled competition. E.g. FERC won’t let a second pipeline be built next to a pipeline unless there is clear demand for a new pipeline.
Nelson Obus of Wynnefield Capital, Inc. is an American businessman and hedge fund manager As an out-spoken critic of the SEC, Nelson Obus is the president of Wynnefield Capital, Inc., an employee-owned hedge fund, specializing in value stocks of small-cap companies.
The following empirical studies are to display the effectiveness of Enhanced Dynamic®, with independent, style-adherent,
active investment managers for the past 1-3-5-7-10 and 15 years..
These illustrations and graphs are based upon the eVestment Alliance investment manager database and provide a consistent comparison and display. Investment manager results are a composite of the top 35% of the active style-adherent managers in the database, to avoid concerns of “cherry-picking” of individual manager candidates.
We have determined that independent, style-adherent, active equity managers combined with the Enhanced Dynamic® overlay methodology provides significant benefits in both higher returns, and lower down-side capture.
Enhanced Dynamic® was applied consistently within these exhibits, without the benefit of any market timing, tactical asset allocation, security or index selection, or deviation from the Enhanced Dynamic® methodology.
Please refer to the Disclosures section within the http://www.enhancedinvesting.com and http://www.enhanceddynamic.com Web sites for further discussion.
MUTUAL FUNDS (ICICI Prudential Mutual Fund) BY JAMES RODRIGUESWilliamRodrigues148
Mutual funds are investment vehicles that pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities. They are managed by professional portfolio managers or investment companies who make investment decisions on behalf of the fund's investors.
The E-Way Bill revolutionizes logistics by digitizing the documentation of goods transport, ensuring transparency, tax compliance, and streamlined processes. This mandatory, electronic system reduces delays, enhances accountability, and combats tax evasion, benefiting businesses and authorities alike. Embrace the E-Way Bill for efficient, reliable transportation operations.
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4
World economy charts case
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4study presented by a Big 4
2. Warren Edward Buffett is an American business icon, investor, and philanthropist. He is widely considered the most successful investor of the 20th century. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway and consistently ranked among the world's wealthiest people.
Buffett is called the "Oracle of Omaha” and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth.
Berkshire Hathaway’s investment style is what we offer through quantitative investment modeling.
3. Since Jan 1999 to June 9, 2014:
Buffett Model returned 657.91% versus 100.91% for SPY.
Annualized return of model 14.03% of S&P500 ETF 4.87%
Annualized outperformance is 8.87% per year.
(15.44384 yrs, 1/x= 0.06475)
5. Three important investment criteria:
fair valuation
solid company fundamentals
and reasonable consistency.
Berkshire Hathaway performance and outperformance:
from 1965 through 2013 Berkshire Hathaway returned
19.7% versus S&P 500 9.8%;
historic outperformance is approximately 9.9% per year.*
from 1999 through 2013 Berkshire Hathaway returned
9.23% versus S&P 500 6.58%;
outperformance 2.64%.*
Our Warren Buffet Model performance and outperformance:
from 1999 through 2013 our Warren Buffett model returned
14.03% versus S&P 500 4.87%; outperformance is 8.87% per year.
8.87% outperformance versus 2.64% outperformance of Warren Buffett Model versus Berkshire Hathaway. Over 6% higher outperformance versus Berkshire Hathaway since 1999.
*Berkshire Hathaway Annual Report.
Portfolio 123, see performance disclosures on last page.
6. Quantitative Prerequisites:
Pass liquidity tests
Market cap between of at least $250 million
Industry does not exceed 25% of total portfolio
Not be in an industry whose financial characteristics we deem incompatible with fundamental screening and ranking
Meet various test relating to financial strength, return on capital and consistency of performance.
Qualitative Strategy
Don’t lose money.
Buy durable franchises at a good price.
7. The portfolio holds approximately 20 stocks
and is rebalanced every four weeks.
8. TYSON HALSEY, CFA
Winner USA Today-CNBC National Investment Challenge.*
Conferred CFA designation 1993.
Halsey has managed Master Limited Partnership (MLP) portfolios for over 13 years.
Halsey has been using quantitative investment strategies for nearly a decade.
Employed by Merrill Lynch, Alex. Brown & Sons, Deutsche Bank Alex. Brown:1985- 1999.
Financial services professional since 1984.
Exposure to some of the most talented and recognized fund managers in the world.
Founded Halsey Advisory and Management, LLC in 1999.
*USA Today/CNBC National Investment Challenge, options division Q1 1992, paper trading, 1078% for quarter.
MANAGING MEMBER OF
INCOME GROWTH ADVISORS, LLC
Registered Investment Advisor, Charleston, SC.
Focused on securities with growing income profiles.
Strategies designed to enhance retirement income.
ADV available at SEC.gov.
Income Growth Advisors, LLC
234 Seven Farms Drive, Suite 123-C
Daniel Island, SC 29492
843-628-5611
th@incomegrowthadvisors.com
9. OUR WARREN BUFFETT MODEL
The Warren Buffett model was developed by a leading quantitative analyst and author Marc Gerstein a former analyst, editor, and Assistant Research Director at Value Line; Marc was the first analyst anywhere to initiate regular coverage of Berkshire Hathaway back in the late 1990s. We pay an annual fee to subscribe to the quantitative service.
The model is back tested. That means the actual returns are not real portfolios, but returns that would have resulted from the rules based quantitative methodology developed by the analyst.
Portfolio123's Models represent hypothetical or simulated performance, not actual trading. Since the trades have not actually been executed, the results may have under-or-over compensated for the impact of certain market factors, such as liquidity. Remember that past returns are no guarantee of future returns
BERKSHIRE HATHAWAY
We compare Berkshire Hathaway to the S&P 500. We use the S&P 500 ETF(Exchange Traded Fund) symbol SPY to reflect the return of the S&P 500. There is slippage or performance differences between the S&P 500 and the ETF.
We derive our performance numbers from the Berkshire Hathaway annual report. These numbers are calculated using a simple arithmetic average not geometrically linked.
10. BERKSHIRE HATHAWAY PERFORMANCE FROM ANNUAL REPORT
WARREN BUFFETT STRATEGY RETURNS THROUGH JUNE 2014
Performance comparison illustrates Berkshire Hathaway for 1999-2013. The Warren Buffet model shows 1999- June 2014. The time differential has di minimus impact on analysis.