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G'day guys, back in 2010 when I came across former analyst Steve Johnson's quote of “being successful in the stock market is 80% psychology and 20% actually valuing stocks” and me being a deeply contrarian person to begin with I took it to heart and I was immediately drawn to share investing and signed up to intelligent investor.
Having the psychology bit nailed down pat (I don’t care about falling prices etc, in fact I kind of enjoy it), I have relied solely on you fine folk at intelligent investor for crunching the numbers and recommendations; ie the other 20% as I’ve never actually read a financial report, statement, balance sheet, or anything else with numbers on it simply because it’s like trying to understand Einstein’s blackboard it just goes in one ear and out the other.
My question is I have done very well financially creating a portfolio this way and with this Charlie Munger quote stuck in the back of my mind “It's not supposed to be easy. Anyone who finds it easy is stupid” I feel like I’m cheating (or perhaps that stupid person he’s talking about?) by just relying on the advice of Intelligent Investor without ever reading a financial document.
I would love to hear any thoughts you may have on the long-term sustainability of this approach.
I have been a Intelligent Investor subscriber for some time and find its style, delivery and contrarian focus a neat fit with my long-term investing goals. The sharply differing investment styles of Eureka report and Intelligent Investor I am increasingly finding are a turn off for me.
I personally have been reasonably successful over the last 30 years by being primarily a contrarian style investor in my investing activities both inside and outside the sharemarket. I find being a good contrarian has included blocking out the daily financial chatter on various companies and the various market movement nuances. I am like most others time poor and I really only like to digest information that deals with macro-economic data and will bias my investing time focusing on information about investments in unloved business with good fundamentals in growing industries, exactly what Intelligent Investor does so well.
I can state that I am not really a fan of much of the Invest Smart produced material including the Eureka report as it is more focused with reporting on the daily market and financial industry chatter and Self Managed Super information which neither are much interest to me. I do like the weekly general commentary on Saturday morning because it is of a general economic focus but not much else of Invest Smart's material appeals to me as it, like many other reports in the sharemarket commentary business is short-term focused for the investor who is trying to beat the market through trading and is regularly in the market whereas I am long-term focused and I like to buy unloved stocks and hold for some time waiting for the market to wake up to their underlying value.
I will remain a loyal subscriber of Intelligent Investor into the foreseeable future as I believe even if I totally ignore Invest Smart's contribution I get fair value from my subscription to Intelligent Investor produced reporting. I am hopeful that Intelligent Investor will continue to maintain their strong independent contrarian focus and not allow the sister organisation's shorter-term investment focus to bleed through into their investing approach.
Hi guys, I've been a subscriber for a while and appreciate your analyses which help me to better understand your recommendations. As I will be fully retired within the next year I would like to use the free time I will have to start acquiring the analytical skill set which your analysts display. My question is...can you recommend any courses or programs that will teach me the fundamentals of stock analysis so I can start looking at shares the way you do. I understand that much of what you write comes from experience but I assume there are some solid fundamentals that everyone begins with. The courses can be long or short, free or fee-paying - but they need to be serious not superficial. In fact it may even be something that Intelligent Investor could put on... Thanks for any suggestions. Roman
What is the likely impact to share price over the potential court case against Australian Executor Trustee (a division of IOOF) in regards to SEAS Sapfor Forests Pty Limited? http://www.adelaidenow.com.au/business/australian-executor-trustees-sa-i.... Thanks
Santos, I read recently sold a lot of gas forward & that's part of the reason for the rapid decline in the share price( or so the article said ) , does anyone have any idea when these forward rate agreements expire or any other good reason why the share is in decline in a escalating energy price market
Hi Team - I gather you once followed Cleanaway and had a 'sell' recommendation on them. What are your current thoughts on this stock which seems to be on the rebound over the past 18 months and in a much improved position. Thanks & Regards, Michael
Hi Could you clarify regarding your BUY price trigger. Using WPL (Woodside Petroleum) as an example, the price has dipped below your BUY guide price. Should readers wait for your updated commentary and transfer to your list of BUY recommendations or assume that your most recent review is applicable and your recommendation is automatically a BUY?
Hi. What are II's views on Huon Aquaculture? It seems that they are increasing their market share domestically and with improved efficiency in running their business. Maybe its worth a look at the right price ? Regards