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PRESENTATION RECAP @ 28/09 & THE PERILS OF BUFFETT INVESTING PART 1/2

PRESENTATION RECAP @ 28/09 & THE PERILS OF BUFFETT INVESTING PART 1/2 via The Asia Report

I did a presentation earlier this week to a small gathering of value investors on Deep Value Investing: �How The World’s Best Investors Beat The Market.

I used to do these presentations regularly during my time in UCL (University College London). Its always great fun to share what I’ve learnt over the years. I get to review and re-look the concepts that deal I with daily.

Teaching has always been the best form of learning for me.

One of my favourite parts about these sharing sessions is the Q & A.

There’s a huge gap between theory and practise. Something which I struggled with when I first started too. I remember having an accounting related question on Free Cash Flow vs Owners Earnings that was unresolved for over two years.

I touched about how big that gap can be briefly in my podcast on the perils of index investing, and why its so hard.

You can check it out here:

One of the members of the audience had a great question which commonly comes up:

IS IT BETTER TO BUY CHEAP COMPANIES AT GOOD PRICES,
OR WONDERFUL COMPANIES AT FAIR PRICES?

WHAT WARREN BUFFETT THINKS

He’s said this a number of times over the years in various interviews. Here’s the thing though.

I don’t think this is an end all be all statement that conclusively...


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