Global Equity Research

„The stock market is a giant distraction to the business of investing.“

 

                                                                                    Jack Bogle

 

Investing in Stocks

 

  1.   Invest in companies, not stocks.
  2.   Be patient and let time work for you.
  3.   Don’t be afraid to go against the crowd.
  4.  Be a contrarian and a benchmark agnostic.
  5.  Stick to your selling discipline.
  6.  Never fall in love with a stock.
  7.  Do your fundamental research and look for the next catalyst.

 

You might think that you’ve identified some extremely undervalued companies,

but don’t expect that right after you buy them, that everybody agrees with that.

If there is a company that everybody feels is very, very attractive, it probably isn’t.

 

In the words of Ben Graham [Author of The Intelligent Investor],

“In the short run, the stock market is a voting machine. In the long run, it is a weighing machine.”

 

If I come across a company I like and the price is right, a full analysis and valuation report is provided.

 

My quant selection screening and filtering method is simple and the same with every stock I look at.

  • take a look at the valuation ratios
  • perform a quick reverse DCF

Just by doing this, I can decide whether to continue investigating or move on to the next stock.

 

I want to focus on "QARP"-stocks with a healthy "MOS" and wide "MOAT".

 

QARP = Quality at a reasonable price (Value)

MOS = Margin of Safety (discount to intrinsic value)

MOAT = Characteristics that act as barriers to entry (sustainable competitive adv./pricing power)

 

 

 

„It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price. (Warren Buffett)

 

 

Warren Buffett's 20 Dividend Stocks Portfolio

Warren Buffetts 20 Dividend Stocks_April
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Dividend Aristocrats for the long-term

Dividend Aristocrats.pdf
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Global Dividend Stocks

History has shown that the bulk of the stock market's returns are delivered

by dividends. Only consistently profitable companies can afford to keep

paying dividends, so profitability is of critical importance. And investors

shouldn't pay too expensive a price to buy a stock, even if the company itself

is strong. So therefore, dividend investors should be most interested

in researching the strongest most profitable companies, that also happen to

be trading at an attractive valuation.

 

Each month, we screen through our coverage universe of

dividend paying stocks, to look at a variety of data — dividend history &

yield, book value, quarterly earnings — and compare it to the stock's trading

data to come up with certain calculations about profitability and about

the stock's valuation (whether we think it looks ''cheap'' or ''expensive'').

 

Our proprietary Dividend/Valuation Rank formula ranks stocks within

sectors/categories, to identify the top most ''interesting'' ideas that

merit further research.

 

Dividend Stock List

27.6.2013  (avg. dividend yield 3.8%)

20 Global Dividend Stocks.pdf
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5 Rules to buy Quality Dividend Stocks.p
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Investment Checklist_Blue Chip Dividend
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The Chowder Rule
Dividend Growth Investing_The Chowder Ru
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2016 Dividend Kings.pdf
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The Payout Ratio..........find the balance

What's a sustainable payout ratio?
Payout-Ratio-The-Most-Influential-Manage
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The Dividend Cushion Ratio

The Dividend Cushion Ratio.pdf
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Stock Buybacks

Share buybacks 2016.pdf
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As stock buybacks reach historic levels.
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Part 2: Buybacks juice executive pay

Graphic: Lots of companies are buying lots of their shares.

Graphic: Buybacks, dividends climb past net income.

Screening & Filter Tools

QARP Screening

Screening Example of possible QARP stock
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Value Investing.pdf
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Latest Earnings Data S&P500

Where Can I Find the Latest Earnings Data for the S&P 500?

Follow these steps to access the Standard & Poor's earnings spreadsheet:

1.    Go to the S&P 500 page on the S&P Dow Jones Indices website. Here is a: direct link to the page.

2.    Click the "ADDITIONAL INFO" button in the left column.

3.    Click the Index Earnings link to download the Excel file. Once you've downloaded the spreadsheet, scroll down to the "As Reported Earnings" data in column L.

  

http://us.spindices.com/indices/equity/sp-500

 

Background on the S&P Composite

The composite index is just that, a composition that splices the S&P 500, which started in March 1957, with historical data that included the companies in the S&P 90, founded in 1926, the S&P 233 weekly index dating from 1923, and earlier market data painstakingly gathered by Alfred Cowles. Cowles used family money to found the Cowles Foundation and was responsible for collecting comprehensive US stock data from 1871 to 1930. His magnum opus, the 2nd edition of his Common Stock Index was published in 1939 and is now available online in PDF format.

The S&P Composite has been popularized by Yale Professor Robert Shiller, and an Excel copy of the data, updated monthly, is maintained at his Yale website.

 

S&P500 Earnings Dashboard

Earnings Calendar

Earnings Calendar provided by Investing.com.

Who to follow during earnings season

The Best People To Follow During Earning
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Valuation

Shiller CAPE (P/E, P/S, P/B, Earnings)

Global Stock Market Valuation

WACC Calculator

ROIC & FCF Yield Screener

DCF Screener

Piotroski F-Score

Dividend Aristocrats and Champions

Example

Modern Graham Valuation.pdf
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Shiller CAPE March 2016

Fixing the Shiller CAPE_13.12.2013.pdf
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The intrinsic valuation

Intrinsic Valuation.pdf
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Measuring the Moat

Measuring the Moat_CS_July2013.pdf
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Profitability
Profiting from companies with large economic moats
SP_Capital_IQ_Quantamental_Research_-_Pr
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“In business, I look for economic castles protected by unbreachable moats.”

                                                                                           Warren Buffett

Klarman's Margin of Safety

Notes_To_Margin_of_Safety.pdf
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How to value stocks

How to Value Stocks Like a Pro Using the
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The search for under-valued stocks

What is the Justifiable or Sustainable P
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The Graham Dodd PE Matrix.pdf
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A little inflation is good for stocks (data hist. since 1950)

Events, Reported Results, Profitability, Growth ...

The Inefficient Stock Market or Low Risk Stocks Outperform

Low_Risk_Stocks_Outperform.pdf
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The Bitter Truth About Stock Buybacks.pd
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Low Beta Stocks_value premium.pdf
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The potential return of innovation to shareholders

The CNBC RQ50 List.pdf
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How is your Peripheral Vision?

Peripheral Vision.pdf
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DuPont Analysis

DuPont Analysis.pdf
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Fundamental Equity Analysis.pdf
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Dividend Companies

Multi Factor Analysis of Startups.pdf
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