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wisdom 2013/10/24 08:16 wisdom 2016/03/29 10:36 current
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  * Andrew Smithers calls **'stockbroker economics'**: “the art of proving that assets are always cheap, however expensive they may actually be.” (p. X) I think GARP is stockbroker economics. Forward looking P/E's are too. I use C.A.P.E. - cyclically adjusted price to earnings...back ten years.   * Andrew Smithers calls **'stockbroker economics'**: “the art of proving that assets are always cheap, however expensive they may actually be.” (p. X) I think GARP is stockbroker economics. Forward looking P/E's are too. I use C.A.P.E. - cyclically adjusted price to earnings...back ten years.
 +  * "most companies we'd want to buy don't come at a discount" Warren Buffett, 1999 Owner's Manuel
  * "if a stock price declines its forward rate of return goes up" Donald Yacktman, May 2010   * "if a stock price declines its forward rate of return goes up" Donald Yacktman, May 2010
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