Search found 217 matches

by Lauretta
Tue Oct 31, 2017 2:46 am
Forum: Investing - Theory, News & General
Topic: How to learn about financial statement analysis?
Replies: 31
Views: 2981

Re: How to learn about financial statement analysis?

ah ok. I am still a bit puzzled about this because on the one hand people who here who know a lot about financial statements say they don't seem to help in investing; on the other the quants by just picking stocks with low PE ratios (or price to cash flow) - and with ROE+operating margins above som...
by Lauretta
Sat Oct 28, 2017 4:19 am
Forum: Investing - Theory, News & General
Topic: How to learn about financial statement analysis?
Replies: 31
Views: 2981

Re: How to learn about financial statement analysis?

My education and career is in accounting and finance, but I never use financial statement analysis in investing. Not only do you have to understand basic accounting and finance, but you have to understand the peculiarities of the company and the industry. Just looking at a company financial stateme...
by Lauretta
Tue Oct 17, 2017 4:24 pm
Forum: Investing - Theory, News & General
Topic: How to learn about financial statement analysis?
Replies: 31
Views: 2981

Re: How to learn about financial statement analysis?

I am becoming interested in financial statements - it's actually quite fun when you begin to see how things fit together within a statement or across different statements. I remember when I was at university people thought that accountancy is really boring, but it doesn't seem to be that way to me ...
by Lauretta
Mon Oct 16, 2017 5:48 pm
Forum: Investing - Theory, News & General
Topic: How to learn about financial statement analysis?
Replies: 31
Views: 2981

Re: How to learn about financial statement analysis?

I learned it in business school. Was really interested in personal finance previously but as an indexer I never need to understand a balance sheet, for example. Are you looking to do fundamental analysis like Ben Graham? If so, I hear good things about the book Securities Analysis but that might be...
by Lauretta
Mon Oct 16, 2017 5:39 pm
Forum: Investing - Theory, News & General
Topic: How to learn about financial statement analysis?
Replies: 31
Views: 2981

Re: How to learn about financial statement analysis?

If your interested, accounting is fun. Otherwise, not so much. thanks :-) yes I remember, at least in the UK, everyone thought it was boring, but I actually find it very interesting now that I am finding out about it! I really like value investing-it resonates with me- and to get those valuation ra...
by Lauretta
Mon Oct 16, 2017 4:35 pm
Forum: Investing - Theory, News & General
Topic: How to learn about financial statement analysis?
Replies: 31
Views: 2981

How to learn about financial statement analysis?

I am becoming interested in financial statements - it's actually quite fun when you begin to see how things fit together within a statement or across different statements. I remember when I was at university people thought that accountancy is really boring, but it doesn't seem to be that way to me n...
by Lauretta
Sun Oct 15, 2017 9:04 am
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

The currency forward rate is not a forecast of future exchange rates. It is the cost of locking in a future exchange rate now. It is a poor predictor of future exchange rates (a guess that they will not change performs better). I've just come across this article, in which the things that puzzled me...
by Lauretta
Sat Oct 14, 2017 6:52 am
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

The currency forward rate is not a forecast of future exchange rates. It is the cost of locking in a future exchange rate now. It is a poor predictor of future exchange rates (a guess that they will not change performs better). I've just come across this article, in which the things that puzzled me...
by Lauretta
Fri Oct 13, 2017 1:59 pm
Forum: Investing - Theory, News & General
Topic: Factor investing: should financial firms be excluded when screening for value?
Replies: 31
Views: 1569

Re: Factor investing: should financial firms be excluded when screening for value?

I am very confused. Sorry to confuse you - All I was trying to say was that: book value +/- adjustments = assets I would take the opposite side if book value is important. It can be manipulated. For some industries, like banking, it is a important measure. For others it less important. The predicti...
by Lauretta
Wed Oct 11, 2017 2:47 pm
Forum: Investing - Theory, News & General
Topic: Factor investing: should financial firms be excluded when screening for value?
Replies: 31
Views: 1569

Re: Factor investing: should financial firms be excluded when screening for value?

Thanks nedsaid! This has given me the opportunity to look up some balance sheets - something I am begining to teach mysef to read. Please excuse me if I say something silly - I am a complete beginner in this - I just wanted to confirm one thing: are 'book value' and 'stockholders equity' the same? ...
by Lauretta
Wed Oct 11, 2017 10:22 am
Forum: Investing - Theory, News & General
Topic: Factor investing: should financial firms be excluded when screening for value?
Replies: 31
Views: 1569

Re: Factor investing: should financial firms be excluded when screening for value?

Thanks nedsaid! This has given me the opportunity to look up some balance sheets - something I am begining to teach mysef to read. Please excuse me if I say something silly - I am a complete beginner in this - I just wanted to confirm one thing: are 'book value' and 'stockholders equity' the same? ...
by Lauretta
Wed Oct 11, 2017 3:55 am
Forum: Investing - Theory, News & General
Topic: Factor investing: should financial firms be excluded when screening for value?
Replies: 31
Views: 1569

Re: Factor investing: should financial firms be excluded when screening for value?

The underlying reason for the exclusion is not something nefarious but simply because the financial statements of banks, other financial firms, utilities, and "industrial" (i.e. everyone else) companies simply look different from one another. And key for the academic researchers using Compustat is ...
by Lauretta
Tue Oct 10, 2017 5:24 pm
Forum: Investing - Theory, News & General
Topic: Factor investing: should financial firms be excluded when screening for value?
Replies: 31
Views: 1569

Re: Factor investing: should financial firms be excluded when screening for value?

I have read a working paper (not available on the web unfortunately) by AlphaArchitect in which they back-tested different value metrics (FCF/TEV, EBIT/TEV, P/E, B/M) to see which works better, and they excluded financials in their tests. I read a piece by a value manager in Europe who also thinks ...
by Lauretta
Tue Oct 10, 2017 2:37 pm
Forum: Investing - Theory, News & General
Topic: Factor investing: should financial firms be excluded when screening for value?
Replies: 31
Views: 1569

Re: Factor investing: should financial firms be excluded when screening for value?

It's mostly a matter of convention. The traditional academic literature on the value factor does the book-to-market sort—or other metrics—over the market minus financials and utilities. So no financials included on either side (high or low value). The thinking is that particularly with financials t...
by Lauretta
Tue Oct 10, 2017 1:36 pm
Forum: Investing - Theory, News & General
Topic: Factor investing: should financial firms be excluded when screening for value?
Replies: 31
Views: 1569

Factor investing: should financial firms be excluded when screening for value?

I have read a working paper (not available on the web unfortunately) by AlphaArchitect in which they back-tested different value metrics (FCF/TEV, EBIT/TEV, P/E, B/M) to see which works better, and they excluded financials in their tests. I read a piece by a value manager in Europe who also thinks f...
by Lauretta
Thu Oct 05, 2017 1:28 am
Forum: Investing - Help with Personal Investments
Topic: Are you investing in Emerging Market small caps?
Replies: 25
Views: 1769

Re: Are you investing in Emerging Market small caps?

I've talked to a few money managers in Europe whilst building my AA and learning about finance. One of them suggests having a significant allocation in EM small caps (besides EM large caps) in her model portfolios - her motivation being that the sectors contribution in EM large and EM small are qui...
by Lauretta
Wed Oct 04, 2017 12:08 pm
Forum: Investing - Theory, News & General
Topic: Does anyone hold cash?
Replies: 58
Views: 5781

Re: Does anyone hold cash?

I hold about 30% of my net worth in cash (and ~35% in stocks and ~35% in rental property).
by Lauretta
Wed Oct 04, 2017 9:43 am
Forum: Investing - Help with Personal Investments
Topic: Are you investing in Emerging Market small caps?
Replies: 25
Views: 1769

Re: Are you investing in Emerging Market small caps?

Since I am selling shares of DGS this week, I should post that EVERYBODY should be buying shares of EM small caps and LOTS of them. :) :D :D lol. Thinking of it I realise that I should perhaps be less naive when reading about the markets. One of the articles that I found most convincing on EM was b...
by Lauretta
Wed Oct 04, 2017 9:33 am
Forum: Investing - Help with Personal Investments
Topic: Are you investing in Emerging Market small caps?
Replies: 25
Views: 1769

Re: Are you investing in Emerging Market small caps?

Lauretta, I would caution against what could be called "icing on the icing on the cake." That is to says... Emerging markets... but why not Emerging markets small-caps ? But why not Emerging markets small-cap value? ? But why not Emerging markets small-cap value with quality, profitability, momentu...
by Lauretta
Wed Oct 04, 2017 8:51 am
Forum: Investing - Help with Personal Investments
Topic: Are you investing in Emerging Market small caps?
Replies: 25
Views: 1769

Re: Are you investing in Emerging Market small caps?

some people think the rally has just begun, see e.g.: https://www.bloomberg.com/view/articles/2017-09-22/emerging-markets-may-be-due-for-their-comeback So that was published on 9/22. Do you know that DGS dropped almost 3% on 9/25 and it was not related to going ex-dividend the next day? This looks ...
by Lauretta
Wed Oct 04, 2017 8:41 am
Forum: Investing - Help with Personal Investments
Topic: Are you investing in Emerging Market small caps?
Replies: 25
Views: 1769

Re: Are you investing in Emerging Market small caps?

Definitely yes and for a long time now. I have used EWX and DGS, but currently only hold DGS. I must say that EM small-caps have been pretty bad until the past 15 months. If you had invested equal amounts of money into Total US Bond (VBTLX) and DGS at the end of 2007 about 10 years go and reinveste...
by Lauretta
Wed Oct 04, 2017 8:35 am
Forum: Investing - Help with Personal Investments
Topic: Are you investing in Emerging Market small caps?
Replies: 25
Views: 1769

Re: Are you investing in Emerging Market small caps?

I find Swedroe's (?) idea of increasing risk within equities (more small, value, emerging) while keeping total equity AA limited to maintain expected return while minimizing tail risk persuasive. I like that idea a lot too, it really resonates with me. Did Swedroe write on this? If you've got a ref...
by Lauretta
Wed Oct 04, 2017 8:29 am
Forum: Investing - Help with Personal Investments
Topic: Are you investing in Emerging Market small caps?
Replies: 25
Views: 1769

Re: Are you investing in Emerging Market small caps?

If that's included in VSS, then yes I am as I use 90/10 VEU/VSS to build VXUS. Yes, it looks like it has 20% EM small caps, so that the VXUS you built has 2% in them. That's quite interesting because a quick check to world small cap ETFs available in Europe, like the SPDR, shows that they have much...
by Lauretta
Wed Oct 04, 2017 5:34 am
Forum: Investing - Help with Personal Investments
Topic: Are you investing in Emerging Market small caps?
Replies: 25
Views: 1769

Are you investing in Emerging Market small caps?

I've talked to a few money managers in Europe whilst building my AA and learning about finance. One of them suggests having a significant allocation in EM small caps (besides EM large caps) in her model portfolios - her motivation being that the sectors contribution in EM large and EM small are quit...
by Lauretta
Tue Oct 03, 2017 1:45 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

Life in the US is not that great either. After expected inflation our government bonds are yielding something close to zero. Ah ok, I thought that it was a lot easier for you over there... Though yes, lik eyou say one has to consider inflation (and taxes). I saw a Tweet by Jim O'Shaughnessy the oth...
by Lauretta
Tue Oct 03, 2017 1:34 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

ok, I'll try to analyse the emotions that got me here (this post however started more as a theoretical question on something that puzzled me - that's why I posted it in this General section). With due respect I must say once again that the problem I have with bonds in the EU is not that they don't ...
by Lauretta
Tue Oct 03, 2017 12:42 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

[ Technically you are not hedging and this is an important point. Hedges are things that move in the opposite direction of the market. I understood that high quality bonds could be considered as a hedge to stocks, as they tend to appreciate when stocks fall, particularly the long term ones, so that...
by Lauretta
Tue Oct 03, 2017 12:23 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

You have to trade off your upside to your downside. Consider how we got here: - you didn't (in an earlier thread) want to own bonds (much or perhaps even any?) - you were (sort of) persuaded to own bonds for the usual reasons we suggest it here - now you don't think bonds yield enough. So you want ...
by Lauretta
Tue Oct 03, 2017 9:33 am
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

I would think long bonds are the way to go. Maybe even individual ones. One last question - I think the answer to your question is the differential between inflation rates between the EU and US. Nominal rates would be different but real rates should be closer. However, are junkie are EU junk bonds?...
by Lauretta
Tue Oct 03, 2017 3:32 am
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

The currency forward rate is not a forecast of future exchange rates. It is the cost of locking in a future exchange rate now. It is a poor predictor of future exchange rates (a guess that they will not change performs better). Then, it's probably rational for a EU investor to buy US bonds (without...
by Lauretta
Mon Oct 02, 2017 5:22 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

Am I right in deducing that this implies that the market is actually predicting that the Euro will appreaciate against the Dollar (since I understand that what you are saying is that a EU investing in USD has to pay to secure today's exchange rates in the future) - please also see the post I've jus...
by Lauretta
Mon Oct 02, 2017 5:04 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

The currency forward rate is not a forecast of future exchange rates. It is the cost of locking in a future exchange rate now. It is a poor predictor of future exchange rates (a guess that they will not change performs better). Then, it's probably rational for a EU investor to buy US bonds (without...
by Lauretta
Mon Oct 02, 2017 3:53 pm
Forum: Investing - Help with Personal Investments
Topic: First simple portfolio [Italy]
Replies: 12
Views: 790

Re: First simple portfolio [Italy]

Greetings. Your allocation and chosen etfs are fine. As already mentioned, you overweight em, 65/35 is actually gdp allocation. I do not disaggre, since em gas lower valuations andvis supposed to perform a bit better in the intermediate term, but it is more risky. The usual fund of choice for em is...
by Lauretta
Mon Oct 02, 2017 3:22 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

I've seen a graph showing that the yield on 10-year US Treasuries (2.33%) is now higher than the yield on European Junk Bonds (2.32%) (unfortunately I am not savvy enough to be able to insert the graph here - showing the evolution of the respective yields). Anyway, how can this be consistent with t...
by Lauretta
Mon Oct 02, 2017 3:04 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

Comparing the expected real returns normalized to a common currency will reflect market efficiency. Different currencies have different expected inflation levels. If you hedge a Euro-denominated bond back to USD with rolling 30 or 90-day contracts you will (as of this writing) get about a 95 bp hed...
by Lauretta
Mon Oct 02, 2017 1:44 pm
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

I think Lauretta makes a good point. Pricing of bonds between US sovereigns and EUR sovereigns doesn't make any sense at current interest rate differentials IMO. Part of this is that the central banks in EUR and the US are in different points of the interest rate cycle: decreasing interest rates in...
by Lauretta
Mon Oct 02, 2017 1:01 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

I would say Mr. Buffett has a different idea regarding what investing is all about, specifically that it is a business enterprise and not how an individual goes about saving excess income for later consumption, aka retirement. As such his ideas of risk are not contradictory to n/a/w so much as orth...
by Lauretta
Mon Oct 02, 2017 11:10 am
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Re: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

Risk free bond in Eurozone is nearly at negative yield- -some of the shorter dated German bunds are trading at negative nominal yields. Yes, I know, French bonds too. That's why buying an All maturity Eurozone bonds ETF doesn't make any sense to me: all the shorter duration bonds from France and Ge...
by Lauretta
Mon Oct 02, 2017 10:24 am
Forum: Investing - Theory, News & General
Topic: Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?
Replies: 34
Views: 3317

Why do 10-yrs US Treasuries have a higher yield than European Junk Bonds?

I've seen a graph showing that the yield on 10-year US Treasuries (2.33%) is now higher than the yield on European Junk Bonds (2.32%) (unfortunately I am not savvy enough to be able to insert the graph here - showing the evolution of the respective yields). Anyway, how can this be consistent with th...
by Lauretta
Sun Oct 01, 2017 5:59 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

Having scanned a lot of really interesting back and forth in this thread it appears to me that the OP is oscillating between various "all-in" supposed "best" investments for their situation. I would have them consider that balanced portfolios are ways to address a variety of risks. Pretty much the ...
by Lauretta
Sun Oct 01, 2017 4:15 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

It may help for you to have Larry Swedroe's full definitions of ability, need, and willingness to take risk in the three blogs he wrote on the subjects. Here are excerpts from each with links to all following): Ability: "An investor’s ability to take risk is determined by four factors: (1) investme...
by Lauretta
Sun Oct 01, 2017 3:30 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

I think Buffet conflates the low expected return of safe fixed income with risk. Safe fixed income is not risky in the long run, it is low return in the long run. Investment risk is the uncertainty that you'll earn the expected return of the investment. Buffet, and many on this forum, seem to have ...
by Lauretta
Sun Oct 01, 2017 2:38 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

Have you seen this HBO documentary on Warren Buffett? Before you lend credence to his words, you might want to see who it is that is giving this advice. It was a game-changer for me. Yes I think I saw it, though I had not yet begun learning about the stock market then. I remember liking particularl...
by Lauretta
Sun Oct 01, 2017 2:21 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

But, I believe it means that if you have reached your goal you can dial back the degree of risk in your portfolio. But then if you had enough money like the couple in Bernstein's story, what would you do to stop taking risks? Go to cash? Then you'd have inflation risk... :( Perhaps buy TIPs? There ...
by Lauretta
Sun Oct 01, 2017 1:59 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

First, imagine it is 2008 in the US where property prices are going bust. You know a couple that needs to sell their house because they are divorcing or moving to another state. You walk over to their house with a briefcase full of cash and make a low ball offer that is 40% below their asking price...
by Lauretta
Sun Oct 01, 2017 1:28 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

If that is the entire and only objective then it would in theory be met by holding all the assets in TIPS or equivalent. In that case income for you or growth of assets would be limited to the real return of the bonds, maybe about 1% today, but that income could be variable. Also, one should unders...
by Lauretta
Sun Oct 01, 2017 1:17 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

RadAudit wrote:
Sun Oct 01, 2017 1:04 pm
But, I believe it means that if you have reached your goal you can dial back the degree of risk in your portfolio.
But then if you had enough money like the couple in Bernstein's story, what would you do to stop taking risks? Go to cash? Then you'd have inflation risk... :( Perhaps buy TIPs?
by Lauretta
Sun Oct 01, 2017 1:08 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

Lauretta, the thing I would point out is that the proposition that stocks are not risky, or less risky, or become less risky in the long run is controversial . Some say so, some do not. So do not be too quick to take it as simple fact. This point is frequently debated in this forum. I don't want to...
by Lauretta
Sun Oct 01, 2017 12:35 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

Lots of small points. Let us start off with bonds. Currently bonds are a "return free asset". I don't quite buy into that theory 100% but it has some strong points to it. Historically bonds have had positive returns. We live in a odd time. I will point out that Buffett does argue that one should ha...
by Lauretta
Sun Oct 01, 2017 12:30 pm
Forum: Investing - Theory, News & General
Topic: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'
Replies: 50
Views: 2721

Re: Buffett's idea of risk vs risk as in the formula: 'willingness, ability and need'

I would say Mr. Buffett has a different idea regarding what investing is all about, specifically that it is a business enterprise and not how an individual goes about saving excess income for later consumption, aka retirement. As such his ideas of risk are not contradictory to n/a/w so much as orth...