The heading on this blog post is misleading. Value investing will always adhere to the same principles, no matter what the current market trend is. So what’s the basic principle of a value investment? According to Graham, it is an operation that promises to preserve the principal, and in addition deliver a satisfactory return. Any… Continue reading Value investing in the current market part II
In these turbulent times, it’s time to go back to the basics. I picked up my copy of “Security analysis” and started with the foreword by Seth Klarman. Here are a few of the takeaways. The basic principle of value investing is to buy a business or part of a business for less than it’s… Continue reading Valueinvesting in the current market part I
I found this while surfing the net. It is a quick read, and if you have the time – read it: Why Value Investing Works A quote from Joel Greenblat in the article: “It is very difficult to follow a value approach unless you have sufficient confidence in it. In my books and in my… Continue reading Why does valueinvesting work?
I have added 50 Equinor shares to my portfolio. Equinor is Norways largest company. Its largest income comes from oil and gas, but they are also investing in offshore wind. I’m planning on buying at three seperate occations. The first I bought at 155 nok a share. This means a P/E above 7, and P/B… Continue reading Equinor added to the portfolio
First oil for this field is planned later this year. With an oilprice of $59/barrel Panoro Energy estimates an profit margin of $31-33 /barrel. With todays oilprice this increases a great deal, with more than $20 for each barrel. Some of this will probably be lost to taxes, but still, this will increase the profit… Continue reading BW Offshore – Dussafu
Ocean Yield have been my largest holding in my portfolio of public stocks. I have been an owner since 2013, and I have received a steady increase in dividends. Now I have reduced my holdings to 3/7 of the original investment. A large part of the cash flow comes from the FPSO. This contract is… Continue reading Reducing the exposure in Ocean Yield
In the last month I have bought some more shares in Weifa at nok 24,80, and yesterday I doubled my shares in Treasure. Weifa delivered another record quarter in Q2, and Treasure looks like they are changing their dividend policy. This fall they will pay another dividend, 0,65 nok. If they change their policy to… Continue reading A little update on the portfolio
Over the years I have also been thinking about what I don’t want to invest in. Since the whole point of investing is to make money, there are some things I simply do not want to make money on. For instance tobacco. This is a stable business with great growth opportunities and a (rational?) investor… Continue reading Ethics in investing