I found this is a sweet little service that will save me the cost of a 10Kwizard subscription. It searches the EDGAR database and creates a custom RSS feed that displays the SEC filings made by a specific company. The search string is by CIK, but the author made a sweet little search box that will look up the CIK for you. This is now my favorite investing tool.
Stock Market Financial Analysis Spreadsheet
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Found this through the MSN Berkshire Hathaway Mailing List. Charlie’s pearls of wisdom are always worth a read.
Charlie Munger - USC Law School Commencement
I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.
Found this through Fat Pitch Financials
In the margins of a letter to a 20-something year old money manager, Warren Buffett succinctly answers a deep philosophical question of value investing. If you had an optimum capital base, which investing style is better, cheap and narrow-moat companies or pricey and wide-moat companies?
Alas, Buffett’s response was not as definitive as one would hope. He said, “Either is fine. [Cheap and Narrow] is better for small sums. [Expensive and Wide] is better for large sums.”
Here is my interpretation. Buffett is referring to relative allocation within a portfolio, rather the total size of the portfolio. If you decide to invest in the cheap category, you need greater diversity to protect against a higher failure rate. Therefore the sums invested in each company should be small in comparison to the total portfolio. On the other hand, a portfolio focused on blue chips should be concentrated because failure is less likely in that group.
It is true that a large capital base cannot find enough small investments to justify the time invested. However the context of Shai’s question clarifies that the portfolio is small enough so that diminishing returns are not a consideration. So, the point of Buffett’s response is not that small investors should be only looking at small caps. Either small or large caps are fine, but the strategy must be appropriate to their size. Don’t concentrate in a few small caps, and don’t buy every blue chip.
financials-webqueries-v2.xls
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Financial data is downloaded from free sources such as Morningstar and Yahoo! Finance via web queries. Data is extracted from the web queries and input into my financial analysis spreadsheet and ratios are calculated automatically.
Disclaimer:
These spreadsheets are offered “as is” without any warranty of any kind, either expressed or implied. Under no circumstances will I be liable for any damage, loss of data or financial injury resulting from the downloading or use of this spreadsheet. Possible damages include, but are not limited to, direct, indirect, special, incidental or consequential damages or other losses arising out of the use of or inability to use any of my spreadsheets.
This work is licensed under a Creative Commons Attribution-NonCommercial 2.5 License.
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Marv