Author: Saj Karsan

Like the housing industry, the auto industry is currently in the midst of a cyclical downturn. In a cyclical downturn, a drop in demand (caused by a drop in consumer confidence, for example) leads to bloated inventories, which...

Investors looking to understand a company’s current financial position (i.e. the company’s debt levels, its cash balance, what it owns and what it owes) will often flock to the financial statements contained in the...

Charlie Munger is Warren Buffett’s right hand man at Berkshire Hathaway. Over the next few weekends, we’ll be summarizing the text he authored titled “The Psychology Of Human Misjudgement”, where he...

Charlie Munger is Warren Buffett’s right hand man at Berkshire Hathaway. Over the next few weekends, we’ll be summarizing the text he authored titled “The Psychology Of Human Misjudgement”, where he...

Glacier Media (GVC) is a media and information company. The stock has a P/B of just over .5, with a P/E of 7, and a debt to capital ratio of 28%. Sounds cheap right? Not upon closer examination of its balance sheet.While the...

During recessions, not all industries experience the pain (and the enusing recovery) at the same time. Some industries get hurt first, while others don’t feel the ripple effect for several months. With Wall Street’s...

In March of 2009, panic in the market led to an enormous number of value opportunities. Believers in market efficiency would be hard-pressed to justify some of the depressed valuations prevalent in the market at that time. Some...

As noted by Ben Graham, when analyzing a potential investment, it’s important to incorporate several years worth of operating earnings. This is due to the fact that in any one year, various external or internal factors...

Charlie Munger is Warren Buffett’s right hand man at Berkshire Hathaway. Over the next few weekends, we’ll be summarizing the text he authored titled “The Psychology Of Human Misjudgement”, where he...