Author: Saj Karsan

Many more new homes are currently being purchased than they are being built. In fact, this process has been occurring for a span of almost two years now, as builders have slashed construction at a faster pace than buyers have...

Charlie Munger, Warren Buffett’s long-time partner, is quoted as saying he made a big mistake several decades ago in not selling some of his assets to buy more shares of Belridge Oil*. By examining the events surrounding...

The mainstream finance industry defines a company’s riskiness by its stock price’s volatility. For value investors, there is no such short cut; a company’s riskiness is defined by a slew of factors that can...

Our regular readers have undoubtedly noticed that we have a tendency to discuss small cap stocks quite a bit on this site. Why? Because among the small cap universe some of the most inefficiently priced stocks can be found. They...

A reader recently pointed out the fact that LoJack (LOJN) appears to be “channel stuffing” its international sales. What exactly is “channel stuffing” and how does one detect whether it’s taking...

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...

In this the final chapter, Klarman discusses the various avenues individual investors may exercise in managing their investments. Klarman argues that investing properly is a full-time job, and that it would be very difficult for...

Without valuing a single stock, it is often possible to determine the extent to which Mr. Market is offering companies for sale at large discounts. Various signals and indicators may be used for this purpose, and we’ve...

As we’ve discussed before, it is much easier to predict a company’s operating earnings than it is its net income, due to changes in debt levels, interest rates, non-operating earnings, and one-time tax items which...