Whether or not a person is capable of waiting for rewards, and thus succeeding in things that require long-term planning such as investing, money management, completing higher education, and sticking with difficult projects for the promise of richer payouts, may not be due to willpower alone. In a new study, researchers Celeste Kidd, Holly Palmeri,…
DetailsEarly morning, a giant package arrived from FedEx containing the historical annual reports of a company I’ve been studying for the past couple of weeks. I’ve built positions in most of the accounts under my purview, including my household portfolios. Even though I have read the financials in PDF format, I want to go back through the hardcopy, line-by-line, and make sure there is nothing I am missing.
DetailsMental Model: The Shoichi Yokoi Fallacy Shoichi Yokoi was a Japanese tailor born in 1915. When he was 25 years old, his country sent him to war with the idea that he and his fellow soldiers were to fight to the death and avoid the shame of surrender. In 1944, the United States military seized…
DetailsThe October panini study continues and I hit upon a huge winner today! It is like autumn distilled into a sandwich. It involves the same eight wheat bread I used yesterday in the blue cheese and plain turkey version, only the meat is a black pepper-edged smoked turkey, with slices of apple-smoked gouda cheese, mayonaise, cranberry chutney, arugula, and a drizzle of olive oil. It would be perfect if you have a cup of spiced cider or apple slices on the side.
DetailsToday was one of the most enjoyable days I’ve ever had. Sometimes, it is the really simple things in life that give it meaning. Everything else is a distraction. I’ll probably spend my evening reading.
DetailsSome of you had asked me to explain how I research stocks – specifically, where I look for investment ideas, which data sets I use, and how I find potential holdings for the portfolios I manage for my household and businesses.
DetailsThe Japanese have a concept known as Arigata-meiwaku. The rough translation is “Unwelcome Kindness” or “Misplaced Kindness”. Arigata-meiwaku is used to describe a situation in which someone does something for you that you didn’t want them to do, and you tried to avoid it. Nevertheless, the person went through with the plan, determined to help you or…
DetailsI’ve done case studies in the past of slower growing, highly profitable businesses such as Clorox, Nestlé, Coca-Cola, Procter & Gamble, and Colgate-Palmolive among them. We’ve also discussed case studies of some initial public offerings, such as an investment in Tiffany & Company twenty-five years ago. I thought it might be interesting to look at another…
DetailsIf you bought $100,000 worth of Nestlé common stock on the first day of trading in 1991, you would, as of October 7th, 2012, own 14,306 shares. At 60.40 CHF per share, this is a market value of 864,082.40 CHF. Translated back into United States dollars, that is $929,718. On top of the $929,718 in stock you own, you would have collected years of cash dividends. How much? Let’s take a look at the whole picture.
DetailsOne of the additions I have been considering adding to the KRIP is The Clorox Company. However, it appears somewhat overvalued right now, offering a lower earnings yield and slower sales growth compared to the S&P 500 if you view the index itself as a single stock, which doesn’t bode well on a relative basis. That…
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