Monthly Archives: December 2010

Stanley Furniture Part II: No Margin of Safety in This Armoire

As value investors, we are always seeking a Margin of Safety. The MoS can be found in several different areas, including normalized earnings power, discounted cash flow, or hidden real estate or land values. I wrote last week that based … Continue reading

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Stanley Furniture and the Perils of Standardized Financial Data

One of my favorite things about investing is looking at the financial statements of different companies to find really good businesses. To save time, I usually start by looking at the standardized financials on sites like Yahoo Finance, Morningstar, or … Continue reading

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Why another value investing blog?

Warren Buffett once wrote that investment students only needed two well-taught courses: How to Value a Business, and How to Think About Market Prices. When I read most of the “analysis” posted online I see very little understanding of those … Continue reading

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