Warren Buffett
Charles Munger
Joel Greenblatt--Special situations and Distressed investing
The blog has a new home
4 years ago
Saturday, October 11, 2008
Computerization and Opinions on Financial press
**This is an excerpt from the text 'Mastering Fundamental Analysis by Michael Thomsett'**
**I have just tried to use his comments here for wider audience. I have no copy rights on this paragraph**
" The computer has served to make the technician more efficient at producing opinion; it has not necessarily improved on the quality of that opinion. Graphic capability has made it easy to produce charts more quickly and for a wide and diverse number of stocks, industry groups, and indexes. This never improves the quality of information; it only makes quantifying easier. So even with more reliable scaling, faster output, and greatly improved turnaround time , questionable information remains questionable."
The above passage holds good every single moment in the stock market. CNBC pours opinions like a rainfall in Africa. How to weed out unimportant suff is the matter of awareness and knowledge which is hard to get. I hope there is a TV channel oneday which disseminates only knowledge rather than opinions. It may not occur because it will be left with no viewership.
**I have just tried to use his comments here for wider audience. I have no copy rights on this paragraph**
" The computer has served to make the technician more efficient at producing opinion; it has not necessarily improved on the quality of that opinion. Graphic capability has made it easy to produce charts more quickly and for a wide and diverse number of stocks, industry groups, and indexes. This never improves the quality of information; it only makes quantifying easier. So even with more reliable scaling, faster output, and greatly improved turnaround time , questionable information remains questionable."
The above passage holds good every single moment in the stock market. CNBC pours opinions like a rainfall in Africa. How to weed out unimportant suff is the matter of awareness and knowledge which is hard to get. I hope there is a TV channel oneday which disseminates only knowledge rather than opinions. It may not occur because it will be left with no viewership.
Wednesday, October 1, 2008
My booklist
Mart Twain "A man who does not read is no better than a man who can't read"
I say "A book worth reading once should be studied thrice". Once I understood the power of good book with a lofty goal and audacious hope, it is just 'Sky is the limit' kind feeling. When you read a good book it is like having a conversation with great thinkers of the world.
Completed and In Progress: (Some of them second round)
The little book on Value investing - Finished
Investment Management - Flash read once
Extraordinary Delusions and the Madness of Crowds
http://www.amazon.com/Extraordinary-Popular-Delusions-Madness-Crowds/dp/051788433X
The Intelligent Investor: The Definitive Book On Value Investing
Understanding computers and Cognition - Reading
Wish List in the next 60 days:
Keys to Reading an Annual Report (Barron’s Business Keys) (Paperback)
by G. Thomas Friedlob, Ralph E. Welton, George Thomas Friedlob
http://www.amazon.com/exec/obidos/ASIN/0764113062/csai-20
http://www.amazon.com/exec/obidos/ASIN/0071357696/csai-20
Financial Accounting (Fourth Edition) with CD-Rom (Hardcover) by Libby
http://www.amazon.com/exec/obidos/ASIN/0072850531/csai-20
The Analysis and Use of Financial Statements by Whitehttp://www.amazon.com/exec/obidos/ASIN/0471375942/csai-20
I say "A book worth reading once should be studied thrice". Once I understood the power of good book with a lofty goal and audacious hope, it is just 'Sky is the limit' kind feeling. When you read a good book it is like having a conversation with great thinkers of the world.
Completed and In Progress: (Some of them second round)
The little book on Value investing - Finished
Investment Management - Flash read once
Extraordinary Delusions and the Madness of Crowds
http://www.amazon.com/Extraordinary-Popular-Delusions-Madness-Crowds/dp/051788433X
The Intelligent Investor: The Definitive Book On Value Investing
Revised Edition (Paperback) by Benjamin Graham, Jason Csaieig
(The best investment book ever according to Buffett.)
http://www.amazon.com/exec/obidos/ASIN/0060555661/csai-20
The Interpretation of Financial Statements (Hardcover) (Second round)
by Benjamin O. Graham, Spencer B. Meredith
http://www.amazon.com/exec/obidos/ASIN/0887309135/csai-20
Security Analysis: The Classic 1940 Edition (2nd Ed. Hardcover)
by Benjamin Graham, David Dodd
(The textbook Buffett used at Columbia)
http://www.amazon.com/exec/obidos/ASIN/007141228X/csai-20
The Five Rules for Successful Stock Investing: Morningstar’s Guide to Building Wealth and Winning in the Market
by Pat Dorsey, Joe Mansueto
http://www.amazon.com/exec/obidos/ASIN/0471269654/csai-20
You Can Be a Stock Market Genius : Uncover the Secret Hiding Places of Stock Market Profits
by Joel Greenblatt
http://www.amazon.com/exec/obidos/ASIN/0684840073/csai-20
Buffett : The Making of an American Capitalist
by Roger Lowenstein
http://www.amazon.com/exec/obidos/ASIN/0385484917/csai-20
The Warren Buffett Way, Second Edition
by Robert G. Hagstrom
http://www.amazon.com/exec/obidos/ASIN/0471648116/csai-20
2008 SEC Guidelines; Rules and Regulations; As of December 2007 (Paperback)
by Gorham & Lamont Warren
http://www.amazon.com/exec/obidos/ASIN/B0015GVPN4/csai-20
Value Investing Made Easy: Benjamin Graham’s Classic Investment Strategy Explained
for Everyone (Paperback) by Janet Lowe
http://www.amazon.com/exec/obidos/ASIN/0070388644/csai-20
The New Buffettology, by Mary Buffett and David Clark
http://www.amazon.com/exec/obidos/ASIN/0684871742/csai-20
Value Investing : From Graham to Buffett and Beyond, by Bruce Greenwald
http://www.amazon.com/exec/obidos/ASIN/0471463396/csai-20
Wall Street On Sale (Hardcover) by Timothy Vick
http://www.amazon.com/exec/obidos/ASIN/0071342052/csai-20
Baruch: My Own Story
by Bernard M. Baruch (Benefactor of Bernard M. Baruch College, CUNY)
http://www.amazon.com/exec/obidos/ASIN/156849095X/csai-20
Benjamin Graham on Value Investing: Lessons from the Dean of Wall Street
by Janet Lowe
http://www.amazon.com/exec/obidos/ASIN/0140255346/csai-20
Understanding computers and Cognition - Reading
Wish List in the next 60 days:
Keys to Reading an Annual Report (Barron’s Business Keys) (Paperback)
by G. Thomas Friedlob, Ralph E. Welton, George Thomas Friedlob
http://www.amazon.com/exec/obidos/ASIN/0764113062/csai-20
Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, Second Edition
by Howard M. Schilit
http://www.amazon.com/exec/obidos/ASIN/0071386262/csai-20
http://www.amazon.com/exec/obidos/ASIN/0071357696/csai-20
Financial Accounting (Fourth Edition) with CD-Rom (Hardcover) by Libby
http://www.amazon.com/exec/obidos/ASIN/0072850531/csai-20
The Analysis and Use of Financial Statements by Whitehttp://www.amazon.com/exec/obidos/ASIN/0471375942/csai-20
Common Stocks and Uncommon Profits and Other Writings (Paperback)
by Philip A. Fisher, Kenneth L. Fisher
http://www.amazon.com/exec/obidos/ASIN/0471445509/csai-20
One Up On Wall Street : How To Use What You Already Know To Make Money In The Market
by Peter Lynch, John Rothchild
http://www.amazon.com/exec/obidos/ASIN/0743200403/csai-20
Beating the Street
by Peter Lynch, John Rothchild
http://www.amazon.com/exec/obidos/ASIN/0671891634/csai-20
How to Be Rich, by J. Paul Getty
http://www.amazon.com/exec/obidos/ASIN/0515087378/csai-20
Keys to Reading an Annual Report (Barron’s Business Keys) (Paperback)
by G. Thomas Friedlob, Ralph E. Welton, George Thomas Friedlob
http://www.amazon.com/exec/obidos/ASIN/0764113062/csai-20
One Up On Wall Street : How To Use What You Already Know To Make Money In The Market
by Peter Lynch, John Rothchild
http://www.amazon.com/exec/obidos/ASIN/0743200403/csai-20
Beating the Street
by Peter Lynch, John Rothchild
http://www.amazon.com/exec/obidos/ASIN/0671891634/csai-20
How to Be Rich, by J. Paul Getty
http://www.amazon.com/exec/obidos/ASIN/0515087378/csai-20
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