Excellent article on Investor psychology & Market cycles based on Howard Marks' "Mastering the Market Cycle".
cc: @dmuthuk @Gautam__Baid
✔️Mania and risk
"The combination of feedback loops and irrational exuberance, where newfound expectations and enthusiasm, encourages investors to bid up and rationalize extraordinary growth in asset prices.
An understanding of where attitudes to risk sits within the current investor psychology cycle can be a useful knowledge advantage.
Marks believes that the biggest source of investment risk is when investors believe that there are no risks at all.
It is helpful to consider the extent to which optimism or pessimism is incorporated into current asset prices. Skepticism is needed when mass optimism or pessimism is in excess. Contrarianism at the right moments is an important ingredient for successful investing
More from Ram Bhupatiraju
Happy 2⃣0⃣2⃣1⃣ to all.🎇
For any Learning machines out there, here are a list of my fav online investing resources. Feel free to add yours.
Let's dive in.
⬇️⬇️⬇️
Investing Services
✔️ @themotleyfool - @TMFStockAdvisor & @TMFRuleBreakers services
✔️ @7investing
✔️ @investing_city
https://t.co/9aUK1Tclw4
✔️ @MorningstarInc Premium
✔️ @SeekingAlpha Marketplaces (Check your area of interest, Free trials, Quality, track record...)
General Finance/Investing
✔️ @morganhousel
https://t.co/f1joTRaG55
✔️ @dollarsanddata
https://t.co/Mj1owkzRc8
✔️ @awealthofcs
https://t.co/y81KHfh8cn
✔️ @iancassel
https://t.co/KEMTBHa8Qk
✔️ @InvestorAmnesia
https://t.co/zFL3H2dk6s
✔️
Tech focused
✔️ @stratechery
https://t.co/VsNwRStY9C
✔️ @bgurley
https://t.co/NKXGtaB6HQ
✔️ @CBinsights
https://t.co/H77hNp2X5R
✔️ @benedictevans
https://t.co/nyOlasCY1o
✔️
Tech Deep dives
✔️ @StackInvesting
https://t.co/WQ1yBYzT2m
✔️ @hhhypergrowth
https://t.co/kcLKITRLz1
✔️ @Beth_Kindig
https://t.co/CjhLRdP7Rh
✔️ @SeifelCapital
https://t.co/CXXG5PY0xX
✔️ @borrowed_ideas
For any Learning machines out there, here are a list of my fav online investing resources. Feel free to add yours.
Let's dive in.
⬇️⬇️⬇️
Investing Services
✔️ @themotleyfool - @TMFStockAdvisor & @TMFRuleBreakers services
✔️ @7investing
✔️ @investing_city
https://t.co/9aUK1Tclw4
✔️ @MorningstarInc Premium
✔️ @SeekingAlpha Marketplaces (Check your area of interest, Free trials, Quality, track record...)
General Finance/Investing
✔️ @morganhousel
https://t.co/f1joTRaG55
✔️ @dollarsanddata
https://t.co/Mj1owkzRc8
✔️ @awealthofcs
https://t.co/y81KHfh8cn
✔️ @iancassel
https://t.co/KEMTBHa8Qk
✔️ @InvestorAmnesia
https://t.co/zFL3H2dk6s
✔️
Tech focused
✔️ @stratechery
https://t.co/VsNwRStY9C
✔️ @bgurley
https://t.co/NKXGtaB6HQ
✔️ @CBinsights
https://t.co/H77hNp2X5R
✔️ @benedictevans
https://t.co/nyOlasCY1o
✔️
Tech Deep dives
✔️ @StackInvesting
https://t.co/WQ1yBYzT2m
✔️ @hhhypergrowth
https://t.co/kcLKITRLz1
✔️ @Beth_Kindig
https://t.co/CjhLRdP7Rh
✔️ @SeifelCapital
https://t.co/CXXG5PY0xX
✔️ @borrowed_ideas
Excellent short summaries of many good investing books. 👏
cc: @dmuthuk @Gautam__Baid
(Some of the pages might open in German. Use the Translate to English option on the
List 👇
Some of my fav summaries from the list.
✔️Quality Investing - Lawrence Cunningham
https://t.co/pmVQFPlWby
✔️The Innovator's Dilemma – Clayton Christensen
https://t.co/VazvMPEE7D
✔️The Little Book That Builds Wealth - Pat Dorsey
https://t.co/sMJspTTQcA
cc: @dmuthuk @Gautam__Baid
(Some of the pages might open in German. Use the Translate to English option on the
List 👇
Some of my fav summaries from the list.
✔️Quality Investing - Lawrence Cunningham
https://t.co/pmVQFPlWby
✔️The Innovator's Dilemma – Clayton Christensen
https://t.co/VazvMPEE7D
✔️The Little Book That Builds Wealth - Pat Dorsey
https://t.co/sMJspTTQcA
More from Investing
🔟Investing Philosophies I greatly admire. Learning from the best Investing Teams out there (that match your Philosophy/Strategy) and improving your own process is one of the best investing hacks. What are some others that you admire?
🔟of my principles at the end.
⬇️⬇️
1⃣ Buffett : Gotta start with the🐐
https://t.co/RKO4BAMbpT
2⃣ Ensemble Capital : @IntrinsicInv @ToddWenning
https://t.co/6Cozku3Vmn
3⃣ Fundsmith : Terry Smith
https://t.co/WqBHvN4RiU
4⃣ Silver Ring Value Partners : Gary Mishuris
https://t.co/hjDC2VBIum
🔟of my principles at the end.
⬇️⬇️
1⃣ Buffett : Gotta start with the🐐
https://t.co/RKO4BAMbpT
2⃣ Ensemble Capital : @IntrinsicInv @ToddWenning
https://t.co/6Cozku3Vmn
3⃣ Fundsmith : Terry Smith
https://t.co/WqBHvN4RiU
4⃣ Silver Ring Value Partners : Gary Mishuris
https://t.co/hjDC2VBIum
How to screen for stocks in the Microcap/Smallcap space?
Look for the following:
1. PE < 15
2. Low debt
3. Low Float
4. No Analyst Coverage
5. High Promoter Holding
6. Recent Promoter Buying
7. High Operating Leverage
8. Conservative Management
9. Blockbuster Earnings Release
What more you should look at?
Read this post, the quote retweets to this and the
Look for the following:
1. PE < 15
2. Low debt
3. Low Float
4. No Analyst Coverage
5. High Promoter Holding
6. Recent Promoter Buying
7. High Operating Leverage
8. Conservative Management
9. Blockbuster Earnings Release
What more you should look at?
Read this post, the quote retweets to this and the
Things I look at before Investing:
— The Disciplined Investor (@Disciplined_Inv) August 27, 2021
Profitable \u2013 Free Cash Flow
Healthy \u2013 Interest Coverage
Quality \u2013 ROCE, ROA, Margins
Valuation \u2013 EV/EBITDA, FCF Yield
Governance \u2013 Dividend, Buybacks
Efficiency \u2013 Cash Conversion Cycle
Growth \u2013 Source of Funds for CAPEX
What do you look at?