5-Year Review

“I find value investing to be a stimulating, intellectually challenging, ever changing, and financially rewarding discipline.” – Seth Klarman I made my first investment on March 19, 2009 – 200 WFC common shares @$16.73. Having read the Intelligent Investor and…

Performance Review of Student of Value Write-Ups

In my last post, I decided to implement Value and Opportunity’s idea of tracking stocks that I have sold or passed on as a great way of calibrating my investment process.  Here are the results. It has been a little…

Looking Backward and Forward into Your Investment Decisions

Recently, I read a post at the wholesome Value and Opportunity blog titled Sold, Rejected but not Forgotten.  The author takes a look at what he calls second and third level mistakes, i.e., stocks that outperform after you sold and…

Host Your Blog at Amazon Web Services

This is a bit off-topic, but I recently moved my blog to Amazon’s cloud.  The post will be one part about web hosting and one part why Amazon (AMZN) keeps amazing me. Before, this site was hosted on my home…

Geoff Gannon Is Back and He Helps Us Practice Appraisal

As I already confessed in my 15 Value Investing Blogs Worth Your While post, my favorite blogger is Geoff Gannon and he is back with advice and daily practice cases. He insists that if you focus, for no less than…

What Is the Difference between EBITDA and Cash Flow from Operations?

I just picked up the Pershing Square Value and Philanthropy Challenge (held on April 24, 2013) where I left off months ago.  It’s not the only catching up I have to do, but here is why I am sharing this…

15 Value Investing Blogs Worth Your While

It has been almost three months since my last post and the two readers that I had have likely given me up for dead (for the value investing community anyway).  Bloggers tend to do this – wander off.  It has…

Bulgarian Public Companies by Market Capitalization

A-Z of the Bulgarian Stock Exchange (Part 1)

I finally started something I have been planning for a long time – going through all companies listed on the Bulgarian Stock Exchange (BSE).  So far I have only gathered summary information available on local financial websites investor.bg and infostock.bg. …

7 REITs in the BGREIT Index

The Better REITs in BGREIT

As a continuation of my series of posts on Bulgarian real estate and REITs, I am doing a short summary of the companies in the BGREIT index.  The index is defined as: BG REIT is an index based on the…

Google Maps: Sofia, Plovdiv, Varna, Burgas

Historical Bulgarian House Prices, Rents, and Incomes

After the post on FairPlay, several people contacted me with questions about Bulgarian REITs and the real estate market.  So, I compiled some historical data on house prices and rents in major cities.  Unfortunately, information about the resorts is scarce…