Blogroll

Below you find the blogs and other sources I do follow or read frequently. Further down you will find an all-time best-of-list, where I am going to list articles that I find very useful and that I believe will stay relevant without an expiration date.

What I read

Howard Marks from Oaktree Capital shares his insights on investment topics. Always a must read and highly relevant even after some decades. His writing is so good, that I highly recommend his books (see here and here) if you like his memos.

Value and Opportunity (link) is about value investing topics and summarizes good reads frequently.

Undervalued-Shares (link) is a world-class investment newsletter/service from Swen Lorenz, with some very good content available for free (see his weekly dispatches) that you will not read elsewhere. And even better content is available behind a pay-wall only. I love his style of writing (see also here). I promise, the value you get from him is much higher than the price you pay! If you want to subscribe to his high-quality and off-the-beaten-path content please use my affiliate-link to become a paying subscriber.

Ashworth Damodaran (link) is a very popular the professor teaching about corporate finance and valuation. He blogs regularly about company valuation, oftentimes about the hottest/hyped ones at the time like Facebook, Google, WeWork, Uber, etc. He is a numbers guy and a story guy, which is important in the context of valuations. He writes about his reasoning for doing what he does and why he uses certain assumptions. He also does great YouTube videos. And writes about the basic foundations and concepts in valuation as well as very specific issues.

Vitaly Katsenelson (link) posts about value investing concepts, as well as specic company valuation. Podcasts are also available (here).

Intrinsic Investing (link) is about very good concepts for value investing and discussing specific single-equity investment cases.

Collaborative Fund (link) is about investing, broad topics, technology. Always interesting reads!

Forager Funds (link) is mostly about investment ideas in the Asia Pacific region.

Good Investing TV and its German version Gut Investieren TV offer great interviews with investors. The valueDACH community has a great blog. My guest contribution about Bolloré was published here as well. The website was relaunched as good-investing.net making use of a beautiful layout.

Scott Galloway (profgalloway.com) is a Prof. of Marketing at NYU Stern. I enjoyed his videos on youtube for a long time and now I like to read his articles, mostly about disruptors and disrupteds.

The Economist is one of the best newspaper out there – at least that is my personal opinion. If you do not want to pay for a regular subscription, you could go for either a twelve week trial for € 20 which is always worth it, or create an account for free that enables you to read a few articles per month

The Irrelevant Investor (link).

UK Value Investor or UKVI (link) is very much about his investment strategy with a focus on dividends. I like his writing, because he outlines his investment process, criteria, rules of thumb, and datamodels. Furthermore, he will let you know if and why he changed his process/rules (fine tuning).

German only

echtgeld.tv is a German Podcast series produced by Christian W. Röhl and Tobias Kramer, which I watch or listen to on a regular basis.


Best articles with timeless insights

Vitaly Katsenelson from contrarian investor provides the six commandments of value investments as a great starting point for value-investors-to-be (as an 8-part email series or as podcast). Time for an All-Terrain Investment Portfolio (link) referenced in my post offers a great perspective on portfolio construction for the long-term.

Ensemble Capital’s series on position sizing is a great foundation for the topic (part #1 starts here). Further thoughts are given in When do you average down? from Bronte Capital.

Prof. Damodarans post on how to handle dilution, employee options and multiple share classes when calculating fair value per share within a DCF valuation. And here he provides a great reminder of how important it is to go back to valuation basics, especially during market turmoil (i.e. the corona pandemic).

Here I featured the memoYou bet‘ from Howard Marks from Oaktree Capital comparing gambling and investment descisions based on features as information availability, skill, luck, etc.

Collaborative Fund about the the price premium of sexy assets & opportunities in boring assets (link).

Valuesque explains why flexibility is of high value during stressful times (like corona) in: The Forgotten Factor in Equity Valuation and Analysis!.

Perceived economies of scale, the misleading focus on top line growth or gross profts and what the US shale and technology sectors have in common is all discussed here on lt3000.

Archives

Kevin Muirs blog The MacroTourist (link, new link) with his very interesting (and often a bit funny) perspective on the financial markets. Soon to be received as a payed subscription only 😦

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