Reading Annual Reports of Public Companies to Influence Your Small Business

Each year I pick a reading theme that fills in my time. My primary blocks of reading time in our marketable security business line are filled with companies I have already researched before. Once current on those I like to explore. Having a theme for the year helps give me structure so I don’t wander Read more about Reading Annual Reports of Public Companies to Influence Your Small Business[…]

Reading Every Annual Report for an Industry

People have different ways of uncovering investment ideas. I have tried many of them. When it comes to investing in marketable securities, stock screens and friendly idea sharing appear to be the most popular. For the socially awkward –myself included– a stock screen seems like a great idea. Setup some mathematical filters and only the Read more about Reading Every Annual Report for an Industry[…]

Establishing OKR’s for the Marketable Security Business

We are strong proponents of picking an operating system and using it religiously. Establish a true north and incentivize and demand regular accountability. The key to a good map is focus. The cartographer eliminates the unnecessary. One key element of our playbook is the use of objectives and key results (OKR’s) to establish partnership level, Read more about Establishing OKR’s for the Marketable Security Business[…]

Notes & Commentary on “Common Stocks & Uncommon Profits” by Phil A Fisher (with applications to private companies)

I recently re-read Phil A Fisher’s classic, “Common Stocks and Uncommon Profits.” After first speed-reading a book, I return to those I think worthwhile, and the second time through take notes. On subsequent times I refine my notes. Below are my refined notes after several re-reads. Most of the words are the authors. Any errors Read more about Notes & Commentary on “Common Stocks & Uncommon Profits” by Phil A Fisher (with applications to private companies)[…]

Marketable Securities in a Private Company

Over the last several years we have reviewed nearly one-thousand private companies. A handful held marketable securities. In each case I believe it was the result of a restricted dividend policy. The family business wanted to hold on to more current assets than were immediately required in the business and rather than sit on cash Read more about Marketable Securities in a Private Company[…]