Valuation

Highlight

Blog

12JAN 2018

It is impossible to assess a share without reference to its price

Everybody’s investments go up and down in price and, whenever one of ours goes down, we will take a long-term view on its prospects based not on emotion but on its new price and valuation

2017

SEPTEMBER

19SEP 2017

Blog

Why we bought Provident Financial

The extraordinary amount of bad news surrounding Provident Financial in recent weeks would have been enough to pique the interest of any contrarian – and that is when the hard work of value investing begins

AUGUST

31AUG 2017

Blog

How tobacco stocks could now be damaging to your wealth

When stocks become ‘priced for perfection’, as tobacco businesses now are, even relatively mundane pieces of negative news can have a significant effect on share prices

29AUG 2017

Blog

What you pay, not the growth you get, is the biggest driver of future returns

Investment can be as prone to trends as any other area of life so, to illustrate our confidence that value stands the test of time, we will occasionally republish old Value Perspective articles. This one is from January 2013

22AUG 2017

Blog

What makes a retail stock an attractive value investment?

In addition to a suitably cheap valuation, another important factor for value investors is the strength of a business’s balance sheet and particularly the amount of borrowing it may – or may not – reveal

JULY

21JUL 2017

Blog

Federer beat the averages. How often does this happen when investing?

In becoming the oldest Wimbledon champion of the open era, Roger Federer may have confounded the averages – but the thing about averages is they only happen most of the time

11JUL 2017

Blog

House prices outside London are fair-value

We question whether the correct data is being used to establish house price affordability and if that means house prices are indeed over-priced.

07JUL 2017

Blog

Why consumer goods giants will pay Clooney-tunes prices for rivals

Diageo’s $1bn acquisition of George Clooney’s tequila company is not the first big-money purchase of a relative newcomer by a consumer giant – and here is why it is unlikely to be the last