New posts will be coming soon! I’m involved with ongoing developments to the site which, along with other responsibilities, doesn’t leave much time to add new content. In a couple days however I plan on returning stronger than ever with more frequent articles and investment ideas. I am committed to establishing this site as your one-stop resource for all things value investing. You can expect fresh content on a frequent basis, which I hope will enhance your entire investing experience.
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{ 2 comments… read them below or add one }
Hey Jonothan,
I was wondering since you’ve offered in previous articles to do a quick look at Hang Feng or HF on the Toronto exchange. I have looked at this company in the past and come close to buying. I will be revisiting it this weekend with a check sheet tool i’ve been tweaking via various inputs and try to figure out a more solid entry.
I can’t remember if i asked you a while back about NorthWest Co. T.nwf.un? If i did have you had a chance to look at it? I will be reviewing the notes from your site as i think Dr. Athanassakos has some interesting ideas. If i had the money/time (soon to be father of three) i would be interested in taking his courses. Between you Saj and Reyer perhaps i can glean some of his useful advice via you three.
I find valuing a company based on its ‘tangible book value’ not overly hard. Where i struggle is finding a company with good earnings, some debt and a larger amount of goodwill troubling. As such i have avoided many of them. Ag.un-T is a company i quickly looked at last week, but lost interest when i saw the higher debt. Hopefully the EPV will help me get a better handle on “Franchise” type companies. With that i have one final thought. Could you please give a better definition of your version of “Franchise” as used in a few of your past posts.
Thanks
DH
Hi Derek. Unfortunately I haven’t looked at the companies you mentioned, but I look forward to hearing your thoughts on them as you hone your skills. A franchise is when a company has a higher return on capital than the cost of that capital, and when this extra or “franchise” return is sustainable. Many factors contribute to this being sustainable such as economies of scale with captive customers, barriers to entry, etc. I hope this helps.