"I think that people make the error of considering anything with a bid to have value.
Well frankly, many of the things that have a bid on, they may have financial value but have no economic value.

So distinguishing that which has economic value from that which is just a claim or a loan or promise, is just merely a beginning. Because even that which has real economic value, oftentimes, its value is fleeting or is temporal. "

You guys might be interested in this.
https://youtu.be/a4_U6bS-cU4

@theintelligentinvestor @marginofsafety

Read more
11 likes
11 comments
theintelligentinvestor

A high level look at Edelweiss holdings portfolio of 16 businesses in terms of financials.

Some observations:

- He likes low debt businesses, most of them are below 30% debt/equity
- Strong balance sheet
- I think except for 1 company, the others are profitable over the past 5 years.
- Not the cigar-butts type of business as the average PE is 28, PB 2.6
- Most are mid to large cap companies, >500M
- No tech stocks. He seems to like stock related to food, gold, maritime etc.

I like to study good companies and try to understand what other good investors see in them, also why they selected these businesses.

D61320c932ec8cfd03059f69206132b1493d0246
theintelligentinvestor

Reply to @ThumbTackInvestor : They are for my own ref. I want to deep dive into those, probably read their AR, when I have more time.

  View More Replies Small loading
marginofsafety

Liked the interview a lot and thanks for sharing @Simpleinvestorsg.

Did some digging around and found this: https://edelweissholdings.com/documents/EH...

Might be interesting to have a look at the companies he owns. Returns over the past 17 years have been pretty close to the index most probably due to the high amounts of cash/gold he holds over the period.

Sidenote: Found one thing that he and I do the same. We both use the same index as our benchmark LOL.

theintelligentinvestor

Finished viewing the video....twice. :) Have even downloaded the transcripts for slow reading and reflection.

Must say I am impressed by Tony Deden on his investing philosophy and the 3 important principles that he would consider in business participation he would called it, ie Scarcity, Permanence and Independence.

On some of his ideas on capital preservation, risk, price & value, I also have been thinking along the same line. Rare and also refreshing to hear these ideas expressed in so simple terms by, I think, a very wise investor.

Great recommendation, thanks!

marginofsafety

Bookmarked for future viewing! Thanks! Been busy reading lately. Just finished Mastering the Market Cycle and am onto A Random Walk Down Wall Street now. Both timely reads in the current environment. Wouldn't recommend Howard Marks' book though :/

theintelligentinvestor

Reply to @Simpleinvestorsg : I didn't finished reading The Most Important Thing. Idk, maybe it didn't hooked me and keep it interesting. The higher level of thinking is ok.

  View More Replies Small loading
theintelligentinvestor

Wow! Long video, will view it tonight. Thanks in advance!

There are more for you ...

View more and participate in our discussion now. It's FREE.

Creating an account means you’re okay with InvestingNote's Terms and Conditions