Horizon Kinetics: Value Investing in Long Product Lifecycle Companies

reminiscences of a stock operator pdf

Horizon Kinetics: Value Investing in Long Product Lifecycle Companies

Horizon Kinetics May commentary Long Product Lifecycle: A Predictive Attribute

Regular readers are familiar by now with Horizon Kinetics’ focus on qualitative attributes that may be predictive of out performance. Consistent with the Firm’s long-term value investing philosophy, identification of these traits has been central to our research and investing process since the inception of the Firm. Fundamental research is generally required to identify these characteristics. This is a time-intensive process, which contrasts with the quantitative screens that can be used to identify groups of stocks with similar price to earnings ratios or sector classifications. However, the long-term performance of companies described by these predictive attributes suggests that the effort is worthwhile. Recent commentaries have highlighted owner-operators, dormant assets, spin-offs, bits & pieces, and scalability. This month’s discussion will center around long product lifecycles.

Horizon Kinetics full May letter embedded below

May 2013 Commentary Long Product Lifecycle by ValueWalk.com

About the Author

Sheeraz Raza
Sheeraz is our COO (Chief - Operations), his primary duty is curating and editing of ValueWalk. He is main reason behind the rapid growth of the business. Sheeraz previously ran a taxation firm. He is an expert in technology, he has over 5.5 years of design, development and roll-out experience for SEO and SEM. - Email: sraza(at)valuewalk.com