As promised recently (and again twice and again and again – were on a role!) we are updating/cleaning etc the investor resource pages on a regular basis. This week, we’ve cleaned up and updated the Francis Chou Resource Page.
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Below is a partial excerpt from both pages followed by link to each full page, which can also be found under Value investors tab on the top of the page or via link-> https://www.valuewalk.com/francis-chou-bio-quotes-videos-letters-resource-page/
Brief excerpt below:
Investment Philosophy
Chou’s investment Philosophy can best be summed up in two words “Buy Bargains”. Of course, buying bargains is no simple matter. Chou can best be categorized as a value investor. Some people have called him a bottom fisher; however, he will typically look for stocks that display the following characteristics:
- Above-average to excellent companies as measured by high ROE in excess of 15 percent sustained over 10 years or more.
- Companies run by skillful managers as measured by good controls maintained on receivables, inventory and fixed assets.
- Prudent deployment of capital as measured by a company’s capital expenditures, judicious acquisitions, and timely buybacks of its depressed shares.
- A stock price which is far lower than what a knowledgeable rational buyer would pay.
See full page here.
