Wednesday, December 12, 2018

Charts #17: Billion Dollar Club

Found this recently on WSJ. Most interesting.



The global QE created this. Hundreds of billions of dollars in valuations of companies with no earnings. Surely it would have been unthinkable for Ben Graham. The father of value investing only bought stocks trading below its book value.

His most famous strategy was buying net-nets: companies with market caps that were less than the company's current assets minus its total liabilities. 

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