• ABOUT
  • CONTACT
  • DISCLAIMER!!!

Wexboy

~ A Value Investing Blog

Wexboy

Tag Archives: debt

Stock Picking…Art, or Science (Part III)?!

19 Thursday Feb 2015

Posted by Wexboy in Uncategorized

≈ 3 Comments

Tags

art vs. science, asset allocation, correlation, debt, diversification, growth vs. value, home bias, illiquidity, stock picking, stock selection, stock valuation, volatility

Well, it’s not ideal publishing another post in this series two months+ after my last post…but I’m obviously no post a day pleaser. And life, Xmas, stocks & markets, and sneaking off to the movies, all tend to get in the way! 😉 A quick (re-)read of Parts I & II might be in order, if you’re so inclined? But to recap, very briefly: In Part I, I stressed stock picking is really two distinct & independent activities:

a) Stock Valuation, and

b) Stock Selection

And all too often, investors confuse & conflate the two…

But presuming your quantitative stock valuation process is nailed down, then stock selection is obviously a far more qualitative process…it’s certainly not about ranking & selecting stocks purely in terms of their upside potential. Fortunately, there’s plenty of stock selection filters you can employ – for example, to help protect against the risks posed by home bias, bottom-up stock picking, and/or a concentrated portfolio. Of course, the overall objective here is to:

i) Ensure stock selection is as much science, as it is art, and

ii) Always strive for greater diversification & superior risk/reward in your portfolio.

Here are some other filters you may find particularly useful. No doubt, as you read, they’ll strike you as perfectly obvious…the trouble is, applying them consistently is easily forgotten when you’re considering individual stock holdings & potential buys, let alone when you’re trying to manage the overall risk/reward of your entire portfolio: Continue reading →

Avon Products – All Pig, No Lipstick…

07 Monday May 2012

Posted by Wexboy in Uncategorized

≈ 7 Comments

Tags

Andrea Jung, Avon Products, bad debt, Brink's, capital expenditure, Coty, debt, free cash flow, intrinsic value, Johnson & Johnson, JP Morgan, M&A, offshore cash, Pension Deficit, Risk Arbitrage, share repurchase, Silpada, Venezuela, Wal-Mart

– Avon Products (AVP:US) has high quality beauty products, a long/distinguished history and a premier reputation in direct sales. It offers its 6.4 million direct sales reps. (‘Avon ladies‘) a compelling income/empowerment opportunity, while offering investors attractive global/emerging markets exposure (83% non-US revenues)

– Sounds like the start of an interesting investment write-up?! But what on earth’s happened to Avon in the past several years? Good God, it’s like hearing your dear old maiden aunt’s been raped by Somalian pirates..!

Continue reading →

Enter email address to track this blog by email.

Join 2,315 other followers

Wexboy on Twitter:

  • It's all fun & games until it's not…again! twitter.com/wallstreetsilv… 14 minutes ago
  • Imagine being arrested & convicted… …’cos you’re too dumb to figure out killing someone with yr car is THE perfect… twitter.com/i/web/status/1… 42 minutes ago
  • RT @TrollFootball: This video is timeless https://t.co/uE0VcYqRRv 1 hour ago
  • RT @LilMoonLambo: nobody: everyone that sold the $ETH bottom: https://t.co/p9zMsCtkDD 1 hour ago
Follow @Wexboy_Value

Wexboy Top Posts

  • KR1 plc...The #Crypto #Alpha Bet
  • H1-2021 Wexboy Portfolio Performance...Yeah, It's a Biggie!
  • A Decade In The Making...a 10-Bagger & a 26.0% pa Investment Track Record
  • 2021...Wow, Another Crazy (Good) Year!

Wexboy Archives

  • January 2022
  • November 2021
  • July 2021
  • January 2021
  • November 2020
  • July 2020
  • January 2020
  • December 2019
  • July 2019
  • January 2019
  • July 2018
  • May 2018
  • February 2018
  • January 2018
  • September 2017
  • August 2017
  • July 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011

Wexboy Categories

  • Uncategorized

Blogroll

  • Above Average Odds Investing
  • Alpha Vulture
  • CantEatValue
  • Cheapskate Investor
  • csinvesting
  • Deep Value Investments
  • Element Value Investor
  • Expecting Value
  • Harriman Intelligence
  • Insider Monkey
  • Interactive Investor Blog
  • Investor Soiree
  • Long Term Value Blog
  • Mallet's Conspiracy
  • Mark Carter
  • Oddball Stocks
  • Philip O'Sullivan's Market Musings
  • Ragnar is a Pirate
  • Reminiscences of a Stockblogger
  • ShareProphets
  • Simple Value Investing
  • The UK Stock Market Almanac
  • Tom Winnifrith
  • UK Value Investor
  • Value Investing France
  • Value Investing Journey
  • Value Uncovered
  • valueandopportunity
  • valuestockinquisition
  • ValueWalk
  • Valuhunteruk

Meta

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.com

Blog at WordPress.com.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
  • Follow Following
    • Wexboy
    • Join 2,315 other followers
    • Already have a WordPress.com account? Log in now.
    • Wexboy
    • Customize
    • Follow Following
    • Sign up
    • Log in
    • Report this content
    • View site in Reader
    • Manage subscriptions
    • Collapse this bar