A Value Investor Is What I Choose To Be

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Sep 30, 2009
I just wanted to take this opportunity and say welcome to the readers of my articles here on GuruFocus.com. IÂ hope that you are finding this powerful site to be a useful resource whether you are an experienced investor or just getting started. Also, I hope that my past and future articles contribute to and continue to enhance your journey.

The articles which I write tend to be focused on the value style of investing as that is what I practice myself and is what I know best as a result. Very important however, especially if you are new to investing, is to pick a style/methodology, learn it well and stick to it. The worst losses in the stock market come from letting your emotions dictate your buy/sell decisions. That is when you are most likely to buy high and sell low; exactly what you do not want to be doing. As a value investor I have a lot of conviction in the value investment philosophy. I definitely do not preach it to be the only way to invest and there are certainly many very successful investors from other disciplines. Over the past few years however I have followed practitioners, read research and conducted some of my own studies. What I have learned is that there truly is a significant and persistent premium attributed to value investing over time and as a result this is the style I am practicing, preaching and most importantly sticking to.

The best way to get started with my articles is by studying my basics course on value investing. This series of articles will give you a brief introduction to the investment methodology which I utilize. Just as there are many value investors out there, there are also many ways to practice value investing. The methodology I use, which I studied with Dr. George Athanassakos (Ben Graham Chair in Value Investing at the University of Western Ontario) while pursuing an MBA, is based largely on the teachings of Bruce Greenwald at Columbia Business School. A great resource for additional information on this methodology is Bruce Greenwald's book - Value Investing: From Graham to Buffett and Beyond.

Please let me know either through the comments or via email (jonathan at jonathangoldberg dot com) if you have any suggestions for content that you would like to see me write on and I will do my best to accommodate. In the past I have written investment ideas, summaries of lectures by notable value investors, market commentary and research findings (of which I admit may be the driest of the bunch i.e. last article). Speaking of research findings, while very dry my last article is an excerpt from a study I have conducted and the excerpt gives a great overview of some important studies which you can research on your own. For those of you that choose to skip that article I hope to have a more "user friendly" one in the future summarizing the findings as well as their applicability to you and your investments.

You have a great resource here at your disposal through GuruFocus.com. I encourage you to read about the many successful value investors out there, study their investments and see how you can incorporate what you learn into your own portfolios. I wish you the best of luck and I hope to be a source of support along the way.


Jonathan Goldberg, MBA

http://www.jonathan.com