8 Takeaways from All of Howard Marks’s Letters from 2022
This month, I took the time to read all 8 of Howard Marks’s letters to investors (memos) and summarize them for the average investor. Hopefully you find these lessons to be instructive, and that they make you a better investor. I also highly recommend reading these memos yourself—we’ve included the links at the end of […]
Bruce Sherman’s Investment Strategy That Helped Him Beat the Market
From 1991 – 1995, Bruce Sherman achieved what some consider the holy grail of investing. Sherman beat the S&P 500 without taking on more volatility with the portfolio for Private Capital Management. Private Capital Management was ranked by Money Manager Review as the #1 value manager on a risk-adjusted basis over this 5-year period. The […]
Average Operating (EBIT) Margin by Industry – 22 Years of Data [S&P 500]
Updated 4/21/2023 Operating margin is probably the most useful profitability ratio because it’s much less volatile than net margin but includes all operating expenses to run a business (which gross margin doesn’t). Obviously, we want to see increasing operating margins over time. But how’s an investor to know if a company’s general levels of operating […]
Remembering Foster Friess, His Investment Strategy, and Net Worth
Foster Friess was the founder of The Brandywine Fund, a top performing mutual fund for decades. Friess was interviewed for the 1997 edition of Investment Gurus by Peter Tanous. In the book, it was revealed that in the 10 years since inception, The Brandywine Fund earned an average annualized return of 18.4% (by December 31, […]
8 Top Investing Podcasts
The simple podcast is one of the best resources for learning the ins and outs of the markets. You can use this simple form of learning on the go, doing homework, cleaning the home, or relaxing. Podcasts allow you to focus on the many different aspects of the markets. Whether you are a beginner or […]
Average Gross Profit Margin by Industry – 22 Years of Data [S&P 500]
Updated 4/21/2023 Gross profit margin is one of the three main margin formulas in a company’s income statement, which measures a company’s efficiency in creating profitability. Gross profit margin, or “Gross Margin”, is basically how profitable a product or service is before you account for the operating costs, taxes, and interest payments to run the […]
Publicly Traded Logistics Companies Report: Winter 2022 Results
Public financial data collected by investment newsletter provider Sather Research, LLC showed that 6 Publicly Traded Logistics Companies Grew Total Revenues Over 6% YOY in the October – December Quarter, According to Latest Earnings Releases. Of the publicly traded home builders who released earnings results in January/February, the following 6 companies grew revenues 6%+ YOY: Old Dominion Freight Line, Saia Inc, […]
Quotes from 11 Billionaire Investors about Debt and Finance
There’s no better place to look for financial advice than from the winners of the game. While leverage (debt) can be perceived as a useful tool, you may be surprised at what billionaires think about it. The advice may seem so uncommon, and yet their results are so uncommon. Is it good fortune that created […]
Publicly Traded Home Builders Report: Winter 2022 Results
Public financial data collected by investment newsletter provider Sather Research, LLC showed that 6 Publicly Traded Home Builders Grew Total Revenues Over 19% YOY in the October – December Quarter, According to Latest Earnings Releases. Of the publicly traded home builders who released earnings results in January/February, the following 6 companies grew revenues 19% YOY: D.R. Horton, PulteGroup, Taylor Morrison Home, […]
How to Find the ADR Dividend Tax Policy of a Company in Minutes
An ADR, or American Depositary Receipt, is a simple type of share that allows U.S. investors to invest in companies headquartered outside the U.S. But the taxes for these are anything but simple. For example, the capital gains taxes for ADRs are different than the ADR dividend tax. How these tax rates affect you will […]
