Category Archive

In Bruce Greenwald’s Book – Value Investing: From Graham to Buffett and Beyond, there’s a great passage on what to do when no good opportunities exist. Here’s an excerpt from the book: This brings us by a circuitous route back to modern investment theory and the efficient market hypothesis. Value … Read More

In his latest interview with Barnes & Noble, Bruce Greenwald explains why moats are not that hard to calculate. Here’s an excerpt from the interview: Greenwald: So it is really about, and Buffett’s word for this is moats, moats and franchises are identical, and it turns out moats are not … Read More

In his book – Value Investing: From Graham to Buffett and Beyond, Bruce Greenwald recommends investors search for concealed value in assets under a rock. Here’s an excerpt from the book: It may pay to strain the eyes and devote hours in the examination of a company’s financial accounts, searching … Read More

In his book – Value Investing: From Graham to Buffett and Beyond, Bruce Greenwald discusses how to value growth using the ‘Growth Value Matrix’. Here’s an excerpt from the book: In general, the value created by growth depends on two factors. The first is the profitability of the incremental capital employed; … Read More

In his 2010 Forbes interview, Bruce Greenwald explains why great investors are like mutants without emotion. Here’s an excerpt from the interview: Greenwald: People in every country have always paid for lottery tickets. They’ve always been crappy investments and they’re paying for the hope and the dream. So you want … Read More

In his latest interview with Ironhold Capital, Bruce Greenwald discussed the qualitative characteristics of good management, and how to quantify those factors. Here’s an excerpt from the interview: I think there are qualitative things you want to look for and then there’s actually a quantitative number you want to look … Read More

In his recent interview with Yahoo, Bruce Greenwald discussed why there is no chance Tesla will dominate the car market in twenty years from now. Here’s an excerpt from the discussion: Host: So just to follow that point that would not necessarily bode well to your thinking for Tesla shareholders? … Read More

In this latest interview with Tano Santos at the Heilbrunn Center, Bruce Greenwald discusses his recently released Second Edition of “Value Investing: From Graham to Buffett and Beyond.” During the interview Greenwald provides some great insights into how Warren Buffett identifies and measures the size of franchise business moat. Here’s … Read More

Here’s a great presentation with Bruce Greenwald on the 1st Annual Roger Murray Lecture Series, with Tano Santos. During the presentation Greenwald discusses why investors should focus on the return trajectory when valuing a business. Here’s an excerpt from the presentation: Greenwald: But much more importantly if you think about … Read More

Here’s a great interview with Bruce Greenwald on the Grant’s Current Yield Podcast, discussing the changing landscape for traditional value investing. Here’s an excerpt from the interview: So I think, as you know, value has not done well, and sort of primitive value especially. Which is just low P/E, low … Read More

Here’s a great interview with Bruce Greenwald on the Value Investing With Legends Podcast. During the interview Greenwald explains why old school value investors, who do not evolve, will disappear. Here’s an excerpt from the interview: (36:01) Those three areas are what investment managers do. What portfolio managers do is … Read More

During his recent interview on the Value Investing With Legends Podcast, Bruce Greenwald provided some great insights into the importance of being on the right side of the trade and looking for stocks that are temporarily diseased saying: You always want to think about, why is what I’m doing going … Read More