Introduction to Value Investing

Value investors like Warren Buffett can beat not only the stock market but also most other money managers. Why? What do value investors do differently from other investors? And if value investing works so well, why do so few people use it? In this course, we will introduce a proven value investing model that any motivated person can adopt. We will do this in three steps. First, we will learn how to understand a company by defining its products, customers, form, industry, geography, and status. Such understanding gives us the confidence to hold on to stocks during the inevitable periods of market turbulence. Second, we will master how to gauge a company’s prospects with simple approaches to accounting and strategy. That will let us assess a company’s history, positioning, and shareholder-friendliness. Third, we will learn how to see if a stock is inexpensive. Each week, we’ll apply as much of the model as we’ve developed to a stock of timely interest to perennially outperforming money managers. These companies will be from different industries and geographies. We’ll also learn how to steer clear of biases that can harm returns. By tackling the tools of value investing and the keys to their implementation, students will gain insight into the capital management strategy that performs best over time.

Kenneth Marshall
Chairman, Judicial Capital and Judicial Corporation

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