Fundamental Analysis and Research
Fundamental Analysis is such a wide ranging subject that whole series of textbooks have been written on it; our members’ papers focus on those aspects that they find important and useful in their day-to-day investment activities and explain how they are used. Come and see how serious investors put the textbooks into practice.
Title:
Long
Term Annual Returns This paper is
restricted to members only
Author: Jim Steel
Description:
For
the really
really long term investor the returns over 40 years!
Title:
Reasons Not To Be Cheerful Autumn 2003, Spring 2004,
Autumn 2007,
Spring 2009
Author: Jim Steel
Description:
In 2008 the credit-crunch, sub-prime crisis and fears of the recession
or depression that they will lead to are mainstream news. But since
2003 SIGnet members have been given a remarkable insight into the
problems that lay ahead in this series of prophetic articles.
Title:
The
Investment
Case
for
China
Author: Jim Steel
Description:
A review of the case for investment in China, referencing books on
it, namely: The Chinese by Jasper Becker (published 2000) and The China
Dream
by Joe Studwell (published 2002). The article identifies some critical
issues with the prima-fascia investment case stemming from the relative
poverty of the population and structural weakness in the economic
system.
Title: Success Breeds Success Autumn 2003, Continuing Success Spring 2004, When Will They Crack Autumn 2004
Author: John Lander
Description:
For the last two
years John Lander has written about companies that continually increase
their earnings per share (eps) over 5 or 10 years or more. The latest
article is in the latest edition of The Serious Investor; the previous
three are here on the website for easy reference.
Title: Intrinsic Value
Author: Martin Davey
Description:
An explanation
of Intrinsic Value, how to calculate it and why it is relevant to the
long term investor.
Title:
Sir
John Templeton
Author:
John Lander
Description:
Sir John Templeton is one of the top stock-pickers in the
world, if the least
known. This article contrasts his views with those of Warren Buffett,
highlighting some important differences, and providing some references
for further reading.
Title:
Debt
and
Delusion
Author:
Jim Steel
Description:
An incisive review of the global macroeconomic situation as it appeared
in the Spring of 2002, with several useful references. On a similar
theme to "Reasons not to be Cheerful" it explains how the debt crisis
is unsustainable. The only issue left unexplained is how the credit
crunch was postponed until 2008!
Title: Chorion and Intangible Fixed Assets
Author: Jim Shoesmith
Description:
Some accounting
matters such as the write of intangible fixed assets, particularly
impairment charges, can be so fundamentally important to investors’
views of a company that there may be a need to go further than the
information in the annual report and accounts. A recent Warren Buffet
Way meeting (7th June 2005) felt this was the case at Chorion. Our
further investigation is important not only for investors in that
company, but also for investors in other companies and for anybody who
needs an understanding of company accounts. The matter is therefore
considered in an article by Jim Shoesmith in the ‘fundamental analysis’
sub-section of the ‘papers section’ within the ‘members only’ part of
this website. Jim wishes to express his thanks and appreciation to
Nigel Milton of IFG and to Sue Murphy the Finance Director of Chorion
for helping him so readily and so speedily.
Title: SIGnet Income Protection Strategy
Description: