archive-au.com » AU » I » INTELLIGENTINVESTOR.COM.AU

Total: 284

Choose link from "Titles, links and description words view":

Or switch to "Titles and links view".
  • Valuation | Doddsville
    about their ASX research at Intelligent Investor Search Connect with us Recent Posts The origins of Passport Capital 15 568 days to the end of oil The worst deal I ve ever seen Doddsville podcast 20 December 2012 Best books of 2012 Recent Comments James Carlisle II commented on 15 568 days to the end of oil Samson commented on Harvey Norman crisis approaching David commented on 15 568 days to the end of oil James Carlisle II commented on 15 568 days to the end of oil Nick Earls commented on 15 568 days to the end of oil Links Bristlemouth Gravy Train How To Invest Intelligent Investor Value Fund Walnut Report Authors Select Category Banking 3 Currency 5 Debt 9 Doddsville Podcast 36 Featured 4 Gareth Brown 48 Gaurav Sodhi 67 Greg Hoffman 27 International investing 10 James Carlisle 3 James Greenhalgh 56 Jason Prowd 18 John Addis 3 Lists 3 Macro environment 16 Management 21 Nathan Bell 43 Opinion 42 Portfolio management 7 Property 1 psychology 8 Resources 21 retail 11 Review 2 Stocks 58 Strategy 9 Telecommunications 1 Tim Searles 1 Twitter Wrap 25 Uncategorized 11 Value investing theory 7 Wayne Jones guest contributor 1 About

    Original URL path: http://blog.intelligentinvestor.com.au/doddsville/tag/valuation/ (2013-02-03)
    Open archived version from archive


  • Facebook 2.0 and subscription media | Doddsville
    after paying of course This allows Facebook to clip the ticket and gives music providers a huge new audience The motivation for Facebook is clear monetising its user base but what s less clear is whether this shift to closed format subscription media services linked to a private platform is beneficial for consumers In effect media companies are attempting to switch spending from single purchases for a digital download or CD to a reoccurring revenue model presumably because they think it ll make them more money Are you willing to swap paying 15 30 for a digital download or CD for a recurring monthly subscription fee P S While we re on the subject of Facebook like our page for all the latest from Intelligent Investor VN F 1 9 20 1166 please wait Rating 5 0 5 1 vote cast Facebook 2 0 and subscription media 5 0 out of 5 based on 1 rating This entry was written by Nathan Bell TII posted on at 10 59 pm filed under Nathan Bell Strategy and tagged Facebook media subscriptions new media social media subscription music Bookmark the permalink Follow any comments here with the RSS feed for this post Both comments and trackbacks are currently closed Doddsville podcast September 29th 2011 Previous Entry Make your own marketable acronym Next Entry Intelligent Investor Analysts Nathan Bell research director works alongside Gareth Brown James Greenhalgh Gaurav Sodhi and Jason Prowd This blog is where they share their thoughts and gather feedback about their ASX research at Intelligent Investor Search Connect with us Recent Posts The origins of Passport Capital 15 568 days to the end of oil The worst deal I ve ever seen Doddsville podcast 20 December 2012 Best books of 2012 Recent Comments James Carlisle II commented on 15

    Original URL path: http://blog.intelligentinvestor.com.au/doddsville/facebook-2-0-and-subscription-media/ (2013-02-03)
    Open archived version from archive

  • Social Media | Doddsville
    is where they share their thoughts and gather feedback about their ASX research at Intelligent Investor Search Connect with us Recent Posts The origins of Passport Capital 15 568 days to the end of oil The worst deal I ve ever seen Doddsville podcast 20 December 2012 Best books of 2012 Recent Comments James Carlisle II commented on 15 568 days to the end of oil Samson commented on Harvey Norman crisis approaching David commented on 15 568 days to the end of oil James Carlisle II commented on 15 568 days to the end of oil Nick Earls commented on 15 568 days to the end of oil Links Bristlemouth Gravy Train How To Invest Intelligent Investor Value Fund Walnut Report Authors Select Category Banking 3 Currency 5 Debt 9 Doddsville Podcast 36 Featured 4 Gareth Brown 48 Gaurav Sodhi 67 Greg Hoffman 27 International investing 10 James Carlisle 3 James Greenhalgh 56 Jason Prowd 18 John Addis 3 Lists 3 Macro environment 16 Management 21 Nathan Bell 43 Opinion 42 Portfolio management 7 Property 1 psychology 8 Resources 21 retail 11 Review 2 Stocks 58 Strategy 9 Telecommunications 1 Tim Searles 1 Twitter Wrap 25 Uncategorized 11 Value

    Original URL path: http://blog.intelligentinvestor.com.au/doddsville/tag/social-media/ (2013-02-03)
    Open archived version from archive

  • What do Mars bars, floor mats and Financial Review have in common? | Doddsville
    so high because the cost of a 1 5k bulbar for example seems insignificant compared to the 70 100k car the person just bought Reply Gareth Brown TII Reply September 16th 2011 at 6 17 pm I don t disagree with the relativity point Cialdini would be proud I m sure it helps overall bullbar sales But the competitive dynamic is also important why buy from ARB rather than TJM or others ARB might make some 350 400 profit from that 1 500 dollar bull bar It doesn t seem outlandish to me but I would say that I m a long term shareholder Because of lower economies of scale a competitor selling a bull bar for 1 500 would either make a lower profit margin or an inferior quality product or both And when they sell for 1 200 you can be sure it s a lower quality product History suggests the consumer benefits giving 1 500 to ARB rather than slightly less to another manufacturer and ARB makes a nice profit margin It s the sort of capitalistic win win that creates much shareholder wealth over time Reply Gareth Brown TII said Posted September 16 2011 at 6 08 pm Good post Nathan although I m not sure you ve got it right with Coca Cola I m pretty sure that over the very long term the price of Coca Cola has risen by less than inflation I m very sure that the average minutes worked to afford a can of Coke has fallen dramatically over the past 120 years Coke s success has come from massively increasing numbers of consumers through population growth and expansion across the world and from significantly high per capita consumption A falling real unit price is a big part of how it increased penetration Reply Phil O Reply September 16th 2011 at 6 14 pm The price difference between coke and pepsi seems to have increased though At the supermarket coke seems considerably more expensive usually Reply Peter said Posted September 17 2011 at 11 05 am That brand loyalty can wane if you are not careful The Italian sportswear company amongst others is one example Back in the 1970 s and 1980 s it was very expensive and desirable product and manufactured in Italy People would not really care what they paid for it just wanted to be seen in it Today it is manufactured in China and people look to buy it at DFO s and factory outlets It has trashed it s brand by going downmarket Price is now important where once it was not Reply Matt said Posted September 17 2011 at 4 56 pm I worked briefly for McDonalds in Canada and research there and in the US that we did showed that long term increases above inflation were leading to a loss of customers This has led to the creation of the Value Picks or Dollar menu which provides a low price volume base for the

    Original URL path: http://blog.intelligentinvestor.com.au/doddsville/what-do-mars-bars-floor-mats-and-the-financial-review-have-in-common/ (2013-02-03)
    Open archived version from archive

  • Robbing banks doesn’t pay; robbing shareholders does | Doddsville
    Panic by Trevor Sykes Two excellent books showing how disgraceful our corporate and legal system really is Reply Simon P said Posted September 8 2011 at 7 43 pm Good article really makes you think twice about life s decisions Here I am gone through university and have 3 years experience in the world of finance stockbroking and earn around old bud from Aristocrats car allowance I don t work in a capital city Glad I still have time to become an overpaid CEO Also its not only the CEOs and board members playing their role of deception I remember a few years ago having a meeting with a Business Development Manager BDM from Great Southern pledging that nothing was wrong with their model and debt and now was a great opportunity to invest client s money in tax effective investments Two weeks later GS went belly up and that BDM didn t have a job The only tax effectiveness would have been the large capital losses to offset any cap gains people had Reply JohnC said Posted September 8 2011 at 8 57 pm CEOs or kings this inequity will not change until the human condition is We let them get away with it because for the most part we don t see the damage these guys inflict incrementally or catastrophically until it s too late to escape heads I win tails you lose Throw in the usual human weaknesses such as the confirmation sunk costs fallacy irrational exuberance attentional bias etc and there you have it a field ripe for con artists pickings However we need only reflect on RHG to think what shareholders were prepared to put up with and how even then sometimes it can still pay off Reply Glenn G said Posted September 8 2011 at 9 15 pm Where did it all go wrong It s becoming increasingly difficult to defend capitalism and free markets to my left friends And to be honest I m starting to doubt it myself The GFC should have wiped out the weak and left the strong but governments stepped in so fearful of an economic downturn they ve done worse long term damage Sadly I can t see the huge imbalance between the top and bottom levelling out any time soon Reply mat said Posted September 9 2011 at 6 54 am Australia has a number of serious problems looming with the right of ownership of private property being one of them Without this an economy falters The above is an example of the abuse of this right I would suggest you and your readers in fact should be compulsory reading for all who invested in timbercorp read pigs at the trough In fact a podcast with the author should be arranged Troubled times to come unfortunately Reply jane said Posted September 9 2011 at 9 31 am yes this sort of stuff drains me i never in my wildest dream thought that such blatantly wrong behaviour and

    Original URL path: http://blog.intelligentinvestor.com.au/doddsville/robbing-banks-doesn%e2%80%99t-pay-robbing-shareholders-does/ (2013-02-03)
    Open archived version from archive

  • Why BlueScope is no steal | Doddsville
    Bookmark the permalink Follow any comments here with the RSS feed for this post Post a comment or leave a trackback Trackback URL Is there a gold bubble Previous Entry Does buying into panic work Next Entry 8 Responses Add Yours Discussion John Retallick said Posted August 25 2011 at 1 47 pm I ve often heard this distinction between cyclical and non cyclical companies sectors Is there an Intelligent Investor article that explains this a bit more Reply Nathan Bell TII Reply August 25th 2011 at 7 23 pm Hi John This isn t particularly substantial but offers a little more of an explanation http www intelligentinvestor com au articles 143 What is our view on cyclical stocks and is there a way to profit from their relationship to the economic cycle cfm This review also might be useful http www intelligentinvestor com au articles 141 Golden rules for losing money part 2 cfm Reply Anthony said Posted August 25 2011 at 4 36 pm Great article I was just wondering what you thought the fair value for Bluescope is Many thanks Anthony Reply Nathan Bell TII Reply August 25th 2011 at 7 36 pm That s a great question Anthony and I think that s exactly why situations like this are potential value traps Value investors are often prepared to buy a lousy company at a bargain price but deciding what is a bargain price when a company faces structural change is extremely difficult Maybe the worst is behind BlueScope Steel but it s not a bet that I m prepared to make when there are so many high quality businesses currently earning huge returns on capital paying high dividends and trading at attractive prices In these situations I think of Buffett s warning You can t pay a low enough multiple for a business in decline Unless BlueScope was a Benjamin Graham net net and I was sure that the value of the assets could be realised without eroding my margin of safety I doubt there is price for me personally I accept others may take a different view though Reply Gareth Brown TII said Posted August 25 2011 at 5 09 pm I m going to invert one of your sentences above Nathan to drive home another lesson my changes in capitals The most important lesson to draw from this debacle is to fully appreciate the difference between a cyclical read temporary UPTURN and a structural permanent change from which a company WILL FOREVER PROSPER Back in 2004 BlueScope and their bulls were referring to China as a huge long term opportunity Due to an unexpected pickup in steel usage in China the country was a large net importer of finished steel back then It was obvious to us and anyone who knows anything about economic theory and the realities of Chinese competition that this situation would last about as long as it takes to build more Chinese steel mills Within two or three years China

    Original URL path: http://blog.intelligentinvestor.com.au/doddsville/why-bluescope-is-no-steal/ (2013-02-03)
    Open archived version from archive

  • Investing lessons from Paris Hilton | Doddsville
    this post Post a comment or leave a trackback Trackback URL Ideas from the 8th Italy Value Investing Seminar Part 1 Previous Entry Doddsville podcast postponed Next Entry 8 Responses Add Yours Discussion johno said Posted July 19 2011 at 9 32 pm Your article reminds me of the old axiom Quality is remembered long after the price is forgotten Quality always shines through and when the chips are down you can always shift quality I always try to assess whether the company I am buying into is a quality coy If it is then the worst that can happen is I have paid too much and I lose a little money If I buy a poor quality company I could end up risking the lot Reply Antony said Posted July 20 2011 at 10 19 am On the other hand many less price conscious passengers are unlikely to switch from Qantas given its unrivalled safety record superior services and loyalty programs I would say Qantas safety record is rather dubious following a spate of mechanical problems in flight service leaves a lot to be desired and a pathetic frequent flyer program I d personally be very happy to try out the Virgin alternative especially if it meant better in flight service Reply Ashleigh Reply July 21st 2011 at 1 34 pm Wait until you do try the low cost carrier alternative When you are only flying for an hour or 2 between capital cities the lack of any service at all or overpriced food is not a hugely big deal On long flights it stinks On routes where you can only take a low cost carrier GRR Qantas still have a very good safety record just lots of publicity with a press thats gunning for them Mechanical failures in airlines are very normal happen every single day and usually go unreported How many passengers has Qantas killed Answer none Best safety record in the world still Admittedly they have been awfully lucky in a few recent cases which could have happened to anyone Exploding oxygen tanks nothing to do with Qantas Engine failure manufacturing defect These things happen Reply David A said Posted July 20 2011 at 7 28 pm Berkshire Hathaway springs to mind Niche in See s Candies low cost in Geico The counter to that is that BRK is really a collection of other businesses that each occupy a position on the continuum Reply Mars said Posted July 21 2011 at 1 11 pm It would be interesting for TII to categorise each of the current buy recommendations or other stocks that TII has a long history of coverage into the above 2 categories As David A above suggests this may not always be simple Reply Andy S said Posted July 22 2011 at 10 51 am Examples of successful low cost but high service businesses How about dominant general retailers such as Coles Woolworths Bunnings Maybe not very highest service levels compared to specialist niche

    Original URL path: http://blog.intelligentinvestor.com.au/doddsville/investing-lessons-from-paris-hilton/ (2013-02-03)
    Open archived version from archive

  • The latest management fad? | Doddsville
    buy something Not sure if this has anything to do with the returns but we will be able to compare service in the coming years as DJ s now has approval to establish at our shopping centre Regards Ron T Reply Phil O said Posted July 10 2011 at 10 58 pm It seems to me the companies that are always focusing on improving customer service do so because the underlying business lacks a meaningful point of difference In many ways apple is ruthless with its customers eg prices it sells products to retailers but it created a product that speaks for itself out of an intimate understanding of the customer It serves customers this way not by offering a fake smile and sending customers a birthday card Reply Matt Reply July 11th 2011 at 9 37 pm This is what I meant by the difference between customer service and customer centricity or intimacy which is also used in the literature on the subject Apple has a dedicated set of customers who love using their products so much they will buy any new product they launch Reply Gary said Posted July 11 2011 at 1 20 pm As always the genius is in doing both things well smart solutions for customers that attract new business and also generate a profit The two don t always go together and as you point out there are plenty of companies that do one or the other very well and still run successful businesses I guess the question for each business is if its worth the risk to not focus on both together This article sounds like advice that the guys behind Sony walkman would have received pre iPod Reply Mars said Posted July 11 2011 at 2 52 pm Great post Nathan and some interesting responses above If a company is to be true to the motto keep your customers happy and aims to put the customer at the forefront of everything it does does this mean the wellbeing of their customers needs to be their raison d etre Well lets see McDonalds one of the great customer focused companies of the world we all know they be put the health and wellbeing of their customers first and foremost mmm Reply Matt Reply July 11th 2011 at 9 41 pm Actually McDonalds is very customer centric People don t go to McDonalds for healthy food McDonalds has a set of measures around quality service cleanliness and value that they use to determine if they are meeting the needs of their customers They aren t a health and wellbeing company so why would they put that first Do you expect Aplle to do something about their customers health and wellbeing Reply Mars Reply July 12th 2011 at 2 05 pm Fully agree Matt i was being sarcastic My point is that this management fad claims that a customer should be at the forefront of everything a successful company does My McDonalds example was intended

    Original URL path: http://blog.intelligentinvestor.com.au/doddsville/the-latest-management-fad/ (2013-02-03)
    Open archived version from archive



  •