Aswath Damodaran: 8 Lessons For Valuing Young Growth Companies

Anyone can value stable, money-making mature companies, but a real test of valuation skill is when you have to evaluate "difficult" companies, according to Aswath Damodaran. In his lecture notes on valuation and calculating intrinsic value, Damodaran declares that valuing young companies, companies that don't fit the accounting mold and [...]

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David Abrams Explains How To Value Stocks

Continued from part one... Q1 hedge fund letters, conference, scoops etc Abrams and his team want to understand the fundamental economics of every opportunity because, "It is easy to tell what has been, and it is easy to tell what is today, but the biggest deal for the investor is to [...]

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Aswath Damodaran: The First Principle of Valuation

Professor of Finance at the Stern School of Business at New York University, Aswath Damodaran is commonly referred to as a modern day Benjamin Graham. His work and insights on corporate finance and equity valuation is second-to-none, and he is one of the leading authorities on equity valuation in [...]

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Millennium Management Pushes Ahead With 3.73% YTD Gain

Millennium Management's USA fund is up 3.73% net for the year to the end of May, according to a copy of the firm's May investor tearsheet, a copy of which has been reviewed by ValueWalk. Q1 hedge fund letters, conference, scoops etc mohamed_hassan / Pixabay For more up-to-date hedge fund content, and exclusive [...]

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Carlson Capital’s Double Black Diamond Adds 2.4% YTD

Carlson Capital's flagship strategy, the multistrategy Double Black Diamond fund, gained 0.1% net last month and is up 0.7% net for the quarter to the end of May. Q1 hedge fund letters, conference, scoops etc Isucc / Pixabay For more up-to-date hedge fund content, and exclusive access to value-focused hedge fund managers, check [...]

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Sohn Hong Kong Conference: Chinese E-Commerce Play

JD.com is currently the second biggest online retailer in China behind Alibaba. However, Tongshu Wang, CIO at WT Asset Management, a greater China equity long-short fund, believes that it is only a matter of time before smaller peer Pinduoduo Inc. overtakes the group as the latter concentrates on building [...]

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Sohn Hong Kong Conference: 2 Undervalued Indian Banks

India is one of the world’s fastest growing economies, it is also one of the world’s most under-banked economies. Q1 hedge fund letters, conference, scoops etc Simon / Pixabay For more up-to-date hedge fund content, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value Stocks. According to [...]

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Shareholder Return Is Our “North Star”

The idea of a real estate investment trust or REIT was first established in 1960 when Congress established the designation as an amendment to the Cigar Excise Tax Extension of 1960. Q1 hedge fund letters, conference, scoops etc rawpixel / Pixabay Since then, thousands of REITs have been created to meet investors [...]

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Li Lu: It’s Best To Spend Years Studying Companies

This is the second part of a short series on an interview with Himalaya Capital's founder and manager Li Lu. Part one is here: Li Lu: Warren Buffett's "Indifference" Towards Making Money Is His Key To Success Q1 hedge fund letters, conference, scoops etc Li Lu's multi-year research process When asked about his research process, and [...]

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DG Value Outperforms With These Stocks In May

DG Value Partners, the value-focused hedge fund managed by DG Capital Management, added to its gains for 2019 during the month of May returning +0.29% for investors net of fees. Following this positive performance, for the year to the end of May, the fund is up 4.72% net. Q1 hedge [...]

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Canyon Capital Profits From Carl Icahn’s Activism

Los Angeles-based hedge fund Canyon Partners doesn't see many opportunities in the current market. The firm, which has around $23 billion of assets under management, is "significantly underinvested" according to co-CEO Joshua Friedman. Speaking with Bloomberg in Davos, Switzerland, at the end of January, Friedman declared that in the [...]

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