Invest with the best on Wall Street and analyze the top-performing hedge funds. Delivered to 850+ readers, Hedge Vision seeks to simplify the obscure investment decisions made by hedge funds and other institutional investors in order to pinpoint companies with exceptional quality and long-term potential.
I also provide portfolio updates to contributing members, as well as my stock purchases and sales in real-time, on Substack Chat. You can find my 2023 portfolio review here:
Articles on Top-Performing Hedge Funds
Greenlight Capital - David Einhorn
About the Author
I began my investment journey in 2016 and hold a Bachelor’s Degree in Finance. I’ve also worked as an analyst at a Fortune 500 company while I currently work as a writer at a financial media publication.
A book that has heavily influenced my investing philosophy is Common Stocks and Uncommon Profits by Philip A. Fisher. Warren Buffett and his counterpart, Charlie Munger, both claim their investing styles have been influenced by Fisher.
I make sure to reference Fisher's 15 Points, a detailed qualitative checklist described in his book, before making any investment decision.
Here are a few of my favorite points:
"Does the company have products or services with sufficient market potential to make possible a sizable increase in sales for at least several years?"
As a growth investor, I prefer to invest in companies with high and recurring sales growth. In my opinion, companies selling products or services that have a consistent and constant stream of demand, like cloud services and cybersecurity, will likely perform well over the long term.
"Does the company have a short-range or long-range outlook in regard to profits?"
An investor should only be focused on the long term outlook of companies that they invest in. Investing in unprofitable companies shouldn't be seen as taboo as long as margins and FCF trend up over the long run. Additionally, the path to profitability should be clearly sustainable.
"Does the management talk freely to investors about its affairs when things are going well but "clam up" when troubles and disappointments occur?"
An ideal company is completely transparent about their operations and financials. No company is immune to bad news, and an honest management team should report all material news to shareholders, rain or shine.
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Disclaimer
Hedge Vision is not investment advice. The information provided in this financial newsletter is for educational and informational purposes only. It is not intended as, and shall not be construed as, investment advice. Readers should conduct personal due diligence and adequate research before taking any investment position.
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