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Showing posts from December, 2018

Value & Pattern: Fascinated By Abstraction

I was surprised to read that Ben Graham is actually not interested in the details of the company, such as what products they make, and so on. Instead, his concern is in the value of the company: A more abstract concept that is made easier to grasp by accounting numbers. In one occasion, it was said that Ben Graham just looked outside the window and was getting sleepy when an associate gave details of a company. Then, after the end of the brief, Graham just simply said, "But, it is not cheap enough." I find myself in a similar perspective as him. Frankly, I do not really care about what the company is making, about who is managing the company, and myriad other details. Many people, I believe, will find it strange. After all, a common requirement often expected by people hiring an equity analyst (in fundamental department) is that the candidate has strong interest in knowing about companies. They are encouraged to learn everything about the companies and  to put it first