QAV Blog

Tony talks about some of his recent “mus­ings” regard­ing bank stocks and com­par­ing the results of his analy­sis of using Stock Doc­tor fil­ters ver­sus our three-point trend lines. Then we talk about his rea­sons for our recent port­fo­lio buys and sells.

We talk about the recent Berk­shire Hath­away AGM, Tony “mus­es” about buy­ing NAB with­out wait­ing for pos­i­tive sen­ti­ment (shock! hor­ror!), dis­cuss­es some new the­o­ries about using Stock Doc­tor fil­ters, and then he answers a ton of your ques­tions about — pyra­mid­ing — whether or not Tony ever sets a mar­gin where he always cash­es in the prof­it — how to cal­cu­late  the intrin­sic val­ue of each of the top 20 stocks — and a heap of ques­tions about draw­ing three-point trend lines.

We’re joined by two young val­ue investors, Jack­son Lee and Ricky Yeo from the Syd­ney Super­in­vestors meet­up, who talk about how they man­age their port­fo­lios and what they con­sid­er to be their hot tips of good val­ue stocks.

Today we answer your ques­tions about why we’re buy­ing back into the mar­ket even though Tony has doubts over the recov­ery — how we account for the qual­i­ty of man­age­ment in our analy­sis — how much atten­tion Tony pays to vol­ume of shares trad­ed — Stock Doc­tor’s “Price to Cash­flow” and “Price to NTA” fil­ters — how to cal­cu­late three-point trend line sell sig­nals — how the check­list weights ‘qual­i­ty’ vs ‘val­ue’ met­rics — how patient Tony is with a stock if it drops soon after he buys it (ver­sus “you breach you gone”) — Stock Doc­tor’s dilut­ed weight­ed no. of ordi­nary shares vs ‘Ful­ly Paid Ord. Shares’ — HAW’s future cash flow — Mil­ton Cor­po­ra­tion’s con­fer­ence call — and how to go about set­ting up a brand new port­fo­lio.