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.
Alex Hay is a partner at broking firm EL&C Baillieu. He has been Tony’s stock broker for 25+ years. Alex joined us recently to chat about the services firms like his provide, his relationship with Tony, and what he thinks might happen in the market over the next 6–12 months.
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.
Chris Tate from Talking Trading and The Trading Game joins us today to talk about his approach to investing, futures trading and turtle trading. Then we answer some listener questions about whether or not the market has priced in the coming economic carnage.