Summary of the Value Investing Seminar on 7th June 2013

 P.I.E.C.E Method to evaluate a value stock (at least 5 years data)

·         Profitability – consistent EPS

·         Inflow of cash – consistent positive cash flow from operating activities

·         Efficiency – ROE > 15%

·         Conservative debt – Debt/Equity < 50%

·         Environment S.C.A.N (Specialized products/services, Competitive advantages, Ability to raise price, New technology risks

Buffet’s core investment traits – P.C.C.D

·         Patience – buy and hold

·         Clarity – Invest in business you understand

·         Confidence – be greedy when others are fearful

·         Discipline – rule#1 never lose money