POST OF THE DAY
Rule Maker Strategy
Fool Articles on Valuation

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By wallstgal
January 8, 2001

Posts selected for this feature rarely stand alone. They are usually a part of an ongoing thread, and are out of context when presented here. The material should be read in that light. How are these posts selected? Click here to find out and nominate a post yourself!

Good Morning,
Topics of discussion around Fooldom recently have centered around stock valuation. As a resource for continued study on the subject I went through the Fool On The Hill, Boring Port, and Rule Maker archives and indexed all the relevant articles. Almost all articles are from 2000. I may have missed a couple � did my best to ferret them all out. Some very good material here. I've also included a few outside Fooldom links, and message board posts.

If you have additional resources to add please post. The index was created in MS Word 2000 - the file is posted at My Yahoo Briefcase:

http://briefcase.yahoo.com/bc/evslucy

Perhaps you will find these resources of interest

Regards,
Ev
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Lesson 2000 � Valuation Matters (TMF Centaur)
http://www.fool.com/portfolios/rulemaker/2001/rulemaker010105.htm

Valuing Rule Makers (TMF Gibson)
http://www.fool.com/portfolios/rulemaker/2000/rulemaker001107.htm

Dangers Of Overpaying (TMF Gibson)
http://www.fool.com/news/foth/2000/foth001019.htm

Great Company Bad Stock
http://www.fool.com/news/foth/2000/foth001010.htm

Perils and Prospects In Tech (Whitney Tilson)
http://www.fool.com/boringport/2000/boringport001009.htm

Valuing Stocks By The Market (TMFMax)
http://www.fool.com/news/foth/2000/foth001228.htm

How Much Is That In Present Dollars (TMF Gibson)
http://www.fool.com/news/foth/2000/foth001207.htm

How Much Is That In Real Dollars (TMF Gibson)
http://www.fool.com/news/foth/2000/foth000118.htm

Beware Of Bedazzling Numbers (TMF Gibson)
http://www.fool.com/news/foth/2000/foth001116.htm

Value Investing In The New Economy (Whitney Tilson)
http://www.fool.com/news/foth/2000/foth001114.htm

Thoughts On Value Investing (Whitney Tilson)
http://www.fool.com/news/foth/2000/foth001107.htm

Perils Of Investor Overconfidence (Whitney Tilson)
http://www.fool.com/BoringPort/1999/BoringPort990920.htm

Just How Highly Valued Is Your Stock (TMF Panic)
http://www.fool.com/news/foth/2000/foth000815.htm
Using the enterprise value to invested capital ratio to discover which stock is in reality the most highly valued.

Tasty Values For Patient Investors (TMF Gump)
http://www.fool.com/news/foth/2000/foth000720.htm

...introduce you to some companies that meet value criteria and could attract higher valuations sometime in the next three to five years. As always, one of the biggest challenges with value investing is figuring out when the value will be recognized.

It could be very quickly, it may take years, or it might never happen. Extraordinarily patient value investors will dive in when things look too cheap to pass up, others wait until they see signs that operations have turned around, while quite a few people think value investing is bunk (the number of people in this last category has skyrocketed over the past five years; it'll be interesting to see what they think five or ten years from now).


Valuation Metrics For Unprofitable Companies (TMF Otter)
http://www.fool.com/news/foth/2000/foth000216.htm

Are "Value Investors" Fools or fools (TMF Otter)
http://www.fool.com/news/foth/2000/foth000126.htm

Value Doesn't Work�.Really? (TMF Gump)
http://www.fool.com/news/foth/2000/foth000104.htm

Shopping Like Warren Buffett (TMF Gump)
http://www.fool.com/boringport/2000/boringport000710.htm

Valuation Matters (TMF Gump)
http://www.fool.com/boringport/2000/boringport000612.htm

Charlie Munger Speaks Pt. 1 and 2 (Whitney Tilson)
http://www.fool.com/boringport/2000/boringport000515.htm
http://www.fool.com/BoringPort/2000/boringport00051501.htm

Sustainable Competitive Advantage (Whitney Tilson)
http://www.fool.com/boringport/2000/boringport000228.htm
*** introduction to the work of Michael Porter, Harvard University � one of the most brilliant business scholars around.

American Power Conversion's Valuation (Whitney Tilson)
http://www.fool.com/boringport/2000/boringport000222.htm

Valuation Matters � How To Beat The Market (Whitney Tilson)
http://www.fool.com/boringport/2000/boringport000207.htm


RELEVANT POSTS FROM MESSAGE BOARDS I FOLLOW:
(follow the threads)


Quantitative vs. Fisher Analysis (Nokia Board)
http://boards.fool.com/Message.asp?mid=13592539
the thread continues here:
http://boards.fool.com/Message.asp?mid=13597142

Howfool offers an explanation of Discounted Free Cash Flow and a link to his spreadsheet that does the calculations:
http://boards.fool.com/Message.asp?mid=13606133


ARTICLES OUTSIDE OF FOOLDOM

Mr. Buffett On The Stock Market (Fortune Magazine 11/22/99)
http://www.fortune.com/fortune/1999/11/22/buf.html

Index of all of Whitney Tilson's Writings
http://www.tilsonfunds.com/

Warren Buffett's Letters To Shareholders � 1977- 1999
http://www.berkshirehathaway.com/letters/letters.html

Valuation Contemplations � Stanley Block
http://www.ideaadvisor.com/analyst/article.asp?aid=4153

It's All Relative � Smart Money University ( click on the pull-down menu)
http://university.smartmoney.com/Departments/StrategicInvesting/StockPicking/index.cfm?story=relative