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:

Perhaps you will find these resources of interest


Lesson 2000 � Valuation Matters (TMF Centaur)

Valuing Rule Makers (TMF Gibson)

Dangers Of Overpaying (TMF Gibson)

Great Company Bad Stock

Perils and Prospects In Tech (Whitney Tilson)

Valuing Stocks By The Market (TMFMax)

How Much Is That In Present Dollars (TMF Gibson)

How Much Is That In Real Dollars (TMF Gibson)

Beware Of Bedazzling Numbers (TMF Gibson)

Value Investing In The New Economy (Whitney Tilson)

Thoughts On Value Investing (Whitney Tilson)

Perils Of Investor Overconfidence (Whitney Tilson)

Just How Highly Valued Is Your Stock (TMF Panic)
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)

...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)

Are "Value Investors" Fools or fools (TMF Otter)

Value Doesn't Work�.Really? (TMF Gump)

Shopping Like Warren Buffett (TMF Gump)

Valuation Matters (TMF Gump)

Charlie Munger Speaks Pt. 1 and 2 (Whitney Tilson)

Sustainable Competitive Advantage (Whitney Tilson)
*** introduction to the work of Michael Porter, Harvard University � one of the most brilliant business scholars around.

American Power Conversion's Valuation (Whitney Tilson)

Valuation Matters � How To Beat The Market (Whitney Tilson)

(follow the threads)

Quantitative vs. Fisher Analysis (Nokia Board)
the thread continues here:

Howfool offers an explanation of Discounted Free Cash Flow and a link to his spreadsheet that does the calculations:


Mr. Buffett On The Stock Market (Fortune Magazine 11/22/99)

Index of all of Whitney Tilson's Writings

Warren Buffett's Letters To Shareholders � 1977- 1999

Valuation Contemplations � Stanley Block

It's All Relative � Smart Money University ( click on the pull-down menu)