Sunday Long Reads: Bitcoin at sea, China propaganda, Left behind in Nazi Austria, Anthony Bourdain, Poker ETG
Published 5 days ago
I wonder if this reader is Malcolm Stacey in disguise? He seems a terribly optimistic fellow dismissing all my bear points made in today's bonus bearcast. Calling himself "KeepingTWhonest" he opines:
Published 91 days ago
A pretty poor first trading week of September has got the press all flustered with talk of the FTSE 100 being at five-month lows. Older stock market hands of course know that this is when it starts to become interesting, after all it is better to buy low and sell higher than the other way around.
Published 267 days ago
Looking down my shopping list for dividend munchers in the wake of our mini-crash (see HERE) I see fully listed BT (BT.A) on a yield of 6.82%. I’m no expert in these large-caps (so this is NOT a tip!), but that seemed pretty tasty to me and worth a bit of a look – my first port of call being what the ShareProphets large-cap professor, Chris Bailey, had to say (see HERE).
Published 279 days ago
I can’t say I know alot more about Yolo Leisure & Technology (YOLO) than I’ve learned in the last hour or so, but on no news the shares are near the top of the ADVFN losers leaderboard at -17.65%. I wonder why.
Published 289 days ago
I haven’t commented on fully listed Interserve (IRV) for a while. This, of course, is another outsourcing company doing our blessed government’s good works for it – and, like Carillion (RIP) is struggling with its debt (albeit we are to believe to a lesser extent). It is also a company which has delivered less than complete clarity. But it is under new management. So I wonder why the shares (now down to just 64.9p to sell as at Friday’s close) have again been slipping.
Published 313 days ago
Capita (CPI) is the latest high profile catastrophe for Britain's most conceited fund manager, Neil "Nomates" Woodford. Before we go to a chart of shame, a couple of choice quotes from his December montjhy excuse-sheet, sorry fact-sheet, published on 19 January
Published 320 days ago
Jamie Oliver insults Brexit voters (i.e. 52% of the population) and his business is going down the plughole. Tim Martin of JD Wetherspoon tells it as it is and has served up a cracking trading statement today with his company trading strongly and ahead of forecast. Perhaps a lesson there for you Jamie, you patronising and unintelligent little man. Back to our hero Martin whose message on Brexit is uncompromising, lashing out at the CBI, The Guardian and others who tell lies.
Published 379 days ago
Giants of investment analysis like Benjamin Graham and Warren Buffett have told us that the stock market is a voting machine in the short-term and a weighing machine in the longer-term...and of course there is more than a hint of truth to such observations. Hype, hope, spin, right-on trends and related can push a share up or down for a while but gravity always wins in the end in the form of cash flows and reality. And with such an observation we turn to to the runners and riders for the upcoming quarterly FTSE-100 and FTSE-250 reshuffle.
Published 384 days ago
As I noted earlier the fantasist Chris Oil has returned to twitter as a result of "exceptional demand". And as you can see he wants to take AIM back for the "good of honest investors". Great Chris. we wish you well and it is good to have someone as honest as you fighting the good fight. I see that I am not alone in holding that view. Last Thursday, according to twitter counter he had just 2,787 follower. Wind forward a few days...
Published 384 days ago
The only suprise is that the market abuser Chris Oil has not rebranded as Chris BlockChain. But after an absence of well over a year from the public arena, the man who, modestly, compared himself to Warren Buffett is back! Hooray, his investment advice has always been a golden (counter) indicator.
Published 427 days ago
Answers on a postcard. But for starters, one Hathaway, One had a way but lost it. I start with a detailed look at the Woodford Patient Capital Trust (WPCT) then run some numbers by you on LPE's and Purplebricks (PURP). I mention UK Oil & Gas (UKOG) en passant, Jersey Oil & Gas (JOG), Columbus Energy (CERP), Mirada (MIRA) and finally Conroy Gold & Natural Resources (CGNR)
Published 452 days ago
Precious metals guru David Morgan is excited about the future of silver, “I have a lot tied to this sector. I’ve always felt that the highest calling you can have is to live your passion. You can be self-serving and serve others at the same time.”
Published 452 days ago
Neil Woodford, Paul Scott and the man who compares himself to Warren Buffett, Roger Lawson, have no doubt done full due diligence on the manangement at Purplebricks (PURP), notably its founders, the Bruce brothers. Or maybe not...
Published 469 days ago
I got an email this morning from a man who I shall not name, for obvious reasons. It is heart breaking material. So here is his email and my reply.
Published 472 days ago
It is quite amazing to see just how few friends fund manager Neil Woodford has in the City these days. It is almost as if I am starting to feel that he is a kindred spirit. Neil, how about we have a joint Square Mile Christmas party for all of our friends in a telephone kiosk somewhere? The vast fees Nomates has charged for delivering three years of dismal underperformance do not play well but it is the arrogant insistence that Mr Market is always wrong because Nomates knows better that has unleashed such waves of schadenfreude after his latest disasters. But he still has one or two defenders who say "aha remember 2001" - but this Maginot defence does not wash.
Published 476 days ago
.Bushveld Minerals (BMN) shareholders, aka the dumbest fucks on AIM, are still largely in denial about the fact that a major placing is imminent. This is because they do not understand the difference between profit and cashflow or indeed much else about basic accounts. I will try again. Owning 27% of a company with modest EBITDA (bullshit earnings) is not the same as having a source of cashflow. In fact I bet you an ounce of Vanadium that Vametco will not generate a free cent for Bushveld this year or next.
Published 476 days ago
Passive investment is always at its most seductive and most popular at the top of the market and usually after a long bull run.
Published 482 days ago
After months of promises and delays, Jim Mellon's FastForward Innovations (FFWD) finally provided further details of the potential merger of investee company Schoold with Lingo Media this morning. I can see why it was reticent about making the announcement as it doesn’t make pretty reading.
Published 493 days ago
On Monday evening we were treated to the shock news that blur (BLUR) founder Phil Letts had been given the order of the boot just 18 days after his ghastly Mrs Kara Cardinale was also handed a P45 and a black bin liner. While the two of them relax at their luxury Devon Estate, shares in blur have enjoyed a relief rally to 4.75p ( now just 98.5% off their peak) but is that share price spike justified. Like hell it is.
Published 517 days ago
There are numerous reasons NOT to own shares in sub scale and underperforming Paternoster Resources (PRS) as I explained at the weekend HERE. But there is a different way of looking at this piece of investment crap.
Published 524 days ago
My contention, questioned by certain other well known share bloggers, is that TrakM8 (TRAK) is what Warren Buffett would define as a "bad company." That is not saying that it is a fraud. It is not, although it has told untruth's in RNS's and raised cash to buy some strange old businesses. It is bad because it just does not generate free cashflow. Paul Scott, PR crony capitalist Reg Hoare or the paid corporate shrills can bang on abourt earnings per share till the cows come home but earnings are a matter of opinion, cash is a matter of fact. Trakm8 yesterday published its, piss poor, results for the year ended 31 March 2017.
Published 529 days ago
We all know that stockmarkets are rigged and that fraud is endemic. So what is the answer? Natch. Clamp down on short sellers. That is the answer those who benefit from the scams such as Stockmarket bosses, as well as those who lose like Bulletin Board Morons, always come up with. What short sellers do is immoral. In fact it is down right unpatriotic. You could not make this nonsense up. But as the excellent article below from a website you must start reading ( www.Wolfstreet.com ) shows, we already live in this parallel universe.
Published 553 days ago
Over recent years Warren Buffett has been hoarding dollars at a colossal rate. This was first really noticeable in August 2014. At that time, Buffett was holding about $50 billion and he was already 83 years old. Even then his hoard of dollars was already the largest of his entire career. But over the last three years this sum has swelled to $100 billion in size.
Published 578 days ago
England (well mainly the South East) subsidises Wales, Scotland and Northern Ireland. C'est la vie. It is part of being a United Kingdom. Personally I'd send all the Celtic loons packing, give them their independence and slash taxes for we hard working residents of England. But that is not the way and just to rub our noses in it, Welsh resident, Malcolm Stacey celebrates how local councils and the Welsh Assrembly have ponied up £50 million to turn some Godforsaken post industrial shit hole in South Wales into a new "Silicon Valley." Bollocks.
Published 630 days ago
Poster wiids on the LSE Asylum should not be confused with our own in-house loon Wildes. Frankly Wiids makes our in house pet loon look like Warren Buffett. The LSE Loon is a strong contender for BB Moron of the Year with this classic from last week but it is a bit like Ed Sheeran and the top 10 (heck kids I know what is hip & trending!), Wiids is dominating the Bulletin Board Morons chart. You can see a number of postings by this loon in last week's contest but the winner, nominated by a number of you, is:
Published 808 days ago
At almost no-one-is-watching o’clock yesterday (4pm) a complete waste of space POS on AIM called Draganfly Investments Limited (DRG) announced that it had raised a poxy £145,000 before expenses through the good offices of its Broker Beaufort Securities at 0.8p a share – a discount to the prevailing share price of 27% - representing 35% of the existing equity. Ouch and double ouch. But the whole thing is a complete joke of an enterprise.
Published 824 days ago
In this podcast I refer to an article I penned today on the greedy bastards that are the junior doctors HERE. My central theme is various ways that Warren Buffett would define companies as "bad" and in that vein I look at CMC Markets (CMC), TrakM8 (TRAK) and in some detail the uber ramped dog with fleas that is Starcom (STAR) which I covered a month ago -gosh my analysis is good (as you can see here).
Published 884 days ago
Full disclosure: I am a gold-bug. I love gold. And I think the economic doom-mongers like Peter Schiff make fantastic arguments for a radically higher gold price. We are in uncharted monetary territory which threatens the fundamental integrity of our paper currencies. But I also know that investing on the basis of an impending apocalypse means betting on something that has never happened before. History tells us that stock markets and most of their constituents tend to survive wars, disasters, economic collapse, etc.
Published 907 days ago
“CloudTag (CTAG), the company that brings personal monitoring to the health, wellbeing and fitness markets, is pleased to announce an operational update and to announce it has raised £470,000 by way of a subscription for new ordinary shares”. At 6.05p, this now means a market cap here of more than £19.5 million. Hmmm…
Published 945 days ago
In Rome on Thursday, in the very same room where the famous treaty was signed in 1957, Martin Schultz, president of the European Parliament, complained that ‘we have a lot of salesmen in the European Council and only a few statesmen’. The problem with the idea of one EU state and one vision was and is an illusion. The 28 nation block lacks leadership and is descending into petty, nationalistic political trends being exacerbated by mass immigration and poor fiscal disciplines.
Published 948 days ago
AIM is home to an incredible variety of companies. That’s great news for those of us with short attention spans – we can never get bored digging around for AIM treasure (or as Buffett might say, there are many rocks for us to look underneath).
Published 979 days ago
We all know that on the world's most successful growth market EBITDA is a popular way to present bad numbers as good ones. But what do those letters really stand for? Post your answers in the comments section below.
Published 985 days ago
Any readers of my articles will know I have a major dislike of subscale investment companies but I must admit that I have a soft spot for Athelney Trust (ATY) due to a particular similarity with Berkshire Hathaway.
Published 989 days ago
Call this one of the unwritten Tom Winnifrith golden rules but a company that boasts of grant wins from the State is in general a sell. This may be a tad unfair but the fact is that Government's are invariably the worst investors - they make your average Bulletin Board Moron look like Warren Buffett when it comes to spunking cash on losers.
Published 1011 days ago
Some good news from the ShareProphets AIM-China Filthy Forty in the form of a proposed disposal by Asian Growth Properties (AGP) was detailed on Tuesday. At its last set of numbers interims to June 2015 the company stated NAV per share at 125p and until recently the shares had been trading at a fraction of that (sub-20p). The news saw the shares race away to close at 46.5p mid, although they gave some back on Thursday.
Published 1031 days ago
Hello Share Trundlers. Having just seen the new film ‘Dad’s Army’, I keep recalling the desperate question ‘Permission to panic. Captain?’ In the case of your share portfolio, I would say ’No’.
Published 1035 days ago
Tungsten Corp (TUNG) has updated that “trading in the third quarter was in line with market expectations, and that revenues for the full year to 30 April 2016 are expected to be broadly in line with its previous guidance”. With that guidance – for “revenue of at least £27.5m” – emphasised as recently as December, the now only “broadly” in line has helped the shares currently around 8% lower today towards 60p. And there is more…
Published 1044 days ago
I indicated in part 1 of my results analysis that there were a few bits and bobs in the Tern (TERN) Annual Report which had not made in into the RNS version of the FY15 results. Often it pays, when studying a company’s numbers, to begin with the notes to the accounts and then work backwards from there. And so here are a few things which caught my eye.
Published 1075 days ago
A reader posted on our comments section: "Ive also just bought into FFWD. Tom why can't you tip this for 2016 instead of repeat tips on OPTI and NIPT?" Hmmm well I am sure that Optiobiotix shares will race ahead ( 100p + within weeks after the next deal is announced) and that Premaitha will announce new contracts and that it is passed the inflexion point of cash breakeven soon and that its shares will head to 30p+. That is why I tip them as buys. You want me to tip shares that will go up ,right? But your wish is my command and so I will also tip FastForward Innovations. But as a sell at 17p.
Published 1075 days ago
It is of course not necessarily the best of times to be looking at mining stocks on the bull tack, especially given the way that even one of the greatest investors of all of time, Warren Buffett, has had his worst year since 2009 due to the impact of the resources stocks meltdown.
Published 1095 days ago
Let me know if you can find a sector more opaque than the insurance sector. In too many years of pacing through corporate reports I cannot think of a sector that consistently bamboozles even experienced analysts with all sorts of anachronistic terminology.
Published 1129 days ago
Ben Graham value investing now exists in the mining space – the type of investing that Warren Buffet is famous for. But this is simply NOT supposed happen. Why? Because mining companies have reserves and resources in the ground, which are reflected in a company’s share price… that is, in a normal market.
Published 1151 days ago
An AIM Notice was put out yesterday which shows that there may at least be some vestige of a pulse amongst the regulators of the AIM market. You can read it HERE. With the burgeoning number of sub-scale cash shells on the London Stock Exchange’s junior market which are simply frittering away shareholders’ cash on corporate costs but not achieving anything which will make a return, it is being proposed that the AIM rules be changed so that any new listing of a cash shell is subject to the raising of £6 million (up from £3 million), and that cash-shells resulting from corporate restructurings are given just six months to complete a deal before shares are suspended.
Published 1171 days ago
Since I first commented on Imaginatik plc (IMTK) as its shares soared to 8p and beyond in June, I have been bearish. However, does Chairman Matt Cooper deserve a smidgeon of credit now?...
Published 1206 days ago
Most folks will not enjoy reviewing their portfolios this morning after last week's stockmarket meltdown. Even the man who says that he is better at stock picking than Warren Buffett, Mr Chris Oil, is having a bad time. To lighten the mood we ask you for captions for any of the pictures below - the deadline for entries is midnight Sunday. Come on Malcolm, give us your bullish take on these reminders that nothing changes....
Published 1208 days ago
Market abuser Chris Oil modestly claimed that he was better than Warren Buffett when it came to stock selection. But it seems that the Sage of B&B had a rather bad month or two. In fact his losses on just three stocks since early July appear to be almost £0.5 million. Given that Oil reckons that his family discovered the North Sea, this may well be small change to the Sage of Fantasy, but we suspect however that it is not.
Published 1223 days ago
If you want me to analyse a stock for you just drop me a line at [email protected] - Today I look at MX Oil (MXO), New World Oil & Gas (NEW), Oilex (OEX), Sefton Resources (SER), the "dream portfolio" of the man who claims to be better than Warren Buffett, Mr Chris Oil
Published 1245 days ago
Warren Buffett says that anyone who uses EBITDA is either trying to fool you or to fool themselves and that brings us to a comedy profits warning from POS AIM casino dog Iofina (IOF) issued first thing today. What clowns.
Published 1245 days ago
First the polite Steve Moore, the rather more brutal TW to follow. SM: Towards the end of last month I noted that as Quindell plc (QPP) had been in the news, the acquirer of its Professional Services Division, Slater & Gordon, had been in the spotlight in Australia – S&G eventually admitting that the Australian Securities & Investment Commission had been in contact with its auditor, though that “we remain very confident in the robustness of our accounting practices”. Hmmm…
Published 1265 days ago
As Quindell plc (QPP) is in the news HERE, the acquirer of its Professional Services Division, Slater & Gordon, has been in the spotlight in Australia…
Published 1272 days ago
The average gain per share tip on the Nifty Fifty website run by Tom Winnifrith is now 23% on an offer to bid basis. The average holding period is one year. Okay that is only after two and a half years but given the dire performance of the AIM Index in that period it is not bad going is it? And Tom has a new tip out this afternoon, you can access it HERE
Published 1356 days ago
Monitise plc (MONI) has announced that a strategic review has concluded “that the best way of maximising long-term value for all stakeholders is to continue transforming and streamlining the business as an independent company”. With the shares having reacted a current more than 16.5% lower, to 15p, the following reviews…
Published 1358 days ago
Optimal Payments (OPAY) - of Equities First Holdings LLC infamy (see HERE) – has announced a proposed purportedly “transformational and value enhancing” $1.2 billion acquisition of Skrill Group - described as “one of Europe's leading digital payments businesses providing digital wallet solutions and online payment processing capabilities and is one of the largest pre-paid online voucher providers in Europe with its paysafecard brand”. Does this though transform the investment proposition here? …
Published 1371 days ago
Shares in glass fibre insulator Superglass (SPGH) currently trade approaching 20% lower today, at 3.25p, on the back of an announcement that “demand for the company's products remained subdued during the majority of the first half of the current financial year” and that it “expects to post an EBITDA loss of approximately £1.9m in H1” as well as that CEO Alex McLeod is to step down. The company does express “cautious optimism for the remainder of the financial year and beyond”, but is this justified?...
Published 1383 days ago
Despite announcing £1.5 million of contract awards “attributed to the new leadership of our UK/Europe sales team, giving us confidence that similar changes made to the management of our US and Middle East/Africa regions will materially support our international sales expansion”, shares in AIM-listed Digital Barriers (DGB) currently trade 18% lower at 41p today. This is as the company has also announced that losses and revenue for its year to the end of next month will be worse than expectations due to “the timing of two expected significant contract awards”. Will the operational improvements the company emphasises it has recently made see a step-change in performance or will a below-detailed litany of financial destruction continue here?
Published 1429 days ago
There are some who frown on the concept of a 'system’ when used in relation to share investment. It smacks too much of gambling. Racing fans and roulette players use systems. Analysts and other posh people in the City use strategies. Here then are a few investment strategies which have proved to be heartily robust although of course nobody can speak for the future.
Published 1432 days ago
It’s not been a pretty period for the oil price. On Monday (Monday 5 January) ICE Brent Crude Oil fell by a whopping 5.95% to just over 53 dollars a barrel. On Tuesday (Tuesday 6 January) it was down a further 1.05% to 52.50 dollars a barrel. The slide continued yesterday.
Published 1457 days ago
You can bet that Warren Buffet has goals, probably including financial goals.. I have set a financial goal for myself every year since 2011. They are all written on my blog for the world to see, and the end of every year I do a ‘Goal Review’ so there is no hiding place.
Published 1462 days ago
Shares in provider of secure payment products, Eckoh plc (ECK) have recovered to a current more than 45p – to capitalise the company in excess of £100 million – having fallen to below 35p in October. The following updates post recent interim results.
Published 1467 days ago
Following on from my last article, a useful way of investing in shares, especially if you are just getting started, is to participate in your company’s share scheme. These come in a wide variety of shapes and sizes, but the overall message for most that I have researched is that if you intend to stay with the company for years you should probably go for it.
Published 1468 days ago
I received a decent response to my first article on the Great man so I’m going to write another one! Let’s look at how Warren Buffett views work, and how your attitude should be towards it now. After all, for most people doing paid employment will be the main method of funding for purchasing shares. Here’s a quote from the Sage of Omaha. “The truth is, so few people really jump on their jobs, you really will stand out more than you think. You will get noticed if you really go for it.”
Published 1472 days ago
It was nice to see the stockmarket rally somewhat towards the end of the day on Friday. It made me think a lot of what I do now is just save up money to buy more shares. I was tempted to buy some more BP (BP.) shares when they fell to around 409p, and by the end of the day I felt that I have enough to purchase some more of any type of shares. Now obviously I am not Warren Buffet, but I think I try to emulate some of his characteristics - at least more than most people of my age. Let’s look through some of them.
Published 1507 days ago
Would you pay Warren Buffett one pound to manage 5 pence of your money? No? I didn’t think so. Would you pay anyone a quid to manage 5p of your cash (that’s right you break even after he or she has twenty bagged the investment) No? I think we can agree that you would be crazy to do so. No argument there.
Published 1508 days ago
We have just re-released my bestselling book, the 49 Golden Rules of Making Money from Shares. I do not mean I outsell Louise Mensch, just that of my books it has been the biggest winner. Rules 25 deals with director share options, rule 26 with earnings visibility. We have 50 free copies of the book to hand out this month and you can get yours by filling in the form HERE.
Published 1508 days ago
The Tesco (TSCO interim results have proved to be such a large dog’s breakfast of awfulness, that it is hard to know where to begin in attempting to describe and understand the situation.
Published 1521 days ago
Hello Share Gang. Gosh, it’s dispiriting when your shares, which were once doing so well, start to decay in value. This is happening to me at the mo and it can put a damp blanket on your whole life. But we are wrong to let falling shares get us down. Here are a few reasons why.
Published 1522 days ago
Today could be an eventful day! UKIP has gained its first elected MP, and yesterday stockmarkets took a sharp fall around the world (the two are not connected)!
Published 1528 days ago
In certain circumstances share buybacks make sense. Where a company has surplus capital and cannot think of a way of earning an economic return on that capital it is absolutely right that it is returned to shareholders via buybacks. I prefer them to special dividends because one can elect to sell less or no stock or to stay on board with a bigger percentage of the equity. It is down to the individual investor. And it is right that surplus capital should be returned to the company’s owners (shareholders) not simply be hoarded by management.
Published 1528 days ago
Hello Stock Riflers. I guess most share shifters who tune into this fabulous website are short or mid term punters. I'm mostly a momentum trader which means some of my trades are very short indeed. You can't afford to stay with a stock too long when you haven''t done deep research, but are instead relying on the fact that the share is moving upwards now - and could continue to do so for the next few days.
Published 1529 days ago
Benjamin Graham is the man who taught Warren Buffett about investing in shares. His classic book is The Intelligent Investor which is as relevant today as it was when first published in 1952. Let’s get right into the quotes again, we’re now on Chapter One.
Published 1531 days ago
The Intelligent Investor by Benjamin Graham is possibly the most famous investment book of all time. Warren Buffet says “I read the first edition of this book early in 1950, when I was nineteen. I thought then it was by far the best book about investing ever written. I still think it is.”
Published 1538 days ago
My father originally advised me that Sainsbury’s (SBRY) was a good buy at 315p. “In the long term they’re good value at this price.” I did my own research, saw that the PE was low and the yield attractive. I didn’t have any shares in the supermarket sector and never had, so it was good from a ‘diversity’ view I guess. I bought the share.
Published 1545 days ago
Mobile money technology platforms and services company Monitise (MONI) has announced results for its year ended 30th June 2014 and a “confident outlook”. Is this though still discounted in a share price which has fallen from 80p earlier this year to a current 43.5p?
Published 1548 days ago
Asian Citrus (ACHL) appears to be one of the better Chinese stocks on the AIM Casino but although it now trades at a steep discount to stated net cash and a vast discount to net assets it just cannot qualify as a value investment and you’d be mad to touch it with a bargepole. In fact its a sell. Here’s why.
Published 1564 days ago
Monitise (MONI) has announced another big name collaboration which has the Bulletin Board and twitter morons all excited. Natch there are no financials. Monitise only admits then when it says – as it does every few months – “uh, oh, another small delay in the move to profitability but do not worry revenues are going up.” My twitter moron of the week Share Tipster (@2years2go) reckons that concepts like cashflow, DCF etc are all so old hat and that I just do not get the new paradigm. Where to start.
Published 1569 days ago
Since the current Bull Run started in early-2009, the stock market has tripled in value, barely experiencing any pullbacks aside from brief corrections in 2010 and 2011, when the Global Financial Crisis was still in full swing.
Published 1582 days ago
Hello Share Fans: As so many excellent writers on here disagree with me that shares will soon rise, I feel duty bound to re-state the case for optimism. Don't believe half of what you read in the Press about shares. If you do you'll make enough wrong decisions to stop you making any real money at the golden game.
Published 1594 days ago
Never buy Chinese stocks listed in London is a golden rule of mine. But I broke it last month tipping Hutchison China MediTech (HCM) at an 870p offer. They are now 960p bid after interims yesterday. So why break a golden rule and is there more to come for the shares?
Published 1603 days ago
Hello Share Bunnies: Like the world's richest man, Warren Buffett, I believe that the success of my longer-term investments relies on a share's good value. This kind of approach is known, funnily enough, as value investing. It's the only kind of speculation that the great man ever does. Or at least that's what I glean from reading a few of his speeches.