Geoff Gannon July 5, 2007

Interesting Items for Thursday, July 5th, 2007

Rick of Value Discipline (one of The Eight Best Investing Blogs) has a good post on what goes into value creation. It’s an especially good post for new investors or anyone who isn’t intimately familiar with all of a company’s financial statements and how they interact. You don’t hear a lot about working capital management for instance and you almost never hear a serious discussion of cash flow that isn’t centered around the EBITDA multiples various acquisitions were (or might be) made at. The post is actually an excerpt from a piece Rick wrote for Market Thoughts.

Here’s a long video of “safe and cheap” value investor Marty Whitman of Third Avenue Value Fund. The link is through Value Investing News which is currently undergoing a face lift of sorts. That site is excellent as always. Save the video for when you have the time to enjoy it – the run time is about an hour. There’s a lot of great stuff in there.

Finally, here’s an interview with the CEO of Tesco. The link is through Shai Dardashti’s Reflections on Value Investing.