O'Reilly logo

Brandes on Value: The Independent Investor by Charles Brandes

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER 15

ARE STOCKS AN INTELLIGENT INVESTMENT?

When you buy a share of stock, it’s more than just a piece of paper; it’s a piece of the business.

—Charles Brandes, in an interview with Research magazine, May 1988

In the first three sections, this book highlighted the basics and the inner workings of value investing. By inner workings, I mean looking carefully inside a company, especially its balance sheet and income statement, to attach an intrinsic value to it. Value investors have a commitment to equities, but the value proposition includes the world of bonds, too. In the next two chapters, we’ll examine both asset classes and show how—with a value investing mindset—each has an important role in an effective long-term strategy.

The question ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required