Welcome to Compound with Kevin!
“Opportunity comes to the prepared mind”. And for a value investor it translates into being a constant learning machine and learn about as many businesses as possible. By doing so, over time, you will be able to recognize patterns, good businesses, management practices and much more. This will help you build a circle of competence and a strong conviction to seize the opportunity when it arrives.
And therefore, in 2024, my goal is to read through several annual reports (at least 2 a week) and learn about various businesses & industries. And for the business models that I understand, I will also dive deeper and look into its business model, KPIs, financials, management and valuations. I will share those detailed reports here. Feel free to subscribe to this website or bookmark this page if you want to follow my research.
List of companies that I will read about in 2024:
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Criteria used to come up with the watchlist:
ROIC over 9% annualized in the last 5 years and Debt/Equity lower than 52% .
Why did I use ROIC over 9% and Debt/Equity lower than 52% ?
Although these numbers (ROIC of 9& D/E of 52) are some what arbitrary, the purpose was to get a list of companies that are not too much in debt and are able to achieve higher return than their cost of capital in the long run.
For what companies will I write the research report?
Simple criteria. I will write detailed reports only on the companies that I can understand.
Thanks!
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