Rule #1
by Phil Town
Town's simplified value method: the four Ms (meaning, moat, management, margin of safety), the 'big five' numbers, and a sticker-price calculation, plus technical signals for timing that purists dislike. It is accessible and the four Ms are a sound checklist.
Read it if…
you want a value-investing checklist you can apply in an evening.
Skip it if…
you dislike technical timing tools mixed with fundamentals.
Three things you will actually use
- Rule one: do not lose money.
- Meaning, moat, management, margin of safety.
- Buy a dollar for fifty cents and wait.
Do this first
Run the four Ms on one company and see whether it survives the first two.
Our verdict
A value checklist for an evening.
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