Free Stock Analysis Excel

How Not to Bet

Jeanne was in her late 80s. Her husband had already passed away twenty years back. Her only daughter, Yvonne, had died much earlier at a relatively young age. Yvonne’s son, Frédéric, was raised by Jeanne herself. Unfortunately, like his mother, Frédéric too had a premature demise when he was killed in an automobile accident at a young age of 36.

All her life Jeanne had lived in Arles, France and had no wish to leave the place in her final years. However, living alone with no source of income, it was hard to support herself.

That’s when a forty-seven-year-old lawyer named André-François Raffray offered a deal to the old lady.

At age ninety and with no heirs, Jeanne agreed to sell her apartment to Raffray for the price of a low monthly subsistence payment of 2,500 francs. The contract said that the payments would stop upon her death, at which point she would be carried out and Raffray could move in.

Jeanne would thus have an ongoing source of cash to live on in her last years, and the lawyer would get an apartment cheaply, with no money down, in return for accepting the uncertainty as to when he would take possession.

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What You Need to Succeed in Investing (Hint: It’s Not Genius Brain)

“Hey Vishal, have you read about how Albert Einstein lost so much money in the stock market?” asked my friend Ravi as we met for dinner over the weekend.

“Yes Ravi,” I said. “In fact, he lost most of his winnings from the 1921 Nobel Prize in the stock market crash of 1929.”

“Wow!” Ravi exclaimed. “And we are talking about one of the genius minds to have ever walked this planet.

“Right Ravi. And I’m sure you’ve also heard about Mr. Newton, who was wiped out while chasing the stock market bubble in 18th century England.”

“Yes Vishal, you only told me about Mr. Newton’s misdoings when we met a few months back.”

“Sometimes I fail to understand,” Ravi continued, “how men with such high levels of intelligence fail at such petty things as the stock market, even when you hear of investment stories about individuals who’ve made fortunes because of exceptional insights or sheer genius!”

“Because, my dear friend, the best rewards in investing don’t generally go to investors with the smartest brains but to those with the strongest stomachs.”

“Stomach? Are you serious?”

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5 Lessons on Life & Investing from Guy Spier’s Education of a Value Investor

Once upon a time, there was a young man who got his dream job in the financial services industry, thought he could make it big one day and worked hard at it, then got disillusioned and disgusted by what he saw around, and finally quit to live a life of greater peace and fulfillment, while […]

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7 Secrets of Warren Buffett’s Success (as per Charlie Munger)

In the 2008 shareholder meeting of Wesco Financial, a shareholder asked Charlie Munger to describe what caused Warren Buffett’s success. “His success…is a lollapalooza,” Munger replied – a confluence of factors moving in the same direction. Munger outlined the following seven key factors which combined together to cause Buffett’s success – Mental aptitude (Being seriously […]

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My Interview with Farnam Street’s Shane Parrish

Shane Parrish is the curator behind Farnam Street, a website aimed at mastering the best of what other people have already figured out. Shane is the founding partner of Syrus Partners, a holding company that acquires and operates businesses in North America. Before Syrus, Shane worked as an executive in the Canadian government, where he […]

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A Guide to Getting Good at Dealing with Stock Market Chaos

Imagine it’s 2020. Some genius political scientist in collaboration with a computer wizard has developed a flawless algorithm that can be marketed as a revolutionary predictor. These geniuses offer their services to the United States President Donald Trump. In return for a generous down payment, they tell Mr. Trump that according to their forecasts, a […]

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Of Bad Businesses, Unethical Managers, and Stock Market Volatility

“I’m fast losing hope in this world!” my friend Ravi exclaimed as we started talking over desserts after our last weekend lunch. “So soon?” I asked him. “What happened?” “Are you reading newspapers these days Vishal? Or are you still abstaining from them?” “I still don’t read newspapers, Ravi. But tell me what’s the news […]

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Process, Practice, Perseverance

Have you ever wondered why a doctor’s clients are called ‘patients’? Even a more interesting question, why do doctors call their work as ‘practice’? Well, one of the reasons is that you can’t become a good doctor without practicing what you learn in textbooks. For that matter, any work done under any profession is nothing […]

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