Forum Topics Some Useful Resources
Slomo
Added a month ago

Valuation Podcast - Stephen Penman's Masterclass on Intrinsic Value, Earnings Quality, Cost of Capital, Quant Factors, and Avoiding Self-Deception.

https://www.latticework.com/p/stephen-penmans-masterclass-on-intrinsic

Penman is a top Valuation academic – similar but different to Aswath Damodaran. His textbooks are used in Master of Finance Valuation subjects.

Damodaran (from NYU) is more finance based and views accounting with some healthy scepticism. Penman (from Columbia) is more accounting based (although advocates making adjustments where necessary) and sees valuations with a Cashflow focus as problematic – the more you invest, the worse your FCF, etc.

Both are aligned to (and mates with) Michael Mauboussin and advocate for his Reverse DCF methodology, which Penman references directly here.

Penman although not as smooth a communicator, originally from Queensland, makes up for this with some effing and blinding where necessary – refreshing given the somewhat stuffy material.

It’s all kept on track and focused on investors by interviewed John Mihaljevic.

Worth a listen for those looking for an accounting based view of valuation.

For anyone looking to go deeper, check out his new book “Financial Statement Analysis for Value Investing” which he was promoting here.

I’ve not read it yet but CFA review here - https://blogs.cfainstitute.org/investor/2025/06/11/book-review-financial-statement-analysis-for-value-investing/

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Slomo
Added 2 months ago

Free Online Weekly Value Investing Seminar - starts this Friday

https://www.linkedin.com/pulse/im-opening-classroom-invitation-my-weekly-value-gary-mishuris-cfa-ltu4e/

There's been some good Q&A on valuation here and @Strawman even did a video on it a little while back.

For those looking to go a bit deeper, this looks like it could provide some good structure - all at a price point guaranteed to get old school value investors excited.

Enjoy

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Slomo
Added 7 months ago

I’ve been reviewing my ASX investing subscriptions to streamline where I can (keeping Strawman).

A Rich Life (Claude Walker) – I’ve been a subscriber for many years, best ASX small cap research out there. They have a promo running here https://arichlife.com.au/an-invitation/ not sure for how long though.

The Intelligent Investor – Have been on this one for a long time too, some great picks by thoughtful analysts. Larger cap, some international now too. Free trial available for this one - https://www.intelligentinvestor.com.au/.

Google Studio (AI) – Not strictly an investing resource but that’s what I use it for (Gemini and NotebookLM both included, both excellent and always adding new capabilities). I'm trying to use AI as much as possible before it replaces me and Google is my only current paid subscription - https://one.google.com/about/ai-premium/. Free version available (freemium model).

These are my top 4 (incl Strawman).

Keen to hear about any others that members rate, or are these the best ASX resources out there?

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Lewis
Added 7 months ago

Low hanging fruit but Sharesight is amazing, I can see my whole portfolio in one place, benchmark all of my investments against an index, make sure everything is on track and focus on long term performance. It's the only other subscription I have outside of SM and I happily pay it each year.


Also, for research Google Finance is where I spend the most time. Not paid but I find it intuitive and it's my go to for initially getting my head around the finances of a new idea. Also great for making watchlists.


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thunderhead
Added 7 months ago

I have been paying for ShareSight for a number of years too. It's got its quirks, and is somewhat pricey,but I know of no better tool that makes tracking an ordinary retail investor's portfolio and tax reporting more convenient.

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lowway
Added 7 months ago

Thanks for the prompt @Slomo, I'd have to agree with @Lewis & @thunderhead regarding ShareSight (and google finance to some degree). I'm only in my first full year on ShareSight and with 4 x portfolios and so many different and available form factors (PC, iPad, android & iOS versions) and most importantly cloud based, I feel like it was a good decision. I was previously paying more annually for a single PC based solution by Maus SW called StockEasy, which did do all of my tax reporting, etc, but was a fully manual input and only a single instance on a single PC (so highly unworkable unless I went to my home office).

A couple of other tools I use and really enjoy (other than Strawman Premium, which has been invaluable) include:

  1. Commsec. So even though I use Selfwealth as my Chess sponsor and do all trades (irrespective of value) for $9.50, I still prefer Commsec for their tools and better mobile app. So I simply replicate all of my portfolios as issuer sponsored shares in my Commsec accounts (that I left running without any holdings) and input my own qty and buy prices to track overall portfolio performance. Then you get real-time pricing and financial info as well on all of the ASX.
  2. Motley Fool Podcast (machine) with our fearless leader @Strawman and Scott Phillips on Fridays and Sundays. Always enjoyable and always some snippet gained by listening to these two have some serious and not so serious banter backwards and forth!!


13
Mujo
Added 2 years ago

Following Charlie Munger's passing and what would've been his 100th birthday yesterday (same date as mine as it happens) see his speech on the art of stockpicking for those that haven't read it before - Charlie Munger : Art of Stock Picking (grahamanddoddsville.net)

Well worth the read - funny how he praises Welch at GE and how that ended up but some very good nuggets in there none the less.

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