In today’s note, I am sharing the slides from the presentation I made to the London Value Investing Club on 16 November 2022. I also share my thoughts on how worried we should be about the current macro issues. Having attended a few events organised for and by value investors, I have noticed that the macroeconomic outlook, problems around inflation, the health of consumer demand, interest rates, energy and other issues dominate the discussion. I want to make a few vital points that I believe can help investors achieve better results. If you are only interested in specific stock ideas, scroll down to check the link to the most recent presentation on VW Group.
‘Behind every stock is a company. Find out what it’s doing.’
“Bull markets are born on pessimism, grow on scepticism, mature on optimism, and die on euphoria.”
“Be fearful when others are greedy, and greedy when others are fearful.”