F Wall Street: Joe Ponzio’s No-Nonsense Approach to Value Investing for the Rest of Us
“The success of a business hinges entirely on its ability to generate cash. If a business cannot generate enough cash to grow, or at least sustain its operations, it has to save its behind by borrowing money, selling more stock, or shedding assets—none of which are good for investors.”Joel Ponzio
"The truth is that your age and the size of your portfolio have absolutely no bearing on whether you should be investing in stocks, bonds, mutual funds, CDs, or any other investment opportunity. The decision to invest in stocks — or mutual funds that invest in stocks — should be based on your understanding of stocks, the stock market, and risk.Joel Ponzio
"It is impossible to track the value of your business by watching the stock price. Price is a tool that is to be used to take advantage of opportunities in the stock market, not a guide as to how well your business is performing. Over the course of many decades, price can be used as an indicator of how a business has grown or fallen. Over the course of a few days, weeks, months, or quarters, price changes reflect little more than the will of speculators and the emotion of the markets."Joel Ponzio
Motivations to Read
After learning about value investing I wanted to get more perspectives on it and was looking for some non-academy and more casual-toned resources to learn more about it. I saw this book come up in a number of suggestions and liked that it emphasized owner earnings and other business fundamentals.
3 Reasons to Read
- Invest with a Value investing mindset
- You want to learn how to buy and sell stocks on your own
- Learn how to read financial statements
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