For all the narratives around investing and making money, those who have survived the investment cycles for decades and earned above average returns have typically adhered to sound disciplines.
This means valuing companies correctly, not taking shortcuts, not being swayed by management ebullience, and digging into the financial statements is key to optimising returns.
In this episode, Steve Clapham, veteran analyst, investor and creator of Behind the Balance Sheet explains why effective investment training has diminished, and how reading accounts is more important than ever in an era of waning cheap money.
Steve shares his candid thoughts on the CFA and explains why the cash flow statements are so vital.
He then explains why opportunities on the buy-side are increasingly plentiful, before covering a few case studies of 'creative accounting' (including two recent high profile fraud scandals: Patisserie Valerie and Wirecard).
FURTHER RESOURCES:
To help improve your equity analysis and access world-class training videos, consider signing up to Steve’s Analyst Academy Course. As a festive thank you, he’s offering Money Maze Podcast listeners a 10% discount on the acclaimed course. At checkout, add the code ‘MMP10’ to enjoy the Black Friday discount. Offer ends on 15th December 2023. Learn more and sign up here: courses.behindthebalancesheet...
Steve also runs the Behind the Balance Sheet Newsletter. It aims to expose as many people as possible to equity investing, sharing analysis to improve your investing skills, backed by his 25+ year institutional career. Steve is kindly also offering listeners a 30% discount on the newsletter via this link: behindthebalancesheet.substac...
TOPICS:
00:00:00 - Introduction
00:00:42 - Guest Background
00:03:14 - The Behind the Balance Sheet Mission
00:04:52 - Where do we go for financial literacy/ Becoming financially Literate
00:06:52 - The Pros and Cons of the CFA
00:10:47 - The Buy Side Systemic Dynamic shift
00:13:31 - Interest in Interest
00:15:44 - Corporate Collapses - Patisserie Valerie and Wirecard
00:23:31 - Market Fragility in a Debt Crisis
00:25:11 - Identifying the Winner and Losers - The Behind the Balance Sheet Course
00:33:00 - Closing Questions
SPONSORS:
- Schroders is a global investment and wealth manager, with a purpose to provide excellent investment performance to clients, through active investment management. Find out more: www.schroders.com/en/global/i...
- LiveTrade, from Bordeaux Index, is an innovative new platform which allows you to instantly buy and sell - or place bids and offers on - key wines from around the world. Find out more: bordeauxindex.com/livetrade
- Bremont is an award winning British company that produces beautifully engineered chronometers, designed to appeal to those who share the passion and appreciation of the innovation and mastery behind a beautiful mechanical wristwatch. Find out more: www.bremont.com/
- IFM Investors are a global institutional asset manager whose purpose is to invest, protect and grow the long term retirement savings of working people. They manage investments across infrastructure, debt, listed equities and private equity assets. Find out more: ifminvestors.com/en-gb/
STAY UP TO DATE
✅ Newsletter: www.moneymazepodcast.com/subs...
✅ LinkedIn: / the-money-maze-podcast
✅ X/Twitter: / podcast_maze
LISTEN:
🎧 Apple Podcasts: podcasts.apple.com/gb/podcast...
🎧 Spotify: open.spotify.com/show/0uT0iw8...
DISCLAIMER
All content on the Money Maze Podcast is for your general information and use only and is not intended to address your particular requirements. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. Guests and presenters may have positions in any of the investments discussed.
31 май 2024
