Port Wren Capital, LLC
Finding Value InvestmentsSM
Overview of Our Service
We help retail investors pick individual value stocks for above average gains over a multi-year horizon.
Innovative Investment Research - For Higher Returns
With your paid subscription, you will receive timely & practical independent value investing research as it pertains to long-term value opportunities. All accessible from your own webpage that displays the following: research date, research type (Buy, Update & Sell), ticker symbol, buy price, market price, unrealized gain/loss, intrinsic value estimates, our positions, sell price and realized gain/loss on sell, as shown below. Additionally, when new research (buy, update and sell) are all made available, you receive Activity Alerts to keep you up to date directly to your E-Mail. To learn more about our Value stocks - equity research subscription service.
The number of reports will vary based on the number of worthy situations discovered. And on a number of other variables including but not limited to: the market, the weighted risk and rewards, fundamental research, trends, events, type of situation, margin of safety, financial condition of the company, and other related variables. Quality versus quantity is always the better path. To quote Warren Buffett, "The stock market is a no-called-strike game. You don’t have to swing at everything — you can wait for your pitch. The problem when you’re a money manager is that your fans keep yelling, "Swing, you bum!"
We have beaten the S&P500, DJIA & NASDAQ benchmarks since we started over 5 years ago on our investments. Our objective is to increase wealth, beat inflation, not necessarily beat the benchmarks every year. Our timeframe is more of a multi-year horizon. Go to our Stock market research - performance record for more details about investing in stocks with above average returns.
Value Investing Still Delivers after 90 Years
We discover opportunities using Value Investing strategies. Value investing is one of the best known stock-picking strategies. In 1928, Benjamin Graham and David Dodd, who taught finance at Columbia University, laid out what most consider to be the foundation of what is now referred to as value investing. The concept is actually very simple: find companies trading below their intrinsic value, see graphic below. The value investor looks for stocks with strong fundamentals, that includes: earnings, dividends, book value, cash flow, P/E and other variables, that are selling in the market place at a discount price, given their fundamentals. This approach seeks companies that seem to be undervalued by the market and therefore have the potential to increase when the market corrects its error in valuation. Young Warren Buffett studied under Benjamin Graham and worked for his small investment firm, Graham Newman, from 1954 to 1956. To put it another way, as Warren Buffett says, "Long ago, Ben Graham taught me that Price is what you pay; value is what you get. Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down."
Port Wren Capital, LLC is a value investing oriented website. We believe that value investing is a winning strategy for the long-term. We do not encourage short-term trading. Value investing is an investment strategy where stocks are selected that trade for less their intrinsic value. Value investors actively seek stocks they believe the market has undervalued. The stock market often misprices stocks for various reasons. Value investors use fundamental analysis to estimate the intrinsic value, then buys the stock when it is out of favor, trading below their estimates which gives them a margin of safety. When the stock price reaches the estimated intrinsic value consider selling. This process typically takes a few years for the market to correctly value the stock. Therefore, patience is a must. The objective is not to determine the bottom or the top price. Our objective is to increase wealth, not necessarily beat the benchmarks every year. Our timeframe is more of a multi-year horizon. In Warren Buffett's Partnership Letter, on 1/18/1963 item number 5, he set investors expectations to focus on relative long-term performance. "While I much prefer a five-year test, I feel three years is an absolute minimum for judging performance." Refer to the graphic below.
Surely you have heard the expression “swimming against the tide”, well basically contrarian investing is the same thing. It is an investment strategy that is characterized by buying and selling stocks in contrast to the prevailing sentiment of the time. A contrarian thinks that certain crowd behavior in the stock market can lead to large scale mispricing of the stocks. John Templeton, a contrarian value investor, said, "If you want to have better performance than the crowd, you must do things differently from the crowd." As shown by the picture below, most investors buy at Euphoria, the point of maximum risk, when prices are the highest and sell at Despondency, the point of maximum financial opportunity, when prices are the lowest. However, to get above average returns, they should do just the opposite. Contrarian investment opportunities can always be found in both a bear and a bull market.
Investment Strategies and the Benefits
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Investment Research ExpertsSM
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