Monday, November 21, 2005

Blog of the Week: Phil Town on Investing

HOW DO YOU REALLY KNOW YOU KNOW A COMPANY?

Here's an exchange I had with Greg, who's been trying to find something to buy. He understands how to run the numbers, but he's stumbling on Meaning and Moat. Read on.

Phil,

Dell does seem cheap, but no one seems to be taking the bait. And I don't feel like I KNOW the business. In fact, I am not sure how to really know any business.

I have read several entries on your blog where you say that you agree with the research someone has presented and often let them know something that they didn't see, but then you tell them that if you only knew the company you might invest in them too, but you don't so you won't.

So how do I know...

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