Book Highlight: The Sleuth Investor

By: Avner Mandelman (2007)

Lots of foolish money in the market and it is not efficient.
It fails to take physical evidence that is public or that can be sleuthed.
Sleuthing a company is a function of 3 Ps
People (customer, suppliers, internal employees) (Humans)
All will have lots to say if you know how to talk to them
Products (function, who uses, why, etc)
Plant and periphery (location, production, environment)

The ideal company serves a 3 in one where the user (vetter), buyer (decision maker) and check writter is the same person. Ask the question is the customer worth it?

Market Index = mediocraty. Public info can uncover an edge but back it up with sleuthing.

Invest with information that is TRUE, Important, and Exclusive.

Stock selection/analysis should be investigations based
Use star Map to uncover relationship and see the whole picture

Profitable Stocks can fall into Cheapies (Buffet), Goodies (Munger - lasting franchises), Rockets (Momentum, Growth), and Tradies (special situations, speculations).
The First 2 types are most profitable.

Canadian Info Sources
www.Sedar.com
www.sedi.ca