Leave technology to the venture capitalists and the speculators Dont stockpile

Leave technology to the venture capitalists and the

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Leave technology to the venture capitalists and the speculators. Don’t stockpile technology without being an expert, and even then, watch out. Using Search Parameters Online Once you know what not to look for, you still might have problems finding what you are looking for, particularly if you’re not big on any particular industry. In Chapter 3 , I took you step by step through the process of searching for potential candidates within a particular industry. I showed you how to navigate Yahoo!’s nine Sectors, and we honed in on apparel based on my own 3 Circles, and then we went further and looked at Ralph Lauren in particular. Now I’m going to show you an even better way to find your wonderful business: A stock search engine. A stock search engine is a tool that filters stocks based on specific parameters. There are about 200 industries, 6,500 sizable U.S. public companies, and about 700 different facts for each company. A good stock search engine stores and indexes all those facts. It’s a revolutionary time-saving device for finding a great business to buy in an industry you really like and understand. To get an idea of how amazing this technology is, think about how you’d have gotten this information only ten years ago. We could still search through all 6,500 actively traded companies in America. Heck yes we could. It just took a little longer. First, you’d write to all 6,500 companies for their annual report and SEC 10-Q filings, which are those quarterly reports required by the Securities and Exchange Commission. Assuming you could do about 30 an hour, it would only take a month to get the request letters out and only cost about $2,000 for envelopes and stamps, not to mention a 12-step recovery program from licking glue off of 300 stamps a day. Within two weeks the first of the 8 × 12 manila
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envelopes would come in the mail and it’d be time to start reading. Say it takes half an hour to browse an annual report and calculate Return on Capital figures, Earnings Growth, and Debt; within only 3,000 hours you’ve gone through them all. If you worked hard you could do that job in a year. By which time you’d have to start over because the new annual report was in your mailbox. Today we do it just a little differently. Go to the MSN Money home page. On the left menu under Investing, find Stock Research and click on it. On the Stock Research page, look at the left menu for Find Stocks. Below that click on Stock Screener and then Custom Search. On that page it says Supercharge Your Search. Click on that. You’ll be directed into the Deluxe Search Tools and they will load automatically. (Note to Mac users: I’m writing this on a MacBook Pro. If I go on MSN Money on my Mac operating system using Safari or Firefox I don’t see the Supercharge option. If you can’t find it either, crank up Boot Camp or Virtual Machine or Parallels and start up Windows. It will work there. Make sure you’ve got the latest version of Internet Explorer, which is the browser that works best with MSN Money.) There are lots of stock screeners out there today, but this one works very well and has the added merit of being free.
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  • Spring '20
  • Warren Buffett

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