Transcript Law for Business

Stock Market Analysis and
Personal Finance
Mr. Bernstein
Pursuing an Investment Idea:
An Example
March 13, 2015
Stock Market Analysis
& Personal Finance
Mr. Bernstein
Sources of ideas
Research reports
Blogs / Websites
Radio, TV or internet videos
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Stock Market Analysis
& Personal Finance
Mr. Bernstein
Example: American Tower (ticker AMT)
Discussed on Bloomberg radio interview:
http://www.bloomberg/radio/podcast/taking-stock/ ; “Hennessy's
Macauley a `Student of Excellent Businesses”, April 25, 2013
Checked Hennessy website to check that investment style and type
of stock are a match - examples:
Fundamental, Technical or Quantitative Investors?
Small Cap or Large Cap?
Income Stock or Cyclical Stock?
US or International markets?
Visited Company website to confirm business basics
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Stock Market Analysis
& Personal Finance
Mr. Bernstein
Example: American Tower (ticker AMT)
Technical Analysis examples
Trend lines
50, 200 day Moving Averages
Fibanocci numbers
RSI (Relative Strength Index)
Performance vs. benchmark
May guide timing
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Stock Market Analysis
& Personal Finance
Mr. Bernstein
Example: American Tower (ticker AMT)
Blog/research search for reasons not to invest
Confirmed growth potential of business franchise
Confirmed “moat” strength
Is there a catalyst to ignite stock performance
REIT in nontraditional REIT businesses such as
apartments, offices or shopping malls are not
always recognized quickly by Mr. Market
Recent earnings report – negative surprises linger in
stock price
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Stock Market Analysis
& Personal Finance
Mr. Bernstein
Example: American Tower (ticker AMT)
If the idea has survived this far:
Will it reduce portfolio risk?
Is it similar to other holdings?
Do they have securities other than common
stock that may fit portfolio better?
Determines size of position or aggressiveness
about acquiring position
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