Youtube comments of (@HamishHodder).

  1. This video took an extra week because I got food poisoning at McDonalds
    805
  2. link to the article is in the description :)
    283
  3. Here in the comment section to fight the bots 😡😤
    266
  4. im no expert, just a guy making videos about things I find interesting 🫡
    152
  5. Just kidding, had some personal matters to attend to. Back to weekly videos again :)
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  6. 😂 amazing
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  7. here before the bots ruin the comment section 🥲
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  8. And for the 0.001% of people who are Pink Floyd fanatics: yes that is an original UK first press Dark Side of the Moon LP
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  9. thanks for sharing! There's a long, very complicated history of India and that particular part wasn't an area I went too deep into (because it wasn't the focus of my video), but I wanted to mention it as its obviously a meaningful point in the timeline. I'll be sure to go deeper on it another time. Thank you for watching and commenting!
    64
  10. the video is not advice, and in the second half of the video I talk about what made Chipotle's turnaround unique from most restaurants that have been through a food safety scandal
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  11. Graham "Unbox Therapy" Stephan
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  12. that guy at 6:41 should make youtube videos
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  13. My AI Buffett used in the intro needs some work... 😆
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  14. What an honour Phil! Thanks so much for watching, myself and Brandon would love to have you as a guest on the Young Investors Podcast one day😎
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  15. Hey I have the same t-shirt as that guy 11:13
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  16. ★ Limited Time Deal on TIKR Terminal ★ ▶︎ https://www.hamishhodder.com/tikr Use code 'hamish15' at checkout for an additional 15% Off.
    47
  17. Having an actionable list of daily goals is definitely one that helps me...also coffee
    46
  18. Learn great ideas faster with Shortform - start your free trial & get 20% off ▶︎ https://shortform.com/hamish
    43
  19. I'm back! Sorry for not posting for a couple of weeks, I got struck down with a pretty nasty sickness that I am grateful is now behind me. On the brighter side, I have a lot of video ideas that I will be putting into action over the remainder of the year so thank you for your patience! An even bigger thank you to the community members @ https://www.hamishhodder.com/community Having your support took a lot of pressure off me and I am so very appreciative of each and everyone of you 😊 - Hamish
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  20. 😂😅
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  21. I just spent 4 hours making a parody of the Free Willy movie poster as a thumbnail for this video, with the DeepSeek Whale logo jumping over Sam Altman, and I don't think anyone's ever going to see it. That's one Saturday night I'll never get back... 😁
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  22. holyy the bots came with some fire power today 😅
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  23. how many times did I say SiriusXM in this video? 😅
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  24. btw, I'm getting a bot comment every 30 seconds and that's with comment moderation settings on 'strict' and with a ton of banned words. really great job YouTube 👍
    28
  25. Huge thanks to Matt for taking us through his strategies while in Austin!
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  26. ​@CompleteHealthControl THANK YOU 🙏
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  27. Loving your content man, why have I not been watching you!?!
    25
  28. True, corporate tax rate rise is far less likely under Trump but seemed like a reasonable time to sell given the likelihood of higher corp taxes over the next decade is pretty high.
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  29. Brandon replaced me on the podcast with AI months ago and no one noticed 😢
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  30. Correct. I only mentioned it because Goldman claims that the Trump administration views the VAT as a tariff.
    23
  31. I will NEVER ask for money over WhatsApp. Anyone can create a YouTube channel with my name and picture so please do not fall for these scammers. Thank you to everyone who reports these scam comments ❤️ Unfortunately they pop up too fast for me to delete them all myself
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  32. Join the 90 million MyHeritage users and discover your family origins with a 14 day free trial: https://bit.ly/HamishHodder2_MH
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  33. just a figure of speech, I agree :)
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  34. Shoutout to my new market research intern 1:08
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  35. Had such a good time mate, can't wait to do it all again next week!
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  36. Trying to predict where the market will move in the short term is a fools game. Put a distinct value on your investments and go from there. Decrease your positions if they are priced significantly over their value and increase your positions if they are priced significantly under their valuations.
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  37. Go to https://surfshark.com/hodder for 4 extra months of Surfshark.
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  38. because its interesting to me and alot of people :))
    17
  39. Check out the full interview here: https://youtu.be/Pp4CvjNw-9Y
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  40. ​ @Mr.Bendoverr  😆
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  41. Pabrai has said that you shouldn't NEED a spreadsheet, meaning the way most modelling is done in finance isn't useful because the price of the business should be so far lower than it's value that it's obvious. As far as I can tell he wouldn't be in favour of handicapping yourself by not using the technology available to you to ensure your mathematics is correct. Munger saying he never saw Buffett do a DCF doesn't mean he wasn't doing it in his head. A DCF (whether done in his head or by hand) would have certainly been necessary for many of his most successful investments (i.e KO was trading 12-15X earnings when he bought it)
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  42. "What's up you guys, it's Graham here, due to the recent disruptions in the California housing market I am now posting exclusively stock market related content" 😂😂 Just kidding...but seriously people stay away from new companies that haven't proven their business model over the long term.
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  43. Shortform is my favorite way to learn great ideas faster - start your free trial & get 20% off ▶︎ https://shortform.com/hamish
    15
  44. Corporate Travel stock up 17% today on news of a potentially successful Pfizer Covid Vaccine. How has this news affected your investments?
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  45. Churn Churn Churn. I'm 20 and I'm sitting on a 772!
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  46. I recorded this video towards the beginning of December but had some issues with my editing software which delayed the release. Here are my up to date results for those who are interested: As of December 28th 2019: Capital Gain: 24.35% Dividends: 2.97% Currency Gain: 0.07% Total Return YTD: 27.39% US Market YTD: 33.28% AUS Market YTD: 25.75% ALSO, huge thanks to Tiger Hongmung for helping with the video editing. If you are interested in video editing and animations, check out his channel here: https://www.youtube.com/user/9999iiiioooo
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  47. **slight correction. The Stock market has increased 279 times in value since 1950, not 1957. Since '57, it's increased 125 fold.
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  48. 😂😂
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  49. Here it is, 9 months ago :)) https://www.youtube.com/watch?v=ugNgLOoyYT4&t=436s
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  50. Quick message to those requesting access on the spreadsheet: You do NOT need to request access and wait to be accepted. You need to make a copy of the template first by clicking File, then Make A Copy. On the first page of the spreadsheet I link a video that shows you how to do it if you are still having trouble.
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  51. Go to https://www.piavpn.com/Hamish to get 83% off Private Internet Access with 4 months free!
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  52. I forget to lock my doors one time 😡
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  53. Very well explained! I look at the 10-2 bond spread occasionally to see if it is becoming inverted, which is essentially the same as watching the yield curve flatten.
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  54. thanks for the feedback!
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  55. 😂😂​ @johnj4094 
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  56. sadly yes
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  57. 😂😂
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  58. That dinosaur skull is badass Graham where'd you get it?
    11
  59. Thanks Morning Brew for my daily news briefing - sign up for free here https://morningbrewdaily.com/hamish
    11
  60. Happy New Year! Back to weekly videos now :) The Howard Marks memo is linked in the description if you want to read it yourself.
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  61. For those who have not watched any of my other videos, here is the video I made 9 months ago discussing why I'm mostly sitting in cash for the exact same reasons I discuss in this video: https://www.youtube.com/watch?v=ugNgLOoyYT4&t=436s
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  62. you havent lost anything if you dont sell
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  63. here before Sony yoinks my ad revenue for using a 10 second clip
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  64. 😂 I'm gonna spend more time fighting bots so you can go back to skimming my videos 😉
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  65. thank you Ash!
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  66. yep! I certainly wouldnt use it as a part of an investing strategy
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  67. No he got started on Wall Street Bets
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  68. Man, these crypto/forex/get rich quick scam comments are getting really bad. If you see a comment that is encouraging people to ring a number or to contact them on WhatsApp, then please report the comment!
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  69. I still have what is now about 2% of my portfolio in BABA (smaller now as BABA has declined while other parts of my portfolio have increased). What I should have said was 'While I don't have any meaningful investments in China...' :)
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  70. Join the 90 million users and discover your family origins with a 14 day free trial: https://bit.ly/HamishHodder2_MH
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  71. Thanks! Certainly competition is increasing but assuming you trust the founder (which you might not haha) then engagement AND retention on the platform has increased, not decreased after competitors entered the market
    9
  72. Very difficult to measure but there's a few principles you can focus on to reduce some risk (managers with high stock ownership, history at the company, good compensation package etc)
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  73. I'll write that down, expect it in the next couple weeks!
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  74. I dont predict recessions, but its a topic lots of people are interested in at the moment. Even though you cant use the yield curve or any of these 'indicators' for investing, I enjoy exploring them!
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  75. I remember watching Graham when he had a few thousand subscribers and wondering how big this Finance niche on YouTube could get... I never would have imagined a real estate channel achieving what you have Graham.
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  76. Thanks Morning Brew for my daily news briefing - sign up for free here https://morningbrewdaily.com/hamish
    8
  77. How do you know there will be more blood? You don't, and that is the point Buffett makes in this interview
    8
  78. fugayzi, fugazi. It's a whazy. It's a woozie
    8
  79. If the stock price goes down for the next 3 years I would be very happy. That's a 3 year opportunity to buy stock at an even more undervalued price.
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  80. I was studying Finance for 2 years but I discontinued my studies to pursue my stock market education business
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  82. true! hahah
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  83. all certainly possible, time will tell! thanks for watching :)
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  84. who is this parasite popping up in my subscription box?
    7
  85. New users of Stockopedia get a special 20% discount on any annual plan if they use this link https://stk.pe/hamishhodder or enter the promo code 'HH20' at the checkout.
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  86. thanks for the feedback :)
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  87. I am trying 😭I havn't stopped deleting comments for the last hour
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  88. 😆
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  89. What video do you want to see next? Let me know!
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  90. HUGE thank you to Seeking Alpha for making our Berkshire Hathaway trip possible. They are also offering a free 14 day trial of Premium! Free trial at this link - www.seekingalpha.com/hamish
    7
  91. Let our sponsor BetterHelp connect you to a therapist who can support you - all from the comfort of your own home. Visit https://betterhelp.com/hamishhodder and enjoy a special discount on your first month. If you have any questions about the brand relating to how the therapists are licensed, their privacy policy, or therapist compensation model, check out this FAQ: https://www.betterhelp.com/your-questions-answered/
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  92. Let our sponsor BetterHelp connect you to a therapist who can support you - all from the comfort of your own home. Visit https://betterhelp.com/hamishhodder and enjoy a special discount on your first month.
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  93. thank you!!
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  94. 4PM in the land down under!
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  95. I actually go out of my way to wear wrinkled shirts. It leads to at least 1 extra comment and helps YouTube's algorithm push my video
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  96. SEEKING ALPHA: Try it free for 7 days, then just $8.25/month (while the offer lasts) ▶︎ https://www.hamishhodder.com/seekingalpha
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  97. From July 1st 2019 :)
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  98. Alipay is not a payment processor. Alipay is a digital wallet service. Visa, Mastercard and American Express are the only major companies that facilitate and authorise transactions between financial institutions
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  99. I agree entirely, the smartest kids are also often the ones pushed by parents and teachers to become doctors and lawyers because they believe success is making a lot of money. Success isn't making a lot of money. Success is making a lot RELATIVE to the time you spend working. Successful entrepreneurs make more than doctors and lawyers without having to work 9-5.
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  100. Go to https://www.piavpn.com/Hamish to get 83% off Private Internet Access with 4 months free!
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  101. Thanks for watching! I'll put it on the list :)
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  102. If you enjoyed the video and would like to join our weekly investing/economics livestreams and access a ton of exclusive content (or if you just want to support the free content I post here on YouTube), consider joining our Investor Community for just $4.99! ▶︎ https://www.hamishhodder.com/community
    6
  103. And part of that world war was born out of a trade war between an existing power (the US) and a rising power (Japan). Not saying there is going to be a world war but its not unreasonable to think that something like that could happen again at some point.
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  104. 🤣
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  105. I'm a little rusty, haven't done this in a while... 😆
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  106. Take your personal data back with Incogni! Use code HAMISH at the link below and get 60% off an annual plan: http://incogni.com/hamish
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  107. I have a career in finance :)
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  108. Sign up for The Daily Upside for free ▶︎ https://bit.ly/3zq7uXN
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  109. What are you talking about? hahaha
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  110. the pure theory would say the possible benefit from increased government revenue cannot be higher than what's lost from higher prices BUT you are correct that in the real world with many other factors, we don't really know. So I agree, it will be something to watch in how it all unfolds!
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  111. Very true, you have to be patient!
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  112. just making a fun video man, sorry i dont meet your expectations 😔😔 havnt seen Aswath's meta videos :))
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  113. New users of Stockopedia get a special 20% discount on any annual plan if they use this link https://stk.pe/hamishhodder or enter the promo code 'HH20' at the checkout.
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  114. I still use quickfs, but I've found that TIKR is more comprehensive and there's ALOT you can do with charting and the stock screener to quickly scan stocks before pulling them into the spreadsheet.
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  115. We need Phil!
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  116. the cheese downgrade index 😂
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  117. Well considering many of the big movers this year are substantially overvalued, I'd say there are many people who have outperformed the market this year and have no idea how they did it.
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  118. More pain to come for short sellers?
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  119. I agree, I'm not timing the market. I am objectively looking at what return my businesses are offering, and making a judgement as to whether it is high enough for the risk.
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  120. It is a different PE. Its the PE we estimate the company will have in 10 years, not the PE it has today.
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  121. You're very welcome :)
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  122.  @Gazzapa57  certainly someone who has more experience in the medical field would most likely be a better teacher, but if I had zero medical experience then I know that I could learn alot from someone who has been through medical school. Their ability to teach might not be equal, and I would pay more to learn from someone with more experience. I just don't think you can put an arbitrary number on how many years experience someone needs before they can teach those who are new to a topic. I might not have 10 years experience, but I do know quite alot more than the average person who is looking for a free education online.
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  123. I prefer a world where the medical school student shares their knowledge for free online. Versus a world where there is no free education and my only option is to pay $15000 a year to learn from someone who has 10 extra years experience
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  124. 😢💔
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  125. Making youtube videos is so rewarding even without the money, I love helping people!
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  126. finally someone asking the important questions
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  127. Thanks so much! Glad the videos are proving helpful. If you need further help please send me an email and I will be happy to help: hamish@hamishhodder.com
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  128. that's exactly what a bot would say.... Thanks for watching, have a nice day yourself :D
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  129. I think most people dont consider that impact at all and in many cases the impact is substantial. I will do a full video on this in the future!
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  130. Actually if you watched the video that one model suggested an intrinsic value of $1.2T... The $330M is if you were targeting 22%, which as I mentioned in the video (again feel free to actually watch before you comment), is substantially below the current price so you'd likely have to pay more and accept a lower return/smaller margin of safety. No where in this video did I say you have to wait until $330M. I'm simply doing the maths and it doesn't lie. If you think they can grow faster then sure you might be able to make 22%. I'm simply showing the maths of ONE model.
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  131. The next few years will certainly be interesting, thanks for watching!
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  132. Yes!
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  133. https://www.dataroma.com/m/holdings.php?m=SAM
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  134. Shein is growing extremely quickly, has a broad product offering and extremely low prices. However there is a severe lack of transparency on the ethics of their supply chains and it's extremely likely there is significant modern slavery occuring at the manufacturing level. Shein might continue to do well (there's room for both companies to do well in the growing online space) but it's not a company I'd be proud to invest in or shop from.
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  135. Please keep on talking about this guy, nothing worse than someone blatently ripping off content.
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  136. couldnt agree more, ignore the fluctuations and stay in the market!
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  137. Keep at it! Once you get the hang of finding the important sections you will become much more efficient
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  138. Sign up for The Daily Upside for free by clicking the first link in the description ^
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  139. I would say thank you phill town too! And Benjamin Graham, Warren Buffett, Seth Klarman, Monish Prabrai and many other investors who have been following this approach for decades.
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  140. not AI, Howard Marks records the audio version of his memos :)
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  141. Make sure you have all notifications turned on if you wish to be notified every time I post! (you can select between personalised, all, or none by hitting the bell icon) Notifications pushed to phones can vary, they don't always go out when the video is initially published :)
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  142. oh I am far too familiar with our own housing affordability problems 😅
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  143. Great question Pierre, and that is something I have studied quite a lot. When the economy, and the stock market in general are doing well, it takes quite a significant event to push a stock down 30-50%, which means that most of the time the event actually hurts the long term value of the business, and makes it no longer a potentially good investment. When the economy is doing well, the kinds of opportunities that I am looking for are extremely rare however they do happen. A couple examples might include Apple during 2016, Facebook late last year (although I would consider that one more speculative), and my largest investment Thor Industries which went from a high of 160 down to 47 despite growing equity by 22%. However, even if you don't have the time to dig through hundreds of stocks during an economic boom (like we are experiencing now), when the world economy turns down almost EVERYTHING gets pulled down with it. People start to save more and spend less, and as a result businesses that are almost flawless will drop because their short term earnings will take a hit. An unbelievable example of this was Disney which had equity of $23 per share while the company was priced at $17.50 per share. The stock is now over $100. Ultimately you just need to have a thorough understanding of a bunch of businesses, so that when a significant event hits them, you can assess if its a short term problem, or something that will have long term consequences for the company.
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  144. ahhh so sorry we forgot to discuss that part! This is a topic a fair few people would like to hear about so we will make sure to include it next week.
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  145. Here you go: https://youtu.be/hjqA9KCKlnU :)
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  146. maybe I'm out of touch, I eat ramen noodles for most meals 😂
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  147. PogChamp
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  148. NABTrade
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  149. Me too!
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  150. You have to purchase in USD so yes to the exchange rate. But you do not pay US taxes if you are Australian, you pay Australian taxes
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  151. first!!
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  152. I think their user growth will slow to low single digits over the next couple years, but I see them having quite a way to go on the revenue per user. Facebook advertising is still far cheaper than traditional methods
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  153. Im sorry you feel that way Garry. I wonder if you'd feel the same way about a 24 yr old teaching a finance subject at university after taking the course themselves. After all, they'd be a young person who is just 'regurgitating' information from a textbook.
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  154. Yep you are spot on. Why would I want the stock price to go up if I plan on buying more stock in it for the next 5+ years. I want everything in my portfolio to go down 50% so I can deploy more of my cash into great businesses
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  155. Glad you found it useful! It's a birthmark :)
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  156. Thanks for watching, I'll put it on my list!
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  157. It's been great working with you!
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  158. Love seeing these collaborations. Real Estate investing isn't for everyone and the same can be said for the stock market, so these kind of videos are great for sharing alternative wealth creation strategies to your audience!
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  159. So yes economic conditions will get worse, but that doesnt mean that you know the stock market will get worse. The stock market operates on expectation, so the fact that you think the market will go down further, means that there are also other people thinking that and selling their stocks. Which would send the stock market down BEFORE economic conditions worsen. I am not arguing here that the market wont go down further, it very well might. But you cannot possibly know whether it will or not.
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  160. Definitely! I guess the point I was aiming to make was that a significant amount of the return Berkshire made from Coca-Cola came in the form of dividends
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  161. Agreed!
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  162. thanks Tom!
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  163. Love that one from Buffett
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  164. Firstly, I do not offer advice or recommendations on particular businesses. These videos are examples to help investors apply the process to their own investments. Anyone who is buying a stock after watching one youtube video is a fool. You have a great understanding of business but not of the stock market. The price of RV businesses fall BEFORE the end of the cycle, in anticipation of it. So while the RV market has been going up for 10 years, the price of the businesses are down 50-70%. The price has already dropped in anticipation of rising interest rates and weaker consumer confidence. What you're describing is the end of the RV business cycle, which (if you watched part 2 of the video) I explained usually results in a 70-80% drop in Free Cash Flow for Thor. You're missing the bigger picture. This short-term drop in earnings has sent the stock down over 70% because most people fear the short term consequences of exactly what youre talking about. But beyond the short term, Thor is still the best business in the industry will a consistent track record of equity and free cash growth. And very conservative models will indicate that its price is relatively attractive which is why I hold it.
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  165. I absolutely agree. Certainly 3 is better than 1 but the true test of investment skill is replicating it over 10-30 years.
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  166. Just lots of practise and analysing yourself for areas to improve so that each time you make a slight improvement on the previous
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  167. oops, thanks 😎
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  168. I don't trust anyone's economic forecasts
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  169. I see the trade war as more of a short term problem that won't have a huge impact on most great businesses in 5-15 years.
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  170. thats actually a really great idea haha I'm gonna do that.
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  171. Hahaha Year 2025: iPhone 16 only $4999
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  172. thank you!!
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  173. Glad you enjoyed it Joshua! Unfortunately the banking sector is very complex and one that is certainly out of my circle of competence (at least at the time being), so I wouldn't be much help in evaluating them.
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  174. thank you! there's a form on the Berkshire website you can fill out to receive your pass or you can collect a pass physically at the venue the day before.
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  175. I think it's something that just comes from a lot of repetition. Go check out some of my old videos, my presentation is terrible haha I like your channel, keep it up!
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  176. Thanks for watching! I will certainly make a video like that in the future! As for my credibility, I study finance and economics at one of the best universities in Australia and finance is my absolute #1 passion.
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  177. I don't use Phil Towns method but I think it's a good starting point for understanding valuation. Check out some of the videos in my 4-Step Stock Analysis playlist on my channel
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  178. Which big investor portfolios/trades do you want to see later this week?
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  179. Hi Mike, yes so that is one of the subtle differences that companies can do when reporting their sales. In that example, Nike would then have an expense that accounts for refunds, compared to Adidas which accounts for refunds in the initial sales figure. That information is found in the annual report on the company's investor relations website page. In the annual report, the company will explain how each figure is calculated so by searching for "sales" or "revenue" or "refunds" in the document you should be able to find a paragraph that explains it.
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  180. Sign up for The Daily Upside for free ▶︎ https://bit.ly/3KJDecM
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  181. I recommend talking to a tax advisor or accountant but as far as I understand you do not pay US tax if you are an Australian citizen. You pay capital gains tax in australia on realised gains.
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  182. You're so enthusiastic about people smashing that subscribe button how could anyone resist? ;)
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  183. Robert Lane Thanks! I generally make a conservative guess based on the 10 year average earnings, sales equity and cash flow growth. If a company doesnt have equity growth it does make it a bit trickier but the most important thing is just to be conservative and so long as you have a 50% margin of safety you should be sweet!
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  184. Quickfs.net
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  185. I don't analyse or invest in either so I don't know how they differ to traditional public companies. But the principle is still the same. We are trying to find the total amount of cash left over after: (A) operating the business, and (B) maintaining long term assets
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  186. Yes, might do a video on this soon!
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  187. TIMESTAMPS: Intro 0:00 Learn By Example Enrolment Info 2:36 Portfolio Composition 4:27 Returns of Individual Stocks & Index Funds 8:27 3-Year Return of My Portfolio 19:16 Limitations 20:12
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  188. i agree, ceo can make a HUGE difference
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  189. Thanks for the feedback :)
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  190. Yeah I might! I held their stock for a bit back in 2017
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  191. Hahah
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  192. Part of the platform includes daily email support so I limit the number of students to 300 a year. We have not taken new students since January :)
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  193. I cant delete them fast enough 😢
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  194. Thanks Morning Brew for my daily news briefing - sign up for free here https://morningbrewdaily.com/hamish
    3
  195. Sign up for The Daily Upside for free ▶︎ https://bit.ly/3ZvEB3G
    3
  196. yeah I guess thats hindsight for you
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  197. Thanks!
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  198. nope, I am a one man band :D
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  199. It's brilliant! It was introduced to me by a subscriber a while ago
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  200. Typically I will do a 'dipping my toes in' (3-5%) investment when I believe the stock has fallen below it's fair value. Then I only invest significantly (10%+ of my portfolio) once it falls well below fair value (50% margin of safety)
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  201. Thanks! We will get on these in the next podcast ✌🏻
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  202. not AI, Howard Marks records the audio version of his memos :)
    3
  203. Yes it will be approximately the same as using eps in most cases. But CF4O protects you against managers who manipulate eps to make them seem more profitable than they are. It is much harder for a dodgy manager to manipulate the cash flow statement figures
    3
  204. At the moment, due to the lack of good opportunities I am sitting on about 30-50% in cash.
    3
  205. Thanks for the support!
    3
  206. 😆
    3
  207. Spot on Lydia! A good investor can identify whether the short term negative news will impact the long term cash flow of a business
    3
  208. Thank you! I have a couple videos dedicated to the spreadsheet on the channel already if you are interested but I will work on making a video going through the entire process in the future!
    3
  209. Thanks for the feedback :)
    3
  210. this is a really valid point, outside the economics there are geopolitical reasons to want more variety of production done domestically (eg not wanting to be depending on a specific country for pharmaceuticals)
    3
  211. Thank you
    3
  212. You make an excellent point, however I think there clearly is a brand moat and a market for Starbucks because they've been able to grow so successfully. Whether that can continue with so many good options I'm not sure. And no the fly got away...lucky for him.
    3
  213. Quickfs.net has the four key numbers (and you can enter the data into my free spreadsheet to calculate the growth rates). In terms of same store sales, you will find this figure in the annual reports found on the company's investor relations page.
    3
  214. Complete obsession all day every day.
    3
  215. I study finance at university which has contributed but I would say mostly self-taught through successful investors such as Phil Town, Benjamin Graham and Ray Dalio.
    3
  216. Free cash flow = Operating Cash Flow - Total Capital Expenditure Cash Flow For Owners = Operating Cash Flow - Maintenance Capital Expenditure
    3
  217. Correct!
    3
  218. let's hope not!!
    3
  219. Maybe you would have, maybe you wouldn't have. But doing that over many years is a sure fire way to have zero control over your portfolio returns.
    3
  220. More coming your way! I have one lined up for February and I plan on releasing 1-2 interview videos every month.
    3
  221. 😂 I just picked random growth rates for that example
    3
  222. thanks Tom!
    3
  223. Very good point! Thanks for sharing your opinion Jens. I guess when I say overvalued I mean overvalued even after a premium has been accounted for.
    3
  224. Welcome aboard Damien! I have to restrain myself from using too much Aussie slang hahah
    3
  225. Hahah I'm very glad the bird chirping is gone. Glad to have provided some inspiration!
    3
  226. Off the top of my head the compounded return is between 30-40% but I'll likely do an official breakdown of performance since inception at the end of the year
    3
  227. Unrealised gains are irrelevant me, I have confidence because I completely understand the businesses I am heavily invested in. In the short term stocks can do anything, and since I focus on great businesses experiencing short term negativity, it is inevitable that my positions will be down before they go up. I've been studying Warren Buffett everyday for over 2 years and before everyone followed and copied his positions, he had many of his biggest investments down over 50% after initially investing. For most people it is too difficult to go against the consensus opinion because they are emotionally invested in the daily market movements, and that is because they use the short term market as an indicator of their success, rather than just knowing what they own. My confidence comes from months and years of studying the industries and individual businesses I am invested in.
    3
  228. I think some people are very quick with those kinds of calculations in their heads, but for many people having a spreadsheet saves time and makes investing more accessible. The 72 rule is a fantastic shortcut once you get fast with mathematics in your head!
    3
  229. you win 🎁
    3
  230. prices of businesses in the dow and in real estate are based on the cash they produce.
    3
  231. i dont know 🤷 sorry!
    3
  232. No because we want to discount the cash flows at the rate at our opportunity cost, which is the risk free rate. This is what Buffett indicates in his essays, and it makes sense because then you can easily work out how much you are willing to pay for those cash inflows.
    3
  233. You're right, some of the biggest companies in the world were born in the DotCom era. But most no longer exist, even ones like Yahoo which people were so certain would succeed. That is the warning to new investors.
    3
  234. 5:02 :)
    3
  235. DOGE 🐶
    3
  236. Will be back to 2 a week soon!
    3
  237. ahhh my bad! yes 15% including my cash position
    3
  238. Thanks for the feedback, I may very well add some more videos to this series!
    3
  239. I just use this website, it calculates the exact taxable income and capital gains for you
    3
  240. No I wouldn't and I'll explain why. I only sell my positions when they are overvalued. I dont care what the rest of the market is doing I only care about the price and value of my individual stocks. Most of my positions became overvalued just before the Jan/feb correction so I am already sitting mostly in cash.
    3
  241. thank you!
    3
  242. Thanks for watching!
    3
  243. thank you, much appreciated!!
    3
  244. I think that will be the case for most people, very complex industry!
    3
  245. Thanks Tom! I enjoyed the discussion you had on Punch Card Investing!
    3
  246. Well to that point specifically, they raised capital at a price of $25/s which is about 4x to how much I was willing to pay for the shares so in my eyes that's a great deal for existing shareholders. Raising capital is only a bad thing if it's done at a price that undermines the long term value of the business (ie. Done when the stock is undervalued)
    3
  247. Yes! future video covering terminal value is coming soon
    3
  248. Thanks so much!
    3
  249. thank you! 2025 will be the year of good health 😆
    3
  250. About 12% of my portfolio is in the Vanguard Australian Shares Index ETF
    3
  251. 😆
    3
  252. I appreciate you watching and leaving a comment Larry!
    3
  253. Eventide by mezhdunami
    3
  254. Buffett usually is quoted saying that he just looks to pay 'substantially less' than intrinsic value however that could be interpreted in a few ways. I'd say he likely means paying 40-60% less than intrinsic value.
    3
  255. how dare you hang up on me 😲
    3
  256. No but many Tech stocks are down alot more than that 🤷
    3
  257. Excellent!
    3
  258. You are correct I am very conservative, although I am flexible on my valuations if I think the company is strong in other areas (moat, roic etc.). My strategy is about waiting for those 4-5 perfect stocks and going heavy into them. The biggest position in my portfolio is currently Thor Industries (I value it around $180) and I talk about my other positions in my Portfolio update video. I am sitting on a lot of cash right now.
    3
  259. I'm sorry! I'll try get to it next time
    3
  260. Hope you enjoyed this one! If you have a topic or video you want me to make just leave a comment or DM me on Twitter!
    3
  261. I'll chuck a 'yield curve' in the next video for you :D
    3
  262. Thor Industries, Texas Roadhouse, Corporate Travel Management and Facebook. Check out my latest 'My Investment Portfolio' video for a full breakdown :)
    3
  263. thank you!
    3
  264. He still has a huge cash position in Berkshire and part of that would be due to the lack of investment opportunities, but it is also partly due to Buffett wanting to preserve the capital of shareholders, many of which have their life investments in the company. I do not know of Buffett buying gold, I would highly doubt it considering his stance on non-productive assets
    3
  265. Yes! Coming out next week :)
    3
  266. I do wish Apple would return to pushing the boundaries again like Steve Jobs
    3
  267. Thank you! I had some help from a subscriber who was able to embed google finance data. I will put that video idea on my list!
    3
  268. Thanks Scott!
    3
  269. Thanks for watching :)
    3
  270. Sign up for The Daily Upside for free ▶︎ https://bit.ly/3yl69O2
    3
  271. I look at hundreds and deeply analyse about 2 every month
    3
  272. I suggest you watch the entire video as this is explained pretty clearly!
    3
  273. I'll put it on my list!
    3
  274. On the first page of the spreadsheet there is a link to a full tutorial!
    3
  275. thank u!
    3
  276. Check out Seeking Alpha for a comprehensive community of expert analysis and news coverage, financial statements and company filings, portfolio tracking and much more! ▶︎ https://www.hamishhodder.com/seekingalpha
    3
  277.  @normalnormal9066  did you watch the video haha
    3
  278. Macrotrends has Return on Investment which is the same figure
    3
  279. Thanks! And definitely make a visit to Australia :D
    3
  280. Yep, you need to be investing before the market revalues the stock
    3
  281. that is a very good point!
    3
  282. Thanks for watching! Yes I am, and I will be making another video covering it when their Q4 earnings come out in September
    3
  283. very possibly true!
    3
  284. that is true! and is why I stick to businesses with very low levels of debt (for the most part), because those businesses have a very low chance of failing
    3
  285. I'll stick to hedging with cash
    3
  286. Thank you so much! I have a rough script with notes and just memorise sections at a time :)
    3
  287. Thanks Jarred, it's been great working with you. If you are interested in joining the wait list Susan, check out the link below. https://www.hamishhodder.com/enrolment-closed-page
    3
  288. It was a value trap at previous levels but it's down 75% from its high, and by very conservative numbers it can produce a decent return at around current prices. Sven has the same position, the stock was expensive but has become significantly less expensive. My only disagreement with Sven is his valuation is too conservative and doesn't take into account the incremental benefit of the Erwin acqusion.
    3
  289. Dogecoin
    3
  290. There are many indicators we can look to but some of the major ones include: stock ownership, length of time at the company, trading habits, history of achieving goals set in previous years
    3
  291. Also ROIC to see how effective their decision making has been
    3
  292. thanks for watching and for the video idea!
    3
  293. yep agreed, analyst consensus has a huge impact on a stock's price, and the problem with this is that analysts are looking 12-24 months out. So any short term bad news will dramatically impact their valuation, but won't impact mine because I am looking 10+ years out.
    3
  294. 🎣🎣
    3
  295. agreed. forward earnings work until they don't
    3
  296. Thank you so much! Valuation is very complex so that 50% margin of safety is key to ensure you dont over estimate. You are correct, there arent many bargain stocks out there producing 15%+ growth however I am optimistic that some opportunities will arise in the near future. Welcome to Australia and hope you stick around on my channel :)
    3
  297. yep, it very well could be. Thank you so much Paul! much appreciated!!!
    3
  298. I appreciate the feedback, the answer to the question is to buy the index
    3
  299. Investing is how many people get themselves out of a week-by-week situation so while it may not be an option for your particular situation, it is a great option for many.
    3
  300. Recently did a video on Gold if you are interested, but essentially I don't touch it because I can't estimate it's future value.
    3
  301. Thanks Spicer Capital! I did an internship at a capital management firm and they used a similar (more complex) version of the matrix.
    3
  302. Thanks Alex!
    3
  303. 😂😂
    3
  304. Are you an Aussie who wants to invest in US stocks for FREE? Stake Trading is an Australian online trading platform with ZERO brokerage! Sign Up at hellostake.com and Use my referral code "hamishh895" to let them know I sent you!
    3
  305. No dividends in that comparison for either portfolio
    3
  306. Berkshire Hathaway has $100b in cash and short term investments, yes, but it also has $700b total assets from the whole businesses it owns
    3
  307. what's the context for this?? hahah
    3
  308. I'd say it's very likely we will see $40/s if the RV industry is at the end of it's cycle and continues to shrink
    3
  309. Download Pipedrive now to get a 30 day free trial and 20% off for the whole year: https://aff.trypipedrive.com/HamishHodder
    3
  310. I've got a video on it on my channel!
    3
  311. YES. You also need to double the RR multiple too if you are looking 10 years out. I.E if you are targeting a 15% return over 10 years, then the RR would be 8 instead of 4.
    3
  312. Equity can be found on the balance sheet and FCF can be found under "ratios". both are available with the free version however I would always check these against the actual financial reports to be sure theyre right.
    3
  313. I heard my voice in that intro ;)
    3
  314. Sign up for The Daily Upside for free ▶︎ https://bit.ly/3Dvehyd
    3
  315. PLANTONE Great question! Profits talked about here are all pretax! I generally don't make a lot of trades and when I do I make sure the brokerage is less than 1%. Thanks for the comment!
    3
  316. As for the 50% tax, I think you may be a little bit confused about capital gains tax. For financial assets held for less than 12 months, you paid tax on the full capital gain at your personal income tax rate (mine of which is 19%). If you hold an asset for more than 12 months you only pay capital gains on half of the profit, but the tax paid on that is still your personal income tax rate.
    3
  317. Hahah
    3
  318. Correct! My channel focuses on long term investing :)
    3
  319. I look at all three but I value ROIC the highest because it takes both equity capital and debt capital into consideration while also taking out capital paid out as dividends. I also like ROE because it measures what return management is getting on the equity proportion of its capital, but all three are very relevant! Ideally you want to see the return growing over time, from the 10 yr average to the 5yr average to this years return on equity, assets and invested capital.
    3
  320. Thank you!
    3
  321. https://www.hamishhodder.com/spreadsheet
    3
  322. Get 25% off Blinkist premium and enjoy 2 memberships for the price of 1! Start your 7-day free trial by clicking here: https://www.blinkist.com/hamishhodder
    2
  323. Commsec international
    2
  324. Thanks mate!
    2
  325. Hi! The answer depends on which offers more opportunities to buy companies you love, that are great and priced below their intrinsic value. I find myself looking to the US because there are more consumer companies that have substantial advantages, where as most of the biggest Australian companies are in industries I have no interest in (banking and resources)
    2
  326. Very interesting, thanks for sharing!
    2
  327. Yes I agree with you. I don't always wait for 50% discount because I still want to be substantially in the market. I don't really care what the crash looks like, I just want to see businesses prices come down relative to their future earnings
    2
  328. hahah amazing
    2
  329. Yeah so if a company has cash on their balance sheet you should subtract that from the market capitalisation when estimating what price to pay. If you bought a house for $200k but it had $100k in a safe inside, you really only paid $100k. I would say the same for marketable securities especially if management has a track record of high return on investment
    2
  330. Yes, caravan is an Australian term for RV :)
    2
  331. Thanks for sharing!
    2
  332. Yes both great teachers as well!
    2
  333. Saviraj Randhawa Overall budget including product, photography, marketing etc was A$5000
    2
  334. 🤣🤣
    2
  335. Thanks Scott you legend ✌🏻
    2
  336. 🤣
    2
  337. I'll check it out!
    2
  338. Thank you!
    2
  339. The formulas only work on Google Sheets. You can download the excel version on my website though: https://www.hamishhodder.com/spreadsheet
    2
  340. Thanks!
    2
  341. thanks David!
    2
  342. thanks for the feedback shane!
    2
  343. Thanks for watching Michele
    2
  344. Thank you!
    2
  345. I use the risk free because that is the rate Buffett uses. He then gives a HUGE margin of safety depending on how certain he is about the future cash flows.
    2
  346. :O
    2
  347. Phil Town's books! Rule #1 and Payback Time.
    2
  348. Tesla isn't one that I've had success analysing with confidence at this point. I use a discount rate of between 15-22%
    2
  349. if youre broadly diversified then you really have little to worry about over the long term. It's almost a certainty that the US and AUS markets recover if given enough time. Individual stocks are a different story though because some will not recover from an event like this and you need to be careful to pick businesses that will continue to thrive long term
    2
  350. haha i think you probably know the answer to that based on this video
    2
  351. Thanks!
    2
  352. I agree
    2
  353. They own Jayco. It's a subsidiary of Thor industries
    2
  354. Thats great chuck! Thanks for watching ✌🏻
    2
  355. Thanks Sundar! I think I'm going to do these videos more often, plenty of companies reporting this week!
    2
  356. Thanks for watching Matt
    2
  357. Thank you!
    2
  358. I don't tend to try value index funds as I just use a dollar cost averaging approach. I just buy the same amount every 6 months to average my price. One way you could value an index is to use something like the Shiller PE and wait for the PE of the market to be below average but I don't do this myself.
    2
  359. Yes
    2
  360. Indeed! Thank for watching
    2
  361. and even if we don't have a major meltdown in the near term, I absolutely feel alot more comfortable holding a bit more cash on the sideline rather than going all in. Thanks for watching!
    2
  362. Thanks Franky!
    2
  363. That is an interesting approach, I hadn't thought of that before!
    2
  364. I studied EMH at university so I am well aware of its complexities however to make the video more accessible to the average person simplification of complex ideas is important, each to there own! Strong-form EMH claims that all information, private and public is reflected in stock prices which does in fact mean no one can make an excess market return. You might have the opinion that EMH means prices tend that way over the long term, and I agree with you, but that is not what EMH is. Jason, I agree with everything you say except that you have a different definition of EMH, a definition that is not the one taught in universities, and you think I dont go into enough detail on such theories. You can use your platform to explore the details of portfolio theory and market efficiency but I am making this channel accessible to the average person, and the average person just needs to know that price doesnt always equal value.
    2
  365. great question and we will answer in detail in our next podcast!
    2
  366. The intrinsic value number is a present value, not future value. That might be why we are getting different numbers.
    2
  367.  @bradengee5093  thanks for watching Braden!
    2
  368.  @bradengee5093  What you need to use is a Discounted Cash Flow calculator for those models because the cash flow is growing over time. If you download my free spreadsheet here: https://www.hamishhodder.com/spreadsheet there is a calculator that does it for you.
    2
  369. Ahh thanks for sharing that Tom!
    2
  370. Thank you :))
    2
  371. I'll put it on my list!
    2
  372. Thanks for watching!
    2
  373. It's very off putting when a management doesn't care about the owners who essentially put them in those positions.
    2
  374.  @m.morininvestor9920  you're welcome. Thanks for watching!
    2
  375. Yes it's fairly common when's company is making an acquisition
    2
  376. thank you for subscribing!!
    2
  377. Agreed. It is very important to be able to distinguish between luck and skill!
    2
  378. Thanks for watching!
    2
  379. thank you!
    2
  380. Thanks for watching! I run an investing platform and community to help value investors outperform the market.
    2
  381. You can find alot of them on a website like Finviz
    2
  382. thank you 😀
    2
  383. Yeah for sure! I'll do one soon.
    2
  384. That's a great idea, I'm on it! So glad the content is helpful, I know how daunting it was when I was staring out. If you have any other video ideas that would help you let me know :)
    2
  385. Often CapEx is described as Property, plant & equipment. You will be able to find the figure in the 'management's discussion and analysis' section of the annual report, under 'Investing Activities"
    2
  386. that is very true! To mitigate this I try to keep cash in USD and AUD.
    2
  387. Me too, it was down 11% in premarket but finished down only a few percent.
    2
  388. Yes I also estimated their maintenance Capex to be $40m for 2018. You should exclude the joint venture because it's investment in the business, and yes do not deduct the dividend because you get it as the owner
    2
  389. Hey Jonathan, glad you're enjoying the videos! I get most of the core data from quickfs.net and then beyond that I dig deeper by reading the annual reports of the company. The annual reports give you details about Management's approach to growing the business and more specific numbers about their internal investments such as how much each new restaurant will cost if it's a fast food chain. Also listening to conference calls is a good way to find out what short term problems are impacting the stock price
    2
  390. Thanks! Nice to meet you too :)
    2
  391. Thanks Stephen!
    2
  392. of the stocks I understand many went from very overvalued to fairvalue/overvalued. I think we will likely see a much bigger correction in the near future
    2
  393. Thank you Matthew!
    2
  394. thank you for watching!
    2
  395. Hahha very common. I'm a very simple man: I see a cheap black t shirt, I buy.
    2
  396. Thanks for watching! I'll put it on my list
    2
  397. Glad to be back!
    2
  398. This decline in price has been a blessing despite it seeming the opposite. I have continued to build a substantial position in Thor and hope it'll go into the 30s.
    2
  399. Thanks for the feedback! Yes hopefully over the next few years as interest rates rise, stocks will decline to affordable prices. I am taking steps towards real estate investing which I can talk about in an upcoming video. I am also learning as much as I can on Amazon FBA and am excited to share my journey over the next year!
    2
  400. Update video coming out this week!
    2
  401. Less stress is best!
    2
  402. thank you!!
    2
  403. Thanks Sam, I like that as an idea for a video I'll note it down! Until that video comes out, me and Brandon from AWC spoke about this indepth in one of our podcasts. Its called the Young Investors Podcast!
    2
  404. I did one a while ago for Google in an old video but I am planning on doing an updated version very soon!
    2
  405. Yeah that's true! It's been quite volatile in the past year. Investors seem to be not sure what the long term value of the business is.
    2
  406. I'll work on adding that in the next update. Thanks for watching
    2
  407. Is there any disadvantage to opening a heap of credit cards in a short period of time?
    2
  408. Nice! Thanks for sharing
    2
  409. Thanks Jacob :D
    2
  410. I think so!
    2
  411. Hope you're not skipping those ads, thanks for watching ;)
    2
  412. Great to hear Bryan!
    2
  413. Thank you!
    2
  414. check out some of his essays on LinkedIn!
    2
  415. Sure! I have a couple videos on my channel discussing it already but I am working on making an newer updated video soon!
    2
  416. no, thank you for watching ❤️
    2
  417. Personally I like 4-8, so that youre not concentrated too much in a company but you can also keep a close eye on all your investments!
    2
  418. Nice!
    2
  419. You definitely want to make sure the dividend is safe! I didn't focus too much on dividends here but you definitely want to include that in your model when doing a full valuation.
    2
  420. thanks for watching!!
    2
  421. glad you enjoy them! I appreciate the kind words 😊
    2
  422. Yes
    2
  423. Very interesting! I don't look closely at commodity businesses so I am not qualified to talk about it, but what youre saying sounds like a good strategy.
    2
  424. thanks so much :D
    2
  425. So awesome to hear Matt. Thanks for supporting the channel :)
    2
  426. This is great Scott, you clearly have a great understanding of what makes a successful pharma business and youve taught me a few things in the process! Thank you for always sharing your opinion, it makes making videos so enjoyable because I know there will be some insightful comments to read from nice people like you.
    2
  427. NAB was my first ever investment so I'm going to hold it forever. YY is a speculative investment and it's so small that I don't see a reason to sell it at this point.
    2
  428. ROIC which tells us how effective management is with our money is only 2.5% this year and 6.7% on average over 5 years. From plus the downward slope of earnings, sales and equity tells me that management isn't doing a very good job. I would rather invest somewhere where management has proven they know what they're doing!
    2
  429. Will L Thank you! I havn't had a proper look into that one, I'll have to check it out!
    2
  430. Thanks so much Josiah! I really appreciate it
    2
  431. 🎉🎉
    2
  432. You're very welcome! I use a website called quickfs.net for 10 year data on US stocks.
    2
  433. Yes! https://www.hamishhodder.com/spreadsheet
    2
  434. Thats great that AMAT has served you well over the past decade! Thanks for the support and I am planning on providing a free download link to my complete spreadsheet in the near future so stay tuned!
    2
  435. Thanks Jessica!
    2
  436. Yeah so I will generally avoid a company that is issuing more shared regularly because it's difficult to work out how diluted the shares will be in the future. By using total equity and only investing in companies that don't dilute the shares, you are leaning on the conservative side. Because if they then decide to buy back stock, the shares will become more valuable.
    2
  437. Thats so nice of you Shane, I appreciate the positive feedback! I hope we can grow this community much bigger 👊
    2
  438. hahahha love it!
    2
  439. I'll check it out, thanks for watching!
    2
  440. There are a few different ways you can calculate terminal value and I will be covering this topic in a video very soon!
    2
  441. Yes it is, however the inputs I use are different. In the finance industry they will typically use EBITDA as their profit figure and WACC as the discount rate. I use Owners Earnings and a constant 22% discount rate
    2
  442. Congratulations! I sent you an email :)
    2
  443. I'll put it on my list, but in the mean time we spoke about afterpay on episode 2 of the Young Investors Podcast if you are interested!
    2
  444. thank you!
    2
  445. yeah could very well be!
    2
  446. Thanks for the tip!
    2
  447. Best subscriber on YouTube!!
    2
  448. Thanks, I'll cover it in a future video :D
    2
  449. Just seeking out financial education makes you far ahead of the average person, give yourself more credit!! Thank you David :)
    2
  450. As you wish Keelan!
    2
  451. Wow thanks so much!
    2
  452. Hey Mark! My favourite stock market books are The Intelligent Investor by Benjamin Graham, and any of Phil Town's books: Rule 1# or Payback Time.
    2
  453. Yeah there's definitely some truth to that. The stock has been quite volatile over the past year however so the market definitely isn't settled on what the long term value is
    2
  454. Ah thats very interesting! I really like the Vanguard index funds because of their low fees, I'm invested in the Australian market equivalent :)
    2
  455. Yes my platform that is launching in a few weeks ;)
    2
  456. thanks!
    2
  457. Thanks for watching! More videos for beginners coming soon :)
    2
  458. Let our sponsor BetterHelp connect you to a therapist who can support you - all from the comfort of your own home. Visit https://betterhelp.com/hamishhodder and enjoy a special discount on your first month. If you have any questions about the brand relating to how the therapists are licensed, their privacy policy, or therapist compensation model, check out this FAQ: https://www.betterhelp.com/your-questions-answered/
    2
  459. Aussie Wealth Creation Thanks Brandon! Really appreciate the support.
    2
  460. Not keen on saying the exact amount but it is 5 figures :)
    2
  461. Thanks Sean! Keep up the videos bro 👊
    2
  462. Nice!
    2
  463. the intro was a study done in LA County, the second story was in Detroit.
    2
  464. Thats so great to hear Liam! Let me know if theres anything specific I can help you with 😎
    2
  465. Email me and I'll send it directly to you
    2
  466. If you target 22%, it is the same as 15% + 50% MOS. If you target 15% it's the same as 7% + 50% MOS
    2
  467. Making a video on it today, will be out tomorrow!
    2
  468. What a compliment!
    2
  469. It's important to be transparent to keep everyone's expectations in check. You get in trouble when you start thinking you can make triple digit returns over short periods of time!
    2
  470. great suggestion! I have a video coming out this week on saturday that goes through the entire spreadsheet. When it is released I will link it in the spreadsheet
    2
  471. Thanks Nelson
    2
  472. 😆
    2
  473. Great point! And is exactly why the very first step is to completely understand the businesses you intend on owning.
    2
  474. Thanks for watching, I'll have a look into it for you!
    2
  475. Thanks Oscar! I'll work on getting more ASX content out to you guys :)
    2
  476. yeah its certainly something to think about. When we buy a stock we can pay say 30% less than its intrinsic value which will ensure that we make a high return even if the company performs poorly. The importance is ROIC to me is 2 fold: (1) its a good indication that the business has competent management and a wide economic moat, and (2) companies with high ROIC over the very long term will compound your investment at a high return.
    2
  477. thank you for watching!
    2
  478. Youre welcome, from Australia!
    2
  479. Thanks for the feedback!
    2
  480. Glad you enjoyed Tobias!
    2
  481. thank you!
    2
  482. I couldn't resist, dont get a 20% pull back too often. Thanks for watching!
    2
  483. Thank you! Thanks for subscribing :)
    2
  484. Thanks Scott! Yes I havnt included the buy backs because they can be hard to quantify but they shoulf absolutely play a role in your buying decision. I would probably use the same method but be willing to pay a higher price due to the potential for gains through the buy backs. Hope that makes sense, great question!
    2
  485. I've found a few that have done well for me, few more getting closer due to industry headwinds but most are 40-60% above a price id be happy with.
    2
  486. Doing a yearly update in the next few weeks. I felt that the monthly updates didn't provide any value for a long term investor.
    2
  487. I have a video on 10 cap already and yes a video on Chipotle will be coming
    2
  488. Thank you!!
    2
  489. Yeah its been crazy! Amazon missed revenue by 1% last week and its down almost 14% since then.
    2
  490. You sir are amazing!
    2
  491. Yes they will take a cut both ways. Before you complete the transfer you can see the exchange rate you are getting.
    2
  492. Thank you! Colour grading is not my area of expertise, haha, so if you can help me further please send me an Instagram DM
    2
  493. J. D I'm on it!
    2
  494. G'day!
    2
  495. Woohoo!
    2
  496. Thanks for always providing such great insight Scott! I will be watching Amazon and if their PE ever comes down significantly I would be very interested in owning part of it
    2
  497. Tesla is down 50% LOL
    2
  498. Check out the video explaining how to use it. It's on my channel!
    2
  499. You need to make a copy of the spreadsheet before you can edit it
    2
  500. Agreed! Thanks for stopping by Michael :)
    2
  501. Thank you!
    2
  502. Of course they are my opinion, but it is my opinion that they are widely held false beliefs, which also makes them myths. I encourage you to share your own opinions as I think people should hear as many points of view as possible!
    2
  503. Thanks for watching as always Tom! Dalio is a fascinating person to learn from.
    2
  504. It absolutely will be rewarded mate, like buffet says you only need a few winners over an investing career to do very well long term.
    2
  505. I'll check it out
    2
  506. thank you!
    2
  507. Yes, operating cash flow has already done that step for us.
    2
  508. I receive hundreds of emails with questions every week and I manage to reply to some, but not all! Thanks for the comment :)
    2
  509. Thanks for watching, its hard to stay rational when it just keeps falling!
    2
  510. I wouldn't sleep well at night if I didn't understand what I was buying!
    2
  511. Thanks for watching! I'll put that video idea on my list :)
    2
  512.  @humbertocabrera4379  hahah maybe one day ;)
    2
  513. Thanks for watching Jonathan!
    2
  514. It's not timing the market because I'm not trying to predict where the bottom is, but rather making sure every investment I make is purchased at an appropriate price. If you are waiting for years out of the market without finding any investments then sure, you could be missing out. But in my experience, even when most of the stock market is going up, there are businesses/industries that go through short term problems and offer opportunities to buy them cheap.
    2
  515. I agree!
    2
  516. thank you!!
    2
  517. Sven provides such good content! Thanks for subbing :)
    2
  518. It sure is!
    2
  519. That sounds like a good approach, thanks for sharing. MCX is maintenance capital expenditures and IRR is internal rate of return.
    2
  520. Great to hear! I am pretty much doing the same as you Sean :)
    2
  521. Thank you!
    2
  522. Thanks for watching :D
    2
  523. Sounds good
    2
  524. Yeah I'm definitely risking making a lower return by holding more cash, but if the market goes down substantially in those 3 years I will make alot more than if I was 80-100% invested. Everyone had their way of hedging their bets and this is mine!
    2
  525. Google search 'texas Roadhouse investor relations'
    2
  526. 😂😂 it's okay Nikko he's just pulling my leg
    2
  527. Lol did you watch the video? No economic moat...I never invested in it...
    2
  528. Welcome!
    2
  529. thank you!!
    2
  530. that is exactly what the finance space needs
    2
  531. You're welcome! Thanks mate really appreciate it.
    2
  532. No it's correct and the reason why is because we are comparing the cash generated by the business to the total amount of money management has invested. And management gets money from 2 main places: reinvesting earnings (which creates equity) and debt. So we want the total of both which is why we add them together
    2
  533. I'm on it!
    2
  534. Thank you!
    2
  535. My preferred ratio is Return On Invested Capital (very similar to ROA) and I look for companies that consistently hit 10% or higher
    2
  536. It will change if my estimation of future cash flows change but usually that isnt something that fluctuates too much if the business is stable and consistent
    2
  537. I am glad you are following me too!
    2
  538. Glad youre enjoying Tiago! Yeah absolutely, at the moment I'm working out how I can break it down into a couple videos so that its easy for beginners to understand! If you havnt seen my "easiest way to accurately value a stock" video i suggest you check it out as I use my spreadsheet with an example in that, however I will be making a more comprehensive guide in the near future!
    2
  539. You'll have to find out ;)
    2
  540. Must have been a typo from the website I screenshotted from. Yes big difference, a hair is about 100,000 NM 🤣
    2
  541. Thanks for watching, glad you enjoyed! These videos take a lot of time to prepare for! I will definitely be making more of this type of video, it's probably my favourite to do because I love researching interesting businesses!
    2
  542. 😆 that is true!
    2
  543. I've made a few investments in the past but none very recently. Not necessarily because I think it's expensive but because I have other opportunities for my money with a high return
    2
  544. hahah
    2
  545. Quickfs.net
    2
  546. The rational method is the same with any stock (IPO or not): Estimate as accurately as possible the future cash flows. This is fairly easy with simple, stable businesses and almost impossible with IPOs. In most cases the IPO will have too much downside for the upside. Like, buying a lotto ticket gives you huge upside (if you win) but the downside is far more likely
    2
  547. Send me an email :)
    2
  548. Thanks Sean!
    2
  549. Thanks for watching Paresh, glad this style of video was educational!
    2
  550. Thanks!
    2
  551. I felt as though they didn't add much value to the long term investor but I may bring it back for a half-yearly or yearly review later in the year.
    2
  552. Canine 7 Lam research looks very promising, I have a recorded an analysis on it and it will be out in the next week!
    2
  553. It will be out in the next few days, not 100% what day. It is going to be featured on the CooperAcademy channel so go subscribe to him so you don't miss it!
    2
  554. Canine 7 It is now out on Cooper Academy's channel!
    2
  555. I don't have one made up at the moment but send me an email and I'll put one together for you: hamishwhodder@gmail.com
    2
  556. Without advising you what to do specifically (I cannot legally do that), I can share with you what I did when I started at the age of 18. I started by investing into an index fund that tracks the top 300 companies in Australia (Vanguard Australian Shares Index) which is expected to increase by 6-10% over the long term. Then I spent a lot of time trying to find 1 really great business that I could add to my portfolio. Once I had found one great business, I moved onto finding another and another to point now where the Index Fund is about 10% of my portfolio and I hold 5 individual stocks that represent the other 90%.
    2
  557. Ivan Moshe thanks so much Ivan! means the world :)
    2
  558. Thanks Sean!
    2
  559. Thank you Brice!
    2
  560. Great perspective! thanks for sharing. And I agree, I think Thor has a while longer to go down and I have only just started to build the position.
    2
  561. Yeah we had so much fun making it that we're going to try for weekly or fortnightly!
    2
  562. Thanks for watching Tom 😁
    2
  563. 15% return on the money you invest in the company so yes if you have 50% of your portfolio in cash and you invest 50% your portfolio's overall return would be 7.5%. Yeah it can be difficult so I use a website called Sharesight to keep track of all my investments.
    2
  564. Thanks! haha I'll put it on my list :)
    2
  565. Thanks so much Christy!
    2
  566. Thanks James 😊
    2
  567. Cheers Sean!
    2
  568. Thanks for watching and sharing your perspective! They've certainly lost their huge market share (at least in the US) since the introduction of competition from the legacy media companies.
    2
  569. Sharesight.com/hamishhodder
    2
  570. I agree. Google is a free service and there is nothing (no cost or time) to stop the consumer if they want to use a different search engine.
    2
  571. Hi Patrick, thanks for watching! Yes it is still one of my larger investments :)
    2
  572. They vary slightly however for the most part they are the same as US annual reports
    2
  573. A video on the DCF spreadsheet is coming out next week!
    2
  574. Thank you!
    2
  575. 😂😂 3b is a penny stock?
    2
  576. ;)
    2
  577. You're welcome Mick!
    2
  578. Yeah absolutely, over a 10 year period I think it will do quite well, but in the short term I would expect it to perform poorly. That website is quickfs.net :)
    2
  579. thanks Daniel!!
    2
  580. I don't know of any free australian sites that offer 10 years of data. I usually go to Commsec for Australian data or I just manually find the data in annual reports on the company website.
    2
  581. I'll have to check him out
    2
  582. That sounds very interesting, I'll check them out for you!
    2
  583. Thank You!!
    2
  584. Momo is a very similar company to YY (which I have a speculative position in). Both of these stocks haven't been profitable for 10 or more years (or even been around for 10 or more years) which makes it difficult to estimate where they will go in the future. For this reason it is not smart to try analyse the growth potential, however these high growth Chinese businesses can be good for a small (1-5%) speculative position in your portfolio. Hope this helps!
    2
  585. Thank you so much!
    2
  586. Great job! Thanks for watching
    2
  587. thanks for watching!
    2
  588. Thank you!
    2
  589. Thanks for sharing Scott and I am going to a few places in South East Asia!
    2
  590. Agreed!
    2
  591. Thanks for the comment! I often use 'Free Cash' or 'Free Cash Flow' for simplicity when discussing cash that can be pulled out of the business by owners. What I am really referring to is Owners Earnings (Buffett's FCF adjustment that essentially excluded non-essential expenditure on long-term assets) I talk alot about Owners Earnings on my channel so sometimes I forget to make myself clear. Thanks for the feedback!
    2
  592. Thanks for watching!
    2
  593. Awesome thanks for the suggestion! Its good to be back :)
    2
  594. Love Costco's business model, havnt looked at NVIDIA!
    2
  595. im back!
    2
  596. Buying physical gold is one option. As well as various Gold ETFs or Gold Resource companies that benefit from increased Gold prices. However, to be clear, I do none of these in my own portfolio.
    2
  597. Buffett is in a unique position because of the amount of money he has to invest. He already has $100B+ in cash so he needs to deploy new capital into stocks and even though Apple might not offer a 15% return at the current price, it still likely offers q 4-8% return which is better than the -1-2% if he held more cash. For investors like you and me we likely won't do this because its serves us better to hold cash and buy equities when they're cheap.
    2
  598. Thank you! Glad you are getting value out of the content :)
    2
  599. Great question. The cost of debt is already an expense taken out of profit, so that is how that is calculated. And the cost to the shareholder is the return that you require on the investment. The ROIC just shows us what is left over (profit) after the business makes an investment, generates revenue, and pays expenses (including interest on debt).
    2
  600. The only emails that are actually from me will be from: hamish@hamishhodder.com If you are ever unsure but are interested in joining my community, you can reply to the email with your concern and I will always direct you to purchase directly from my website (www.hamishhodder.com). I will NEVER ask for payment over WhatsApp or anywhere other than directly through my website.
    2
  601. Without looking thoroughly into the company, their numbers have been growing at about 3-5% per year over the long term, so to have a PE ratio of 33 seems quite high (although I have not looked into the company itself). I think at the current price it is quite risky, for example: If it only grows earnings at 5% per year over the next 10 years (which is the rate it grew at from 2008-2017), and it has a PE ratio of 20 (still higher than the long term market average), the stock price would be sitting at $214, not much higher than it is right now. So while it has the potential to grow at 8-10%, I would not be comfortable with the potential downside returns. I am interested to hear your opinion as I have never had a thorough look into 3M as a business!
    2
  602. Hi there, most likely you provided it when you downloaded my analysis spreadsheet. you can unsubscribe from emails at the bottom of any of my emails :)
    2
  603. Thanks!
    2
  604. That's actually what I plan on doing! I am sure there are plenty of useful nuggets I can share with you guys, thanks for the suggestion.
    2
  605. Thanks Tom!
    2
  606. Thanks Sebastian. When you're managing a fund as big as Buffett's you need to put money to work somewhere. For retail investors like you and me, we may opt to keep extra money in cash and wait for a recession. While Buffett is also doing this, because they have such a large amount of cash they need to some of it in equities and while Apple might not offer a 15%+ return at the current price, it likely still offers a safe 4-6% return.
    2
  607. Exactly, it is a lot easier for small investors like us because we can just sit mostly in cash and wait for prices to become more attractive. Buffett has to put investors money to work.
    2
  608. 😂😂
    2
  609. Very applicable information as usual Graham!
    2
  610. This will depend on where you are located but there are brokers in most major regions that offer London Stock trading. In Australia, NABtrade has the cheapest out of the 4 major banks
    2
  611. Depends on your definition of value :)
    2
  612. Essays of Warren Buffett Rule #1 Investing
    2
  613. I just copy and paste them directly from quickfs.net most of the time
    2
  614. She is a Toy Cavoodle :)
    2
  615. Aussie Wealth Creation 100% agree, strong ROIC shows me management knows how to create value for the shareholders.
    2
  616. Thank you! At the moment they are just informal videos where I talk for about 30-60 seconds on a news topic, so no stock market educational or analysis videos. I have thought about that alot and I an still deciding what I am going to do so stay tuned!
    2
  617. Thanks so kind of you to say Ashain! Glad to be providing you value, any specific topics you'd like me to cover in a video?
    2
  618. I'll check it out! Thanks for watching
    2
  619. Thanks! Not particularly, even when the markets were hot in 2018/2019 there was pockets of the market that were struggling. There will almost always be some industries or businesses struggling with short term problems and which open up opportunities.
    2
  620. Well I am certainly going to underperform if their is no significant market correction, but I think that is unlikely.
    2
  621. You are wrong. Look at the long term stock movement of any business and it will be highly correlated with their profitability. Short term movements are controlled by investor sentiment, but long term trends are based on the cash produced by a business, in the same way real estate prices are dictated by cap rates.
    2
  622. okay thanks for the feedback
    2
  623. Well here you go!
    2
  624. Nice!
    2
  625. Not yet, but I am going to make a MASSIVE Thor video because I've had a few people ask me about it!
    2
  626. Thanks for the on going support!
    2
  627. Thanks for watching!
    2
  628. Looking at companies with strong financial conditions is how we can be confident they will be safe investments in the future. I too get lost trying to evaluate companies with weak financials, which is why I avoid them at all costs.
    2
  629. Thanks Sean!
    2
  630. Here's your gold star 🌟
    2
  631. Macrotrends is a good free one
    2
  632. Hey Aaron! Glad to have you as a long time subscriber :D
    2
  633. 😂😂 thanks so much!
    2
  634. Feel is this case is slang for data. I don't think anyone remembers how they felt 20 days ago let alone 20 years ago 🤣
    2
  635. Yeah for sure! Ill check them out for you :)
    2
  636. 10-15%
    2
  637. Thank you so much I really appreciate it! I hope it grows quick too haha
    2
  638. Thanks man! If you keep improving and making new content I'm sure you will.
    2
  639. Quickfs.net has 10 years data for free!
    2
  640. Hahah she's keeping me busy!
    2
  641. No one can know when exactly it'll all come crashing down!
    2
  642. I actually spoke about this with Brandon in our latest Young Investors podcast if you're interested in a full answer from us (the podcast is on the Aussie Wealth Creation youtube channel), but essentially I don't use margin because I tend to think it encourages you to make poor investing decisions, such as selling shares when their price goes down.
    2
  643. Thanks Pedro!
    2
  644. yeah i know :( it's really bad and there's nothing I can do about it unfortunately
    2
  645. Yep I've seen a fair few mean spiders
    2
  646. You're welcome!
    2
  647. Thank you!
    2
  648. 7 months :)
    2
  649. myhister Thank you! I really dont like to have a stock thats more than 20% of my portfolio because it does leave you very exposed. But in saying that, I'd rather have 5 stocks of 20% each than 100 stocks of 1% each, because I want to know everything about the businesses I invest in.
    2
  650. myhister Sounds like a good strategy!
    2
  651. Nice job calculating the value! Personally I see Thor with a value of around $150 (a buy at $75) so Ill be waiting a bit longer before selling off any of my position. I think the market currently is valuing Thor too low because of fears surrounding steel tariffs but it is great that you are being very conservative because it means when you do find a couple businesses in your buy range, you will make a lot of money on them.
    2
  652. Thank you for being a long-time subscriber of the channel!
    2
  653. Wow so kind Oscar! Thanks for the support :)
    2
  654. Thank you!
    2
  655. Youre not making it up it's been crazy!
    2
  656. Very hard to define, but I try to dig really deep into a company and learn exactly how they specifically make money. E.g what dealerships does the manufacturer sell to, who supplies them, how they advertise etc. If it gets too complicated I stay away.
    2
  657. It's definitely a step in the right direction!
    2
  658. Thanks for sharing Federico thats huge news!
    2
  659. Out tomorrow at 7:45am!
    2
  660.  @lakhe617  great analysis, I agree with almost everything he said except his valuation. I value the company at a higher price than he does.
    2
  661. Yeah at 10% growth and 28 PE, the current value would be about $130, and a buy at around $65 (allowing for 50% margin of safety)
    2
  662. You're welcome! Congratulations mate.
    2
  663. Yes that is possible!
    2
  664. Very likely in the next few years, we will wait and see
    2
  665. Great job and thanks for sharing!
    2
  666. Thanks so much! I go to Monash University in Melbourne :)
    2
  667. thank you! I've got some more deep dives on famous investors in the pipeline that I'm excited to share!
    2
  668. Fair enough :)
    2
  669. hahah thanks for watching and being a long-time subscriber!
    2
  670. What a nice compliment! Thanks for the support 😀
    2
  671. 😆 welcome back
    2
  672. thank you!
    2
  673. Thanks Sean!
    2
  674. hahah maybe he'll adopt me!
    2
  675. So nice of you to say!
    2
  676. thank you Dave!
    2
  677. Thanks for the insight Scott! I agree with you all the way, I'm not ready to make a big investment in FB.
    2
  678. Me too Thomas 👊
    2
  679. That's great, be sure to let me know how it goes for you over the next few months too!
    2
  680. :O
    2
  681. yep its really bad. I manually delete them but they come back frequently :(
    2
  682. I think you mean macrotrends.net but yes that is another good one!
    2
  683. hahah
    2
  684. Canine 7 Its on the list ✌🏻
    2
  685. Thanks for the suggestion Scott. I just counted the list and it has just passed 40 stocks, so I'm thinking I'll make a couple more videos where I talk about 10 or more stocks. Either way ABEV is on the list and I will try get to it as soon as possible!
    2
  686. Thanks again for watching Henry! Always great to have your support 😁
    2
  687. Glad you enjoyed the video Mike!
    2
  688. I've been looking into it a bit so potentially an analysis coming in the future!
    2
  689. Thanks for letting me know Scott, very interesting.
    2
  690. quickfs.net
    2
  691. Great question. So once the price reaches 50% of the value (or near that), I will make an initial position. If the stock goes up I will revalue it in 6 or so months and only increase the position if it is still 50% below its value. if it goes down, I will add to the position at -10% and then -20%.
    2
  692. You can add to the position as the stock goes up (as long as its still priced under its value) however this will reduce your overall return and often as an alternative you will be able to find a different stock to invest at a 50% or more margin of safety.
    2
  693. She will be back!
    2
  694. Thanks Theo!
    2
  695. it's a birthmark :)))
    2
  696. Thanks Henry! Yeah sure, I'm planning on doing a few more full analysis videos in the coming weeks.
    2
  697. oops
    2
  698. Thanks for watching!
    2
  699. Thank you!
    2
  700. Thanks!
    2
  701. Oops ;)
    2
  702. cheers Scott!
    2
  703. Everytime I learn something I discover 10 things I don't know. It's a constant learning process for everyone!
    2
  704. Just for you Shane ✌🏻
    2
  705. Excellent insight, and it's something I've thought about quite a lot. The vast majority of Thor's US RV sales are towable RVs, which do not have combustion engines in them. However their EU operates are mostly motorised and will have to be converted to all electric within the next few decades.
    2
  706. Really good stuff Graham! This year I'm super focused on improving myself and planning out each goal really helps me to stay consistent and keep the ball rolling.
    2
  707. You're very welcome! Are there any particular areas of investing you find most difficult?
    2
  708. Tim's Financial Prosperity Videos I started it about 6 months ago and have been improving it over time.
    2
  709. It's now in the description :)
    2
  710. Hey Matej, I share this in a portfolio update video that I posted last week!
    2
  711. one growth rate you could consider is the growth of the US RV market over time which has been about 4-5%. You'd expect that could easily achieve that because they are also in the European market
    2
  712. 😂😂
    2
  713. For sure!
    2
  714. I'm sorry!
    2
  715. Thanks for watching Tom 👊
    2
  716. Youre welcome John, thanks for watching
    2
  717. Definitely will share more on this when the new CEO is announced!
    2
  718. I don't try to play currency too much, but to mitigate the impact I try holding both USD and AUD at all times so not to be at the mercy of a bad exchange rate when a stock is cheap. I've held quite a lot of USD for a while and over the year its returned me almost 4%.
    2
  719. Personally, I dont hold any bonds in my portfolio. I hold a strictly cash and stock portfolio. I am okay with a more volatile portfolio because I have multiple decades of investment in front of me and I know that regardless of volatility, the stock market will almost certainly grow more than bonds
    2
  720. Thanks for the feedback, I need to get better at using titles on screen!
    2
  721. Correct! I am a value investor, so my strategy involves finding predictable companies that are growing consistently. Microsoft might very well perform great in the next 10 years, but without consistent historical growth, without low debt and without a growing return on capital I cant be confident in estimating their future cash flows. Thanks for the comment!
    2
  722. I saw your vid, very good analysis mate keep up the videos!
    2
  723. sure! what would you like to see?
    2
  724. The discounted cash flow included a terminal value
    2
  725. Saviraj Randhawa Thanks! This method is taught by Phil Town in his books "Rule 1# investing" and "payback time"
    2
  726. Thanks for watching :D
    2
  727. Always good to share experiences, thanks for watching!
    2
  728. Thank you! Typically I would be looking to see if the price exceeds the 'intrinsic value' cells in the discounted cash flow calculator before selling. So in other words, if the price of the business is higher than my estimation of how much cash it will return to me over its remaining life, then I would sell. But otherwise I want to mostly hold on and stockpile when it occasionally becomes cheap
    2
  729. Saviraj Randhawa Currently just trading through Commonwealth Bank with Commsec.
    2
  730. Thanks!
    2
  731. Thanks James! I try my best to get to the point quickly.
    2
  732. Wow what a nice comment!! I'll make sure my dog gets a feature in the next one :D
    2
  733. awesome! Hope it serves you well ✌🏻
    2
  734.  @msuae98  yep!
    2
  735. That sounds interesting I'll check it out!
    2
  736. Commsec international, it's an Australian broker
    2
  737. 7-8% is pretty damn good! thanks for watching :))
    2
  738. It's on my video idea list!
    2
  739. I use sharesight
    2
  740. For the first 5 years of data the Wall Street Journal often has FCF at the bottom of the cash flow statement, but for the other 5 years of data I generally just go into the individual annual reports listed on the company's Investor Relations page. I might make a video on this!
    2
  741. nice
    2
  742. Are you a Tesla shareholder? And if so, what is your thesis behind the investment?
    2
  743. Absolutely! I've heard some shocking interviews from analysts many times, and I think its quite interesting to breakdown what theyre saying and if it has any weight. Thanks for watching Garry!
    2
  744. Thanks Josiah, glad to be providing value! Any topics you'd like me to cover in a video?
    2
  745. Thanks for watching! If you have an area of investment that you find difficult then feel free to share it and I can cover that topic in a future video :D
    2
  746. Thanks for watching Adison! I talk about this in the video I just recorded but I am currently working on building a user friendly spreadsheet which you will be able to get your hands on in the near future.
    2
  747. Adison Krizmanic I also already have a video about making part of the spreadsheet here if you are interested: https://youtu.be/-ibztdjNgSU
    2
  748. senne houben I would steer clear of businesses that have a long term negative growth. There's no need to invest in businesses that aren't growing because there are so many solid businsses growing at 10-15% consistently.
    2
  749. Correct
    2
  750. Nice!
    2
  751. certainly shouldn't underestimate Red Bull, I was just quoting the CEO on the conference call about the particular ramp in advertising spending that was a reaction to Monster's price increases.
    2
  752. yeah most stocks dont meet the requirement which tells me I should be mostly in cash at this point (which I am). I've made some smaller investments with a 40-30% margin of safety but patience in waiting for that 50% margin will be rewarded in the long term.
    2
  753. Welcome aboard!
    2
  754. Hey Sean, welcome to Team Hodder✌🏻 That spreadsheet has saved me many headaches 😂😂
    2
  755. Hi Jorgy, the spreadsheet uses Google Finance data which does not have some OTC and some foreign markets. However you can try putting the exchange symbol at the front of the ticker symbol. E.g 'OTC:ABC' for an OTC stock with ticker ABC. Or ASX:ABC for an Australian stock with the ticker ABC
    2
  756. Thanks Sean! The cash is mostly in a long term savings account paying interest of 1.5%
    2
  757. Yeah it is!
    2
  758. thanks so much Brody!
    2
  759. 🤣🤣🤣
    2
  760. straight up attacked me
    2
  761. The biggest mistake you can make when investing is looking at the short-term numbers and using them to form an opinion about the long term future of a business. Thor's growth over the past 35 years has been extremely stable, with equity only declining slightly in 3 out of 35 years. If you watched the video you would have noticed that according to the modelling the buy price is $70, meaning using my strategy you would not started buying until the levels that it has been at recently. Let me give you a piece of advice that will help you in the future: The stock price movements of a company in the short term are unpredictable and irrelevant, because over the long term the stock price will reflect the underlying value of the business.
    2
  762. Ill put it on the list!
    2
  763. Thanks for watching!
    2
  764. yeah absolutely. I am essentially calculating how much cash the stock will return to me, and comparing it to what I am paying. If a stock returns $20 per year to me as a shareholder and the stock is priced at $100, thats a 20% yearly return. And the answer to the question 'how much cash does a stock return to me' is answered by calculating the future Free Cash Flows of a business.
    2
  765. It would definitely be nice to see some stocks on sale! Only time will tell 😃
    2
  766. Very true!
    2
  767. Gabriel Rangel Can be very hard but so worth it!
    2
  768. It's a yearly subscription, so you are paying now for the next 12 months and then you can decide whether to stay on for another year.
    2
  769. I'm looking to make 8-10x on the position so I would likely only sell Thor if the position was up massively. More than likely I will be holding for a very long time.
    2
  770. thanks!
    2
  771. Hahaha
    2
  772. At the moment because I am running heavy ads and have my price set low, I'm actually running at a loss. However, once the launch phase is complete I can expect about 40% of sales to be profit.
    2
  773. You're welcome Nikola!
    2
  774. Stonks
    2
  775. I wont be buying it at all actually. There's thousands of public companies and I only need to pick 10-20 over my life time so why invest in companies with question marks over their future?
    2
  776. Thanks! It is a real account but it is separate to my main portfolio. In the earlier episodes I show what stocks are in it at the moment :)
    2
  777. The 'EPS*(1+growth)^10' grows the earnings into the future so we can work out how much a company will be earning in 10 years. Then the PE part is a FUTURE PE, which could be larger or smaller than the current PE. The result is we find the future price of a stock, and then we can work out how much we are willing to pay today.
    2
  778. Thanks! Currency is one of those things I would consider important but unknowable. Since it has no cash flow, I cannot work out how different currencies will change over time.
    2
  779. 🤣🤣
    2
  780. For sure!
    2
  781. Thanks so much for sharing your insights as always Scott!
    2
  782. thanks for watching 😀
    2
  783. The greatest investor of all time.
    2
  784. Not yet!
    2
  785. Definitely!
    2
  786. Thank you so much!!
    2
  787. thanks for watching!
    2
  788. I think so too, wouldn't be surprised to see Thor below 50 sometime in the next year
    2
  789. Great work!
    2
  790. I actually have a video covering the Payback Time method, but I will do an update soon!
    2
  791. high interest savings account, although unfortunately that doesnt give you much at the moment
    2
  792. Thanks Belinda, appreciate the support :)
    2
  793. Ray Felix Absolutely! Finding a way to build an audience for the long term (eg. Blogging, Instagram, Youtube, Twitch) is the best way to make lots of passive income without alot of capital. Dividends are great but require alot of capital to see significant streams of income. Thanks for watching!
    2
  794. Thanks for the feedback!
    2
  795. Thanks for watching Jaka!
    2
  796. You miss the point of looking at a century of data. Over the 100 years there has been a trend of increased productivity driven by innovation which has made businesses more profitable. That trend will continue in the next century
    2
  797. So how short term is your mindset towards the market then Jason? because if you're looking anywhere beyond 20 years ago there wasn't even any internet companies. It's a bit of a ridiculous statement to say that just because the markets are very different to how they were in the past, that we should ignore the trend. Of course the economies are different, thats my exact point. Over very long periods of time, businesses innovate and become more productive and in the next 100 years there will be massive increases in innovation at an exponential rate. I wasn't claiming that I only buy the ASX because its done 0.2% better than the US over 100 years, I was demonstrating how you can cherry pick shorter or longer periods but ultimately it doesn't matter.
    2
  798. Interesting perspective of yours towards the end but I agree with pretty much everything you said. Thanks for the discussion and I appreciate you bringing new information and your perspective to the conversation!
    2
  799. Thanks Rene! Thought I'd try something different :D
    2
  800. Very interesting. Berkshire is an odd one for me because the management team is probably the best in the world, but the wide diversity of businesses within it mean it's difficult to completely understand the business.
    2
  801. Thanks T!
    2
  802. Jülide Blabla thanks! Greetings!
    2
  803. Any others you are interested in Nelson?
    2
  804. I'll check it out
    2
  805. Find Cash Flow For Owners for the previous year, estimate a growth rate, choose the investment return you want to target over the next 10 years, and enter those 3 numbers into the DCF tab on my spreadsheet
    2
  806. I'm honestly annoyed. I want it to go lower because I haven't finished buying 😂😂
    2
  807. Sure are Tom
    2
  808. thank u!!
    2
  809. Definitely, that's an important one too!
    2
  810. Thanks for subbing!! Welcome to the team Colin :)
    2
  811. Yep 10% is just a ball park figure, I prefer the numbers to be consistent rather than a particular number because then we can accurately estimate future growth from past growth. I get the 10% number from Phil Town in his books and its a good benchmark because if we are looking to make 15% returns then we want companies that have close to, if not 15% growth consistently.
    2
  812. Jens Ditrich hahah famous last words
    2
  813. Cheers! Definitely within the next week :)
    2
  814. Thanks Sean!
    2
  815. I appreciate the feedback! It's been great working with you :D
    2
  816. Thank you!
    2
  817. Thanks you!!
    2
  818. You are right. Thank you for the feedback
    2
  819. Glad you enjoyed this one!
    2
  820. MarkeyFromAus If you are referring to brokerage costs, yes you have to pay every time you buy more shares so it's best to buy in large amounts. If you are talking about reinvesting dividends then some companies offer a Dividend Reinvestment Plan (DRIP) where the company gives you more shares instead of paying a cash dividend. Hope this helps. The brokerage I use is Commsec.
    2
  821. Spot on Gabriel!
    2
  822. thank you!
    2
  823. You can definitely do every month or every few weeks, its just that most people would be better saving up for a couple months and investing in larger amounts to avoid regular brokerage costs. But if you can keep brokerage costs to less than 1% and still invest every week then your return will be much closer to the average over the long term
    2
  824. Check out the videos in my 4-step stock analysis playlist, they will help!
    2
  825. CommSec
    2
  826. thanks!
    2
  827. Thanks for watching!
    2
  828. Thanks for watching Damien!
    2
  829. You are a life saver! I'm not very well versed in Google Sheets and was having difficulty implementing the correct formula. Thank-You for the formula and I have made the amendments to the spreadsheet :)
    2
  830. hahah thanks for watching Shane ✌🏻
    2
  831. Ill check it out, thanks Andy
    2
  832. 😂😂
    2
  833. It's important to look at both and Ultimately the rate you choose will come down to your understanding of the business and it's industry. I usually pick a range of growth rates to find a range in which intrinsic value likely sits, rather than just doing one calculation
    2
  834. Yes, I have a DCF calculator in my free spreadsheet if you are interested: https://www.hamishhodder.com/spreadsheet
    2
  835. Yep, more Thor videos coming your way!
    2
  836. Thanks for watching Marcus :)
    2
  837. JourneyWithCerney I actually like Disney for a medium growth 5-10% over the next 10 years, however in order to get 15%+ returns, it would need to be bought at a much lower price. Check out my analysis on Disney if youre interested!
    2
  838. it depends on how you estimate their cash flow in the future but I think you can conservatively get to $90 of intrinsic value.
    2
  839. Thanks for the feedback, I'll look into that!
    2
  840. It isn't easy to evaluate a company. It takes many months or even years to understand accurately how a specific business operates and even then there are unforseen events. Plus most people let their emotions dictate their investment decisions
    2
  841. Nice job James!
    2
  842. Mostly RV companies such as Thor Industries
    2
  843. I have a video going through exactly how to access and use my spreadsheet on my channel. I made it a couple weeks ago :)
    2
  844. Thanks so much!
    2
  845. Thanks so much for sharing Scott!
    2
  846. 4pm AEDT today that video comes out! (in 3 hours)
    2
  847. Thanks for watching Scott!
    2
  848. Thanks! You are spot on. As treasuries get higher, alot of dividend investors will start to move their funds from stocks to bonds or cash. If you feel as though you are overly exposed to this happening, yes you could sell some of those shares and either keep that in cash or move into some alternative investments. I look at Australian stocks less than US stocks just because I tend to find alot more value in the latter, however alot of people have been asking for more Aussie stocks so I'll get on it!
    2
  849. I do! Got an asx stocks video coming out soon :)
    2
  850. I just use the free version :) not a silly question!
    2
  851. Its a complex one!
    2
  852. Yes CommSec allows you to hold USD. Thanks for the comment!
    2
  853. That's up to you. If you think you can completely understand all of the businesses it owns then it could make a good investment at the right price. Personally I find the diversity of businesses too difficult to thoroughly understand.
    2
  854. Yes very interesting!
    2
  855. Thanks! I'll check it out man
    2
  856. How @#$! Dare You 😂
    2
  857. I don't try to project future cash flows of businesses with negative cash flow
    2
  858. thank you so much!
    2
  859. Hey Jarod. This was just so that the two lines would be scaled for comparability. I actually divided equity by 30 million (I misspoke). If I didn't scale the equity down then the lines would be too far from each other to compare because the share price would have been in the $50-100 range and the equity figure would have been in the billions
    2
  860. Yes definitely. I do this in my full analysis towards the end but didn't include it in the YouTube video in the interest of time.
    2
  861. Agreed!
    2
  862. Well in reality it would have made about 1% but in the interest of convenience I just said 0%
    2
  863. Thanks so much! Welcome to the team :)
    2
  864. Even more reason to take the time to invest in individual companies!
    2
  865. You're very welcome!
    2
  866. Thanks James!
    2
  867. I'd be open to looking at Tesla again at that price but I would likely draw the same conclusion
    2
  868. I'll check it out!
    2
  869. Very normal end of cycle behavior. Cyclicals like RV companies falling before the rest of the market. I wouldn't be surprised to see some bargains in most other industries within the next couple years
    2
  870. Tell me about it 😑 When I get some studio lights I can move into the warmth 😂😂
    2
  871. Yeah their podcast is very informative!
    2
  872. Thanks Julian, which companies do you want to see?
    2
  873. Glad you enjoyed!
    1
  874. great video idea!
    1
  875. Hahah oh no!
    1
  876. That's awesome!
    1
  877. Thanks so much for taking the time to leave a nice comment Calvin, it's comments like this that make me love creating content. And I think you're right, there's nothing better in life than giving back to the people around you.
    1
  878. thats so nice!
    1
  879. WWHiTEWOODY COCKY TRUTH The Wall Street Journal (WSJ) has all these numbers on their website. EPS and Sales are on the income statement, Equity is at the bottom of the balance sheet and FCF is at the bottom of the cash flow statement. Sent me an email if you need further help!
    1
  880. thanks and I'll check it out
    1
  881. 😂
    1
  882. Glad you enjoyed the video! The markets have certainly had a good run (MSCI world = 13.74%pa and S&P500 = 17%pa since I started investing), so the market has contributed about half :)
    1
  883. Haha sorry! No more planes or crows in my more recent content. Thanks for subscribing :)
    1
  884. Awesome job Gali! Check out Gali on The Young Investors podcast for a full hour talking Tesla
    1
  885. I'm definitely not selling anything anytime soon! Thanks for watching
    1
  886. No worries Nelson!
    1
  887. hahah love it
    1
  888. :DD
    1
  889. Yep, I'd be surprised to not see volatility pick up over the next couple weeks
    1
  890. 🤙
    1
  891. That graph is from the full analysis report I did on Asos and is available to Learn By Example members. https://www.hamishhodder.com/free-report
    1
  892. Thanks for watching James!
    1
  893. Kanishka Monis Looked into it a while ago and I believe at the time I thought it was quite overvalued. Im going to do an analysis video on it!
    1
  894. Thanks for the comment, I appreciate it! Glad the content is helpful :)
    1
  895. Thanks for the feedback!
    1
  896. Thanks for watching, cool channel :)
    1
  897. Me too, epic interview!
    1
  898. You're welcome!
    1
  899. Hahahah
    1
  900. Its a tricky concept to grasp, glad I could help!
    1
  901. Wow thank you Michael!
    1
  902. Thank you :)
    1
  903. He sure is!
    1
  904. Thanks!
    1
  905. Thanks Ken!
    1
  906. Thank you!
    1
  907. Hi Jon, I am not sure what you mean. Do you mean a company that has a lot of cash on their balance sheet?
    1
  908. 👌
    1
  909. Thanks for watching Dan!
    1
  910. Thank you! More coming your way🎥
    1
  911. Thanks! I do not know anything about either of those industries, sorry!
    1
  912. https://youtu.be/rgTRWhuFAXc This video should be able to help you
    1
  913. I just made up a pretty basic one for the video but I track my investments through a software called Sharesight. I might actually add the pie chart to the valuation spreadsheet because alot of people have asked me that!
    1
  914. great to hear you have a strategy
    1
  915. That forward PE is based on the EPS estimate for the full 2020 financial year ($5.03) and we are at Q1 2019. The Forward PE based on 2019 financial year (next year) is 25 which is isn't bad, but still too high in my opinion. I made the mistake of not omitting the one time tax hit in their 2018 EPS (which I did for Google in their analysis), which would have made their TTM EPS approximately $4 per share and make's Microsoft attractive but on a cash flow basis (using the 10cap or owner's earnings method) it is still at least 50% overvalued.
    1
  916. I'll check it out! Just out of curiosity, what growth rate did you use in the valuation and over how many years (5 or 10?)
    1
  917. Great point! Thanks for the comment.
    1
  918. Great to hear! Thanks for watching
    1
  919. You're welcome!
    1
  920. he sure is!
    1
  921. Master of the YT algorithm
    1
  922. I'll be sure to check it out Akshay, thanks for watching 😃
    1
  923. Hey Daniel! Thanks for watching I'm glad you enjoyed!
    1
  924. The USD has been getting stronger against a number of different currencies for a number of reasons, one of which is the increasing of interest rates by the Federal Reserve. My hedge against my equities is just cash in multiple currencies, I don't like holding assets that don't produce cash flow (e.g. gold) because their price is solely dependant on how much the next person is willing to pay. And although that is also true for Cash, it is backed by the government and tends to remain stable.
    1
  925. Thanks for watching! I use Commsec because I bank with them and its easy. You could try find a broker with lower brokerage but if you are long term investing like I am you really wont be making alot of trades so an extra $5 isnt a big deal.
    1
  926. Very true Nelson!
    1
  927. pretty insane, thanks for watching!
    1
  928. the interview audio was very low quality, sorry :(
    1
  929. Always something to smile about!
    1
  930. i agree!
    1
  931. Thanks Tiago!
    1
  932. Yes sir!
    1
  933. Thank you Billy!
    1
  934. No it would not be. The free cash flow number only included cash flows from normal operations plus the purchasing of longterm assets. Changes in debt are a financing cash flow
    1
  935. Great job getting started! I've looked at Sketchers Briefly in the past, but I'll take a deeper look. Thanks for watching Nathan :)
    1
  936. Hey Nick welcome to the team! Hope the spreadsheet helps you out 👊
    1
  937. Lots of that coming this year!
    1
  938. Thank you!
    1
  939. :o
    1
  940. Thanks Nelson!
    1
  941. Thank you!
    1
  942. Thanks Viny!
    1
  943. I agree with you 100%. I am in the process of building a new set :)
    1
  944. Monster earnings update coming out on Tuesday! And thanks for the heads up, I'll have to look into that
    1
  945. Yes it could be!
    1
  946. I actually realise I made a significant error in the terminal value calculation. It should have been $800B. First I grew Google's earnings at 15% per year for 10 years: 26*(1.15)^10 = $105.2B Then I multiplied it by 10 = $1.05T Then I discounted it back to today at the 3% discount rate: $1.05T/(1.03)^10 = $800B The intrinsic value I came to should have been $1.2T based on 15% growth.
    1
  947. I have an investing platform and private community. You can learn more about it here :) https://www.hamishhodder.com
    1
  948. Thats awesome well done! 👏
    1
  949. Yes!
    1
  950. Everyone loves a bit of Warren. Thanks Tom, keep up the good work on your channel mate!
    1
  951. Thank you! You can expect a video dedicated to maintenance Capex in the next couple weeks :)
    1
  952. No worries!
    1
  953. You're welcome, thanks for watching!
    1
  954. Nice!
    1
  955. Yeah I have and it's an excellent video on the risks of value traps. I agree with him on most things except valuation. He doesn't think the acquisition will turn out to be a smart move. I don't think myself or Sven are capable of making that judgement, so I look to managements history of acquisition and they have historically made fantastic acqusions that have increased their long term cash flow, so I have faith in management but we will see.
    1
  956. You're welcome
    1
  957. hahaha I'll leave the YT drama to him and I'll continue to actually help people :D
    1
  958. Thanks for watching Peter!
    1
  959. Thanks!
    1
  960. Thanks Nelson!
    1
  961. Thanks Matthew!
    1
  962. Thanks Tristan!
    1
  963. Ray Dalio's free book on Big Debt Cycles and Security Analysis by Ben Graham. Both very dense but lots of facinating information
    1
  964. I'll put it on my list for next year, thanks!
    1
  965. Brilliant!
    1
  966. Youre very welcome Vanessa 😁
    1
  967. Thanks for watching Shannon! I get the 1 YR ROIC from MSN Money. https://www.msn.com/en-us/money/stockdetails/analysis/fi-126.1.THO.NYS
    1
  968. I use an intrinsic valuation formula based on earnings growth. I talk about the formula I use (and how to apply it) in this video if you want to check it out! https://www.youtube.com/watch?v=bwYcgeCGCk4
    1
  969. The Review Maker Thanks so much!
    1
  970. Yeah as far as I understand there are many other ways that Thor can source its raw materials and the impact of the tariffs are only significant in the short term because it takes months to build new relationships and change suppliers. A long term trade war would definitely hurt its potential but I'm still confident it can do double digit growth over a 10 year period. Thanks for sharing!
    1
  971. thanks Nelson :)
    1
  972. Thanks for watching Henry, many more coming your way!
    1
  973. Youre not wrong!
    1
  974. Sure, thanks for the feedback I appreciate it!
    1
  975. Thanks!
    1
  976. Hey Nelson ✌🏻 Thanks for watching!
    1
  977. How much are you planning on investing? because as far as I am aware, in Australia the minimum trade amount is $500.
    1
  978. Thats strange. Here it is again: https://manychat.com/l3/224598091657228
    1
  979. https://m.me/224598091657228?ref=w2265252 This is a different link and it should work. If it doesn't maybe try again later or try on a different device. Sorry for the inconvenience!
    1
  980. Awesome! Thanks for letting me know the link wasn't working for some people!
    1
  981. Thanks Susanta!
    1
  982. Thanks for watching!
    1
  983. Personal branding is where its at!
    1
  984. That's awesome! Thanks for the feedback
    1
  985. Correct, it reduces the number of pieces the company is split into, but it doesn't no increase the actual cash flows of the business which is what drives long term share price growth.
    1
  986. Thanks for watching! I would find it difficult to put a value on Telstra because their future growth is very uncertain, as compared with companies that are growing at 10-15% consistently which are more predictable.
    1
  987. You're welcome!
    1
  988. thanks! And I'll check them out.
    1
  989. Very interesting! Thanks for sharing
    1
  990. David Flori Yes Morningstar, Zacks, there are many websites that offer more data for a premium subscription.
    1
  991. Thanks for the feedback! Very glad to have you as a student in Learn By Example
    1
  992. glad you like it!
    1
  993. Hahah
    1
  994. Thanks man, I have a list of stocks I am going to analyse over the next few weeks. thanks for the suggestions Ill put them on my list✌🏻
    1
  995. Nice job!
    1
  996. Thank You! That is a great idea :) I'll put it on my list of video ideas.
    1
  997. Fantastic! Great tip Jason thanks for sharing
    1
  998. you're welcome! thanks for watching :))
    1
  999. LOL
    1
  1000. thanks!!
    1
  1001. Couldnt agree more!
    1
  1002. Glad to help!
    1
  1003. www.sharesight.com/hamishhodder
    1
  1004. Thanks Brandon!
    1
  1005. Thanks for watching Matthew!
    1
  1006. Watch my most recent video :)
    1
  1007. Hahah
    1
  1008. I just google "Disney IR" and you should be able to find the Investors Relations page for the company. In thr events calender you should be able to find the link to the replay of the webcast. If you have trouble let me know and I'll help you find it.
    1
  1009. Generally the consumer discretionary sector includes cyclical industries because they sell products people can put off buying until economic conditions improve. The automobile industry, home builders, airline industry etc.
    1
  1010. Thanks Dan!
    1
  1011. Good point!
    1
  1012. youre welcome!
    1
  1013. Welcome to Team Hodder!
    1
  1014. Yes, using the term the same way Ray Dalio does to shorthand describe how currency is being devalued
    1
  1015. Agreed
    1
  1016. Hahah honestly don't know
    1
  1017. Hey!
    1
  1018. Thanks so much Cooper Academy I really appreciate it :)
    1
  1019. thank you!!
    1
  1020. Yes you definitely wouldn't want a significant proportion of your wealth just sitting in cash. So instead of investing in the stock market I am investing in my business
    1
  1021. well you can chose to invest some money in the stock market but you need to understand that the long term return you could realistically expect to make from an investment at the current prices (for most stocks) is going to be below 8%. I would much rather have 40-60% of my money in the market, and the rest in cash so that when an opportunity to buy businesses at much lower prices arises I can take advantage of it and lift my longterm return.
    1
  1022. Thanks!
    1
  1023. https://www.hamishhodder.com/about
    1
  1024. Thanks for watching Sam :D
    1
  1025. That's very possible and if that happens it's game over for this bull market
    1
  1026. I agree!
    1
  1027. Very soon!
    1
  1028. I agree!
    1
  1029. Cheers Tristan! Appreciate it mate.
    1
  1030. Thank you!
    1
  1031. The cash a company holds per share essentially becomes yours when you buy stock of a company (although management will decide what to do with it instead of you), so it's essentially a discount to what you are paying for the company. If you pay $100 for a company that has $30 of cash, you really only paid $70.
    1
  1032. So yes
    1
  1033. Thank you!
    1
  1034. I know but thats okay, I need to take breaks for myself every now and then. I look forward to returning as well!
    1
  1035. Cheers Brandon
    1
  1036. Not a problem! If you're looking for further more personalised help then you may want to check out my website: https://www.hamishhodder.com Have a good day :)
    1
  1037. As a beginner it seemed like a safe, dividend paying company. However I do not have enough understanding of that type of business to be confident in it, which now makes it a business I shouldn't own
    1
  1038. thank you for watching and subscribing!
    1
  1039. That's a good idea! I actually planned on making a couple more about Thor, going a bit more in-depth about the reasons why I'm so bullish for the long term. If you have any other suggestions let me know :)
    1
  1040. Second link in the description if you want the spreadsheet template!
    1
  1041. Thanks, good to be back!
    1
  1042. I think you might be mistaken because I don't have Lam research in my portfolio
    1
  1043. ★SEEKING ALPHA - News & Analysis ($50 OFF - LIMITED TIME ONLY)★ ▶︎ https://www.hamishhodder.com/seekingalpha
    1
  1044. I just calculate how much cash I can get back from Thor, and based on that work out how much I am willing to pay. The cyclicality just means that the first few cash flows will likely be low and the rewarding cash flows will be in the back end of a 10 year period, hence why the stock is down big, big funds (which hold 80% of Thor's stock) can't wait multiple years because they have quarterly and yearly targets.
    1
  1045. Thanks!
    1
  1046. Thanks for the feedback!
    1
  1047. Awesome, welcome to the team!
    1
  1048. Hey Ali so glad to hear you enjoyed the video! have you checked out my YouTube Stock Portfolio series? In those videos I essentially go through my entire process from start to finish while explaining my train of thought.
    1
  1049. Thats a good idea! I have been making some changes that will be released soon :)
    1
  1050. Thanks Steve! Ahh yes I have always had trouble finding 10 years of data for australian stocks all in one place (without forking out a monthly premium). Up until this point personally I use WSJ.com for the past 5 years data and then I look through the annual reports individually for the next 5 years. I am sure there is a better way but I've put up with that just because I mostly invest in US companies anyway. I do believe Commsec offers 10 years of data but I would have to confirm that.
    1
  1051. check out quickfs.net :)
    1
  1052. Omg it's Brandon from AWC! I'm a huge fan!!!!
    1
  1053.  @NewMoneyYouTube  hahahah
    1
  1054. Glad to help Matt!
    1
  1055. Thank you! Ill put them on my list✌🏻
    1
  1056. That is fair enough! Thanks for sharing Andrew :)
    1
  1057. Very insightful! Thanks for sharing :)
    1
  1058. As for the US index, I probably will diversify into it in the future, it just isn't something I have done for the time being because a large proportion of my portfolio is in US equities and I like to keep a decent proportion in Australian denominated securities in case of a dollar crisis.
    1
  1059. In what way?
    1
  1060. I'll check now! BTW the best way to contact me and get a fast response is to message my Facebook Page or my Instagram :)
    1
  1061. Nice job!
    1
  1062. Only time will tell!
    1
  1063. Thanks Nelson, I agree!
    1
  1064. Yep! Coming out soon :)
    1
  1065. I really hope Finfluencer catches on
    1
  1066. Thank you!
    1
  1067. 😂😂
    1
  1068. Absolutely Tom!
    1
  1069. Ahhh thank you! I remembered after I finished filming, I'll cover it in the next episode!!
    1
  1070. If the ETF is giving you exposure to the whole US or Aus market then I think that's fine, maybe a combination of both.
    1
  1071. Thanks for the feedback Mark I appreciate it
    1
  1072. :hand-pink-waving:
    1
  1073. Thanks Mariana!
    1
  1074. Thank you for stopping by!
    1
  1075. I agree! Thanks for watching
    1
  1076. Good points Jon I agree, thanks for the comment!
    1
  1077. Hey Brendan, make sure you have entered in the ticket symbol in the top left corner of the 'Data Input' sheet. Yes, Learn By Example is still taking a limited number of students: https://www.hamishhodder.com/introduction
    1
  1078. Interesting! Thanks :)
    1
  1079. Thats very interesting!
    1
  1080. Thanks! I mostly tall about US stocks but I do tall about Australian stocks too :)
    1
  1081. Please do! Let me know if you have any issues
    1
  1082. Individual users using at least one platform, not counting repeats. that example would count at 1 person.
    1
  1083. Thanks Brandon!
    1
  1084. Thanks for watching Nelson!
    1
  1085. Thanks Pablo!
    1
  1086. Thanks for watching Ben!
    1
  1087. Spot on!
    1
  1088. Thanks for the feedback!
    1
  1089. That's great!
    1
  1090. correct
    1
  1091. Thanks!
    1
  1092. Thanks Gareth!
    1
  1093. Absolutely, I made that point in the video! Thanks for watching
    1
  1094. Hey Nelson thanks!
    1
  1095. 😃😃😃
    1
  1096. Fantastic!
    1
  1097. Yes unfortunately they appear faster than I can delete them alot of the time I will never ask you for money over WhatsApp!
    1
  1098. Canine 7 They are not competitors because Amat is a semiconductor manufacturer and Lam producing the semi conductor manufacturing equipment. Lam supplies AMAT with the wafer fabric for making semi conductors.
    1
  1099. Thanks Mac! You're welcome. Any specific topics or problems you'd like me to cover in a video?
    1
  1100. Yep I'm with you!
    1
  1101. This New Money guys channel is pretty cool, might have to check him out
    1
  1102. Woohoo! Thanks
    1
  1103. Its got alot of potential in its investments for sure!
    1
  1104. brandonbeavisinvesting Thanks mate!
    1
  1105. thank you!
    1
  1106. I agree! Thanks for watching
    1
  1107. But...But...Then who's Little Timmy's father?!?
    1
  1108. thanks for watching!
    1
  1109. thanks for watching!!
    1
  1110. Thanks Jurg! Essentially I just found the proportion of tax which was for bringing overseas currency back into the US (about $10B) and I divided that by the number of shares outstanding to work out the per share impact of the tax hit. Then I just added it back onto the EPS so that the EPS represented the year's performance excluding the one time tax hit.
    1
  1111. Start your 14-day free trial of Stockopedia & get a special 20% discount on any annual plan if you use this link https://stk.pe/hamishhodder or enter the promo code 'HH20' at the checkout.
    1
  1112. in the next few days hopefully!
    1
  1113. Great vid mate, I'd be all over real estate if Melbourne prices weren't ridiculous haha...I'll stick to the stock market for now.
    1
  1114. Are you an Aussie who wants to invest in US stocks for FREE? Stake Trading is an Australian online trading platform with ZERO brokerage! Sign Up and Use my referral code "hamishh895" to let them know I sent you!
    1
  1115. thanks for watching 👀
    1
  1116. Thank you!
    1
  1117. Yes it is
    1
  1118. I think you'll find that the most successful investors in fact do everything to REDUCE risk, not take on more.
    1
  1119. They're back!
    1
  1120. Thanks for watching Tom!
    1
  1121. Yeah we could be looking at a few years of just slow/no growth but hopefully either way valuations improve
    1
  1122. The Plain Bagel Congrats on 2k!
    1
  1123. Thanks for sharing Chris you make some good points. I'm curious as to what you mean by Walled Garden?
    1
  1124. Thanks Sylvia!
    1
  1125. That is true!
    1
  1126. Thanks Nick✌🏻✌🏻
    1
  1127. Thanks mate!
    1
  1128. Thanks Stephen ✌🏻
    1
  1129. I'll have a look! Thanks for sharing
    1
  1130. I suggest checking out some of my other content as you will find that predicting the future is the exact opposite of what I am doing
    1
  1131. Yeah that would definitely be a redflag and something to investigate further. Thanks for watching Henry!
    1
  1132. Berkshire Hathaway has $100b in cash and short term investments, yes, but it also has $700b total assets from the whole businesses it owns
    1
  1133. Great!
    1
  1134. No you're absolutely right that a business can grow slowly without expanding their business and have sustainable cash flows. But I am looking for a specific type of business with the strategy I teach, and by only investing in a handful of stocks that completely fit the criteria I have been able to outperform the market. That is just my approach and has worked for me, but of course others may have different strategies and this may still be a great investment. Just sharing my approach! Hope that helps explain my thought process a bit.
    1
  1135. You don't need certification to give general financial advice. In Australia you only need a licence to give Financial Produce Advice, which is advising someone to buy a specific financial product.
    1
  1136. That's great to hear! Thanks for watching
    1
  1137. Shareholder equity is Assets minus liabilities of the company (found on the balance sheet). I want this to be increasing over time
    1
  1138. 😂
    1
  1139. i dont know. outside my circle of competence
    1
  1140. Aussie Wealth Creation Can't wait for our collab in the near future ;)
    1
  1141. Nice! Difficult to find fairly valued businesses in this market.
    1
  1142. disappointing
    1
  1143. I don't know too much about Adobe's bonds, if they pay a decent coupon they could make a good investment!
    1
  1144. Glad you enjoyed it. Thanks!!
    1
  1145. I mean I'd look into it but I really only care about long term performance, not short term.
    1
  1146. Thanks so much daniel, Lets hope I can get there! Glad you are enjoying the content.
    1
  1147. Thanks for the feedback!
    1
  1148. Thanks Nic! Personally I still use Commsec as my main broker because I make trades in fairly large amounts. If youre investing 2k+ at a time then Id say commsec but if youre investing smaller amounts and want to avoid brokerage fees then Stake could be better.
    1
  1149. Thanks!!
    1
  1150. Thanks!
    1
  1151. Thanks Jesse!
    1
  1152. I have to agree with Jason. Economics has two sides: supply and demand. Limited supply is not enough for an asset to be valuable, it also needs to be in high demand.
    1
  1153. You are a legend!
    1
  1154. Hahah you're not wrong
    1
  1155. True!
    1
  1156. I'll take you up on that!
    1
  1157. Very interesting to hear from Buffett!
    1
  1158. Thanks for the feedback!
    1
  1159. It depends on a lot of things: How long is your investment horizon, what do you calculate Thor's intrinsic value to be, do you need the money in the next 5 years. When you say more upside, upside when? Before a recession, or over a 10 year period? Don't fall into the trap of thinking you can predict short term price movements. I agree Thor has more upside over the next 10 years but I don't know if or how far its downside is in the short term. If you're investing for 10+ years then it's easy, calculate the return you can make over thst period and if its high enough with a margin of safety then stay in the stock, if not then sell it. But if you're trying to time the market in the short term then youre speculating and your guess at when to sell is as good as anyone's.
    1
  1160. Igor Feldman Thanks for watching, glad youre enjoying them. I've had a bit of a look at Telstra however a couple things have kept me from looking further: (1) their earnings are fairly inconsistent and im look for businesses that have stable earnings (which makes it easy to estimate growth), and (2) I just dont know a whole lot about how the telco sector operates and I prefer to stay in my circle of competence.
    1
  1161. Very interesting, thanks for sharing. Businesses that are experiencing a short term tumble, but still have long term potential, can make great investments
    1
  1162. Sure!
    1
  1163. The investment opportunity at that rate of return will not last very long so the stock market is still necessary to grow my wealth over the long term. I run an investing platform and community. You can learn more here https://www.hamishhodder.com
    1
  1164. P Chauhan Thanks for the feedback!
    1
  1165. That would be 0 :D
    1
  1166. Thank you!!
    1
  1167. Thanks for watching Koch!
    1
  1168. Thank you!
    1
  1169. Hahah thanks, there's always that one guy who has notifications on just to dislike the video 😂😂😂
    1
  1170. Nice! Presumably economic conditions will worsen before they get better which gives us plenty of time to add shares at such a huge discount.
    1
  1171. The numbers look great and I like the business model. Might do a full video on this soon!
    1
  1172. Thank you!
    1
  1173. I think its important to at least allow for a 50% margin of safety when starting out, but if you invest in the same 4-8 companies over many years you will become better at estimating their cash flows so allowing for errors in your valuation becomes less relevant. I certainly think if you can get a stock with a 60-70% MoS that is even better!
    1
  1174. Nice entry point!
    1
  1175. Interesting perspective Chris, thanks for watching!
    1
  1176. Thanks!
    1
  1177. Lots of untapped potential!
    1
  1178. Such good entertainment as always! Keep up the high quality videos.
    1
  1179. Thanks Tye! Any particular topics you'd like to see covered?
    1
  1180.  @tyewarren5712  I can certainly make a video with my perspective and share my opinion!
    1
  1181. Thanks for the feedback, maybe I'll make that video in the future!
    1
  1182. There are US equivalents that invest your money in the s&p 500 (500 biggest companies in the US). Check out some of the index funds on the Vanguard website.
    1
  1183. I decided against it because I found the business too difficult to understand. I like to be able to completely understand all the moving parts of a business and semiconductors are highly complex so I likely won't invest in them.
    1
  1184. yes!
    1
  1185. Thank you!
    1
  1186. 🎉🎉
    1
  1187. Thanks so much! We're almost there 👊
    1
  1188. Hahah that's be an expensive giveaway
    1
  1189. Thanks for watching and sharing your view :)
    1
  1190. Thanks!!
    1
  1191. What an honour! Thanks so much Nate 👊
    1
  1192. Thanks! I have a couple videos covering that on my channel already :)
    1
  1193. I have 50% of my money in the market so..
    1
  1194. Thanks!
    1
  1195. It sure is!
    1
  1196. Thanks for watching, appreciate it :)
    1
  1197. Interesting video Graham! Really makes you think...
    1
  1198. thanks so much Jake!
    1
  1199. Thanks man! I have been amazed at the rate its growing at.
    1
  1200. Thanks!
    1
  1201. Woohoo! Thanks for watching
    1
  1202. I think that is definitely a factor, although I'm not sure how significant is it because big funds still make up the vast majority of the market and control most of the price movements. Personally I think the tariffs and rising interest rates are having a big impact on margins and is causing a lot of companies to be conservative in their 2019 guidance, and are missing Wall St expectations.
    1
  1203. Thanks!
    1
  1204. How are they funding the dividend is the key question. Are they using cash generated by the business, or are they taking on debt or reducing their cash position. I don't look for companies specifically paying a dividend because I'd rather invest in companies that keep money in the business for reinvestment.
    1
  1205. I dont buy assets that do not produce cash. I like assets that generate me cash flow even while the price is suppressed, and gold does nothing.
    1
  1206. I'll check it out. Thanks!
    1
  1207. You are awesome!
    1
  1208. I really like the host who doesn't talk about tesla every 5 minutes
    1
  1209. thanks for tuning in!
    1
  1210. Awesome! Welcome to the team ✌🏻
    1
  1211. Welcome to the team!
    1
  1212. That's great news! hope you find the information useful.
    1
  1213. Thanks!
    1
  1214. Thanks Nick!
    1
  1215. In some cases yes, they can access private deals. However, the majority of these transactions occur in the open market.
    1
  1216. No just high interest savings.
    1
  1217. Thank You!
    1
  1218. brandonbeavisinvesting Thanks mate!
    1
  1219. Thanks for watching :)
    1
  1220. Thank you! Things are slowly getting better here :)
    1
  1221. 🤣 that's a first for me lmao
    1
  1222. Unfortunately I think the spreadsheet formulas mess up if you just drag the numbers down one, so I am coming out with an updated spreadsheet later this week!
    1
  1223. That is okay :) Hope you enjoy the analysis!
    1
  1224. Thanks for watching as always :)
    1
  1225. https://www.hamishhodder.com/spreadsheet
    1
  1226. Yeah I am, guidance of slowed growth and smaller margins is inevitable in a growing company and I think the market overreacted to the news.
    1
  1227. great!
    1
  1228. Thanks Hayden!
    1
  1229. Jurg ! Thanks! Yeah I made the spreadsheet myself based off the spreadsheets Phil Town uses in his investing books.
    1
  1230. Jurg ! Absolutely! Send me an email and Ill send it to ya :)
    1
  1231. On the daily I just check google news for any big stories but other than that I just keep up to date with company press releases (on their investor relations pages) and quarterly reports.
    1
  1232. Thanks!! Lets hope its good
    1
  1233. Very true!
    1
  1234. And what happened the last time the RV market slowed down for a couple years? It recovered. Everytime. If you don't have the patience to buy through 1-3 years of negativity then you will never outperform the market.
    1
  1235. Waiting patiently!
    1
  1236. Thanks for watching!
    1
  1237. 😀😀😀
    1
  1238. No worries Luke 😎
    1
  1239. It isn't the exchange rate that matters, it's whether the exchange rate will change over time
    1
  1240. Thanks Mariana :)
    1
  1241. Good luck! I am really looking forward to making it!
    1
  1242. Thank you!
    1
  1243. Yes absolutely!
    1
  1244. it's possible! time will tell. thanks for watching :)
    1
  1245. Hey!
    1
  1246. some inflation is good as it encourages spending
    1
  1247. Thanks Ruby!
    1
  1248. Hahah great point! Thanks for the feedback 😎
    1
  1249. Cant remember YY off the top of my head but Thor is about $125
    1
  1250. Thanks for watching!
    1
  1251. but..but..what about CryptoGraham?!?
    1
  1252. Not too sure to be honest, I didn't end up having much success with FBA and ended up shutting it down to focus more on YT. If you're really passionate about launching products then I am sure you will have success with persistence but for me I just didn't have enough passion behind it to work as hard as was required.
    1
  1253. Glad you love the channel! I currently don't have a position in Apple :)
    1
  1254. Welcome to the team! Any topics you'd like to see me cover?
    1
  1255. he would have loved r/wallstreetbets
    1
  1256. woohoo! Thank you for being a long-time subscriber :))
    1
  1257. Glad we agree!
    1
  1258. Hadn't thought of that before, interesting tactic! That would be a smart move if you had no better investment opportunities elsewhere.
    1
  1259. Very true Karim!
    1
  1260. Thank you!
    1
  1261. Thanks Nelson!
    1
  1262. thank you :)
    1
  1263. Thanks for watching Brad :D
    1
  1264. More coming your way!
    1
  1265. Thanks bro 😎
    1
  1266. Ive been studying that one recently, will be a video coming soon!
    1
  1267. So glad you are enjoying the content, I appreciate the support! Have you got any topics you'd like to see me cover in a video?
    1
  1268. Thanks for sharing!
    1
  1269. Thank you for watching Tobias!
    1
  1270. You are super welcome!
    1
  1271. Thanks Bill! I'll check it out soon, if you want a full answer feel free to send me an email. Otherwise Ill respond on here.
    1
  1272. hamishwhodder@gmail.com
    1
  1273. Thanks for watching :)
    1
  1274. Yeah it is, the impression I got from his latest interview was that because he's managing so much money, he needs to just invest it somewhere even if the stocks are offering a much lower return than previously.
    1
  1275. Thanks Jurg!
    1
  1276. thanks so much!!
    1
  1277. thank you Jonathan!!
    1
  1278.  @nickowns55  it has indeed! I was about 70% stocks in parts of 2018 and up until the last few months
    1
  1279. But I'm also in a slightly unique position because i run a business that has required investment and generated a higher return than the market
    1
  1280. You're welcome Vanessa, thanks for watching!
    1
  1281. Thanks!
    1
  1282. Personally I stick to mid-large cap stocks that are profitable and have a proven business model.
    1
  1283. you can fully customise whichever markets you want access to! just remember to apply the HH20 code at checkout
    1
  1284. Thanks for watching, glad you enjoyed! Yeah 100% agree Scott, gotta just look at the fundamentals of a business and forget about what the share price is.
    1
  1285. Should only use the stock price when comparing it to the intrinsic value!
    1
  1286. Omg killer intro bro 😂😂😂
    1
  1287. We may very well see more trouble in other industries, so stick to what you know! For me, its been the restaurant industry, industrials and travel services.
    1
  1288. Hi Pedro! The facebook earnings reaction is coming out in a few hours and I haven't heard of REGI but I'll check them out!
    1
  1289. If you are coming across from the Aussie Wealth Creation YT channel, I am making an update of this video in the next week. Hit subscribe so you dont miss out!
    1
  1290. it wasnt me! 😂
    1
  1291. Thanks Michael! I appreciate the support
    1
  1292. Glad you enjoyed it!
    1
  1293. Well it depends on what your definition of fair value is. For many institutional investors their fair value is primarily a calculation of earnings in the next 24 months, which is why they are forced to sell equities when the short-term outlook is negative. But if you're definition of fair value is the cash flow received over a 10 year period, conservatively, then you can buy companies with poor short term earnings while institutional investors don't want them. The average investor is trying to buy stocks that will go up in the next 12-24 months, which is why there is an emotionally driven sell off during periods negative GDP growth, even though the businesses behind those stocks will continue to sell products when conditions improve. This is a behavioural reality and Buffett even exploited it in the real estate market, when he detailed a time he bought a property with a contract locking in a low cap rate for 5 years, but after the 5 years he was able to raise the rent and achieve a 15% rental yield. The stock market is the exact same thing, most people don't want to touch an asset with poor short-term cash flows, even if the long-term cash flows more than make up for them. Placing bets on businesses that are great and have low debt is not taking on more risk. You are buying the same great business at a lower price.
    1
  1294. thank you!
    1
  1295. Thank you! It is very fun discussing finance topics in long form.
    1
  1296. Thanks so much James! welcome to the team.
    1
  1297. Thanks Brandon!
    1
  1298. oh amazing! much appreciated Tom!! Thanks for the support :)
    1
  1299. Check out my financial statements series. I did 3 videos covering each of the major statements.
    1
  1300. if EPS is consistently negative then that isnt a company I would be confident in investing in. however, if it is a highly profitable company with one negative year, then you can take an average of the past 5 or 10 years to get your EPS number. as for equity, it will depend on the company but I dont always use the long-term equity growth rate. Often, I will come up with my own rate based on my understanding of the business and how the industry is growing.
    1
  1301. For sure, it'll be interesting to see how it unfolds
    1
  1302. hahah
    1
  1303. For sure!
    1
  1304. Maybe ;)
    1
  1305. Thanks Nelson
    1
  1306. He owns Forest River, the second largest RV manufacturer after Thor
    1
  1307. Thanks Brandon!
    1
  1308. You're confusing a businesses cost of capital with our cost of capital as an investor. Our cost of capital is the opportunities we give up in order to make this investment.
    1
  1309. Check out MorningStar's articles
    1
  1310. Sign up for The Daily Upside for free ▶︎ http://bit.ly/43yDv9D
    1
  1311. Thanks for the feedback!
    1
  1312. Thanks for the on going support Scott I really appreciate it ✌🏻
    1
  1313. Thanks for watching Cory, I certainly agree with you!
    1
  1314. P Chauhan Oi Oi Oi!
    1
  1315. mifejosef Thank you! Yeah for sure thanks for the suggestion :)
    1
  1316. Any particular stocks you want me to analyse?
    1
  1317. Very happy to have you as a student Dan!
    1
  1318. Sounds good Rick!
    1
  1319. I presume you mean NAB. That is likely what I will do in the future, but since NAB has just experienced a pretty poor year I want to hold it for quite a bit longer to see some returns before I realise them.
    1
  1320. Absolutely, glad you got some value out of the video :)
    1
  1321. Absolutely! Thanks for watching.
    1
  1322.  @Gazzapa57  hahah don't worry you're fine. I genuinely enjoy conversing with people who hold differing opinions, even if I disagree because I think both parties can always learn something. Thats a good idea for a video, I'll put it on my list :)
    1
  1323. thanks for the feedback!
    1
  1324. Thanks for watching!
    1
  1325. 🙏🙏
    1
  1326. Wow what a great comment! Thanks so much for sharing and educating me on the industry. I really look forward to these long form comments from awesome people like you✌🏻
    1
  1327. Hi Marc, I haven't looked into those businesses before so I can't give my opinion there :)
    1
  1328. Agreed!
    1
  1329. 100%
    1
  1330. quickfs.net
    1
  1331. Thank you!
    1
  1332. Hey Jake, great to hear you are getting into investing! Start out with some of my 'stock market for beginners' videos and if you have any questions just leave a comment or send me an email :)
    1
  1333. Thanks for the feedback!
    1
  1334. Sounds good to me 😎
    1
  1335. 🙏🙏
    1
  1336. Absolutely, so finding really solid companies with a strong economic moat is essential before you calculate intrinsic value. Thanks for sharing your opinion BR!
    1
  1337. hamishwhodder@gmail.com
    1
  1338. Correct
    1
  1339. Mariana Davila Woops! Its there now :)
    1
  1340. Thanks!
    1
  1341. I'm not sure what you mean by 'went to crap', I'd love for you to elaborate as I am curious about your perspective.
    1
  1342. https://quotes.wsj.com/GOOG?mod=searchresults_companyquotes Although for this video I altered it slightly. Google faced a one time tax hit so they could bring money back from offshore accounts, so I made an adjustment to the EPS so it was more representative of their performance.
    1
  1343. To do the adjustment, I rolled back the tax charge for Q4 of 2017 and then diluted the net income by shares outstanding, but I wouldn't worry about doing that because its certainly not necessary and it is easy to make a mistake and over estimate a company's performance. Just stick to using the trailing twelve months (TTM) EPS which for google currently is $23.56.
    1
  1344. Thanks so much Dario!!
    1
  1345. you are correct, not all the nifty fifty companies were blue chip
    1
  1346. no I havnt unfortunately.
    1
  1347. Thanks so much Andrew 😎
    1
  1348. 😂😁
    1
  1349. All my hair is gone again 😭😭😂
    1
  1350. Not trying to predict a crash at all. I simply know what return I can expect out of the businesses I understand and right now most are offering very poor long term returns at current prices
    1
  1351.  @B1gSt3AK  yeah I guess my mindset was it's a good title to start a conversation but I definitely should have made it more clear throughout the video that I am not 'waiting'. Also my personal situation is pretty unique as I am using a portion of that cash to invest in my business. Thanks for the feedback and I appreciate hearing your perspective!
    1
  1352. Legend Nelson 👊
    1
  1353. Because only those holding great companies, invested at appropriate prices will do fine when the market goes down
    1
  1354. Thanks Mate! Very difficult to find stocks atm.
    1
  1355. Thank you! Check out some of the videos in my '4 Step Stock Analysis' playlist for help applying some of these principles
    1
  1356. Just click the link in the description and it will give you access to the spreadsheet :)
    1
  1357. Thanks for watching Josiah!
    1
  1358. Thanks for watching!
    1
  1359. Thanks Gali!
    1
  1360. Brilliant video! Just discovered your channel Andrei.
    1
  1361. Graham Stephan Same bro
    1
  1362. First reply
    1
  1363. Hope it helps ✌🏻
    1
  1364. just aus tax as far as I know but I cant give specific tax advise so its best to speak to an accountant :)
    1
  1365. My understanding is that because its a cyclical business, if we have a recession then the stock will do really poorly in the short term (1-5 years). However I look 10 years out when I invest so for me the next few years I will just continuously add to my investment. A couple other things that will hurt the stock short term are the aluminium tariffs and demand for RVs is coming down off a couple record years. So if youre looking to making 15% on a stock in the next couple years Thor is probably not a good investment, but long term its a great business and the price tag right now is very attractive and will likely become more attractive in the short tern.
    1
  1366. Thanks for watching David!
    1
  1367. Thank you :)
    1
  1368. Thanks!
    1
  1369. thank you!
    1
  1370. Agreed!
    1
  1371. Agreed!
    1
  1372. Very useful advice! Great video Graham.
    1
  1373. I haven't included it in my portfolio videos in the past but I could do that moving forward, but since I'm only 20 I actually have about 5 times more money in my personal portfolio than in super. I'll add superannuation to my list of video ideas!
    1
  1374. hahah here it is!
    1
  1375. Thanks for watching!
    1
  1376. Very true! Not sure off the top of my head I'll have you check that one.
    1
  1377. mifejosef Thanks so much! Many more vids to come.
    1
  1378. So true!
    1
  1379. Thanks brandon ✌🏻
    1
  1380. Great video Graham! If you have a sound strategy (like the one I teach) for picking stocks and you can exercise discipline, then you can massively outperform the broader market. Index funds are great because you invest broadly, however you are also voluntarily investing in a lot of sub-par businesses.
    1
  1381. Thanks bro Ill let you know :)
    1
  1382. hahah thanks man, welcome to the team :)
    1
  1383. Hahaha thanks for watching Stephen
    1
  1384. Hedging is still investing, it's just investing in two securities with negative correlation. Thanks for sharing, who's quote is that?
    1
  1385.  @kevinehrlich6988  thanks!
    1
  1386. Thanks!
    1
  1387. Ill put it on my list!
    1
  1388. Coming out in a few hours just for you Paresh!
    1
  1389. 😂 thank you
    1
  1390. Thanks Tiago!
    1
  1391. Glad to help!
    1
  1392. Why do you think that?
    1
  1393. The difference is that I am anticipating that the company will have a different PE than it currently does. If you think the company will have the exact same PE in 10 years then you can do price * (1+growth)^10
    1
  1394. Hi Andrew, the spreadsheet is compatible with Google Sheets. Once the public sheet is open you need to click File then Save A Copy, and you will be able to edit the copy
    1
  1395. I will look into this. Thanks for letting me know
    1
  1396. check out some of the videos in my "how to invest in the stock market" playlist
    1
  1397. Great idea!
    1
  1398. Very interesting! Thanks for the insight
    1
  1399. Thanks for watching Stephen!
    1
  1400. Personally I don't use them but they can be a good way to get global diversification. Make sure if you are investing in funds that the fees are very small. Vanguards index funds only charge 0.15% so if their diversified funds have a similar fee structure then go for it!
    1
  1401. Thanks for the feedback!
    1
  1402. I agree!
    1
  1403. $176
    1
  1404. Thanks for watching!
    1
  1405. Because 4x in 5 years isn't 30% it's 22%
    1
  1406. congrats man!
    1
  1407. I misspoke :)
    1
  1408. Absolutely! Thanks for watching Josiah :)
    1
  1409. its a Discounted Cash Flow. download my free spreadsheet as it has a calculator in there for you!
    1
  1410. Thanks for watching! Churn rate and engagement (hours watched) is up over time despite continued price increases and growing competition, which to me seems to indicate that they have a pretty sticky product. With that said, clearly spending on content per subscriber addition has increased in the past couple years. So the question is whether their big investment internationally will result in more sub additions as that content accures
    1
  1411. Akshay Oka Thanks! Glad you are enjoying the videos. Yeah for sure thats a great idea!
    1
  1412. Yeah very true Tristan!
    1
  1413. Thank you!
    1
  1414. Yes...and then it crashed again in 1937
    1
  1415. Thanks Jason!
    1
  1416. Thanks!
    1
  1417. Love your content JJ! thanks for watching.
    1
  1418. Thanks for being a subscriber :)
    1
  1419. thanks!
    1
  1420. Thanks GN!
    1
  1421. I am a very strong believer in the Seneca quote 'Luck is what happens when opportunity meets preparation.' I will be discussing this on my channel in the future!
    1
  1422. Update video coming out this week!
    1
  1423. you are a legend ✌🏻 thanks for watching
    1
  1424. That's a good idea, we will try do this in the future!
    1
  1425. It sure is!
    1
  1426. You're welcome :)
    1
  1427. Conspiracy
    1
  1428. thanks for sharing the insight!
    1
  1429. I never had the quick ratio! Always Current Ratio and Debt To Equity :)
    1
  1430. Check out macrotrends, they generally have 12 years of data for that. Otherwise I use Ycharts or MSN money
    1
  1431. Not any free ones that I know of, Phil Town's Toolbox is exactly what you're looking for but it comes with a monthly fee.
    1
  1432. So true!
    1
  1433. Thanks so much!! I really appreciate it :)
    1
  1434. The best way to get alerts is to make sure you have clicked the Bell Icon next to the subscription button!
    1
  1435. You're welcome :)
    1
  1436. Missed you too Ryan!
    1
  1437. good point!
    1
  1438. Thank you! I'll check it out
    1
  1439. Mark William interesting! thanks for the opinion :)
    1
  1440. He's a genius that's for sure!
    1
  1441. You need to download version 2
    1
  1442. Me too Michael!
    1
  1443. Should be a link to the spreadsheet in the description, if not, check the description of my newer videos!
    1
  1444. Thanks!
    1
  1445. Interesting perspective. I think that it definitely makes more sense to compare Gold to cash/bonds instead of stocks because it's really a hedge against stocks in a similar way that cash and bonds are
    1
  1446. Thanks Tom!
    1
  1447. Awesome video Graham, very inspiring!
    1
  1448. thank you so much!!
    1
  1449. Thank you!
    1
  1450.  @nevilleansell1736  fantastic, I appreciate the support Neville! Do you have any specific topics you'd like to see me cover in a video?
    1
  1451. I'll check it out
    1
  1452. Not too often, but its good to occationally see what businesses successful investors are buying!
    1
  1453. Thank you! Unfortunately not. I focus on investing over the long term!
    1
  1454. Ill check it out!
    1
  1455. Some people be lazy 🤷🏻‍♂️
    1
  1456. Haven't had a thorough look at that one before, I'll put it on my list!
    1
  1457. Thanks, yeah sure I'll check it out!
    1
  1458. Wont be going there this trip but I'll be in Cambodia one day!
    1
  1459. Yes I realised that. It doesn't matter as long as all your numbers are consistent, either in thousands or millions
    1
  1460. Thanks!
    1
  1461. Yes! Those are great ones
    1
  1462. Thanks for watching!
    1
  1463. Thank you :)
    1
  1464. Glad to be helping. Well done on the year!
    1
  1465. I'll check it out :)
    1
  1466. Thanks, I'll note those ideas down!
    1
  1467. Thanks Henry!
    1
  1468. Vision To Investment Thank you! Yes I have a couple australian companies lined up in the coming weeks. You can get most of the aussie data from wsj.com. I made the spreadsheet myself and have been working to make it really user friendly so I can make it available to you guys in the near future
    1
  1469. Thanks Jake, I'll put it on my list of video ideas for the coming weeks.
    1
  1470. Thanks so much! Glad you're getting value from them.
    1
  1471. Numbers look good, haven't looked into it a whole heap. If you can establish that they have a strong economic moat it could be a good one. ROIC is great, they have very low debt and growth in sales, eps, equity and fcf looks strong!
    1
  1472. send me an email at hamishwhodder@gmail.com and I'll send it too you!
    1
  1473. Its dropping fast!
    1
  1474. Yes correct. QuickFS only shows Gross and Operating margins. It's important to look at all three: Gross, Operating, and Net Margin
    1
  1475.  @Allen-L-Canada  ahh awesome!
    1
  1476. Yes that's an excellent point. It's never really been something I spend time calculating because I don't invest in businesses that are highly leveraged (for the most part).
    1
  1477. quickfs.net
    1
  1478. Hahah I spoke about my specific returns in earlier videos so you can find what you're looking for there. As for 2018, you can see it here: https://www.hamishhodder.com/ss-landingpage
    1
  1479. yes if you were out 100% which is certainly not advisable
    1
  1480. Thanks Niral 😎😎
    1
  1481. Im not sure what Buffett would do but I usually assume that the terminal value is the current book value.
    1
  1482. Great to hear Ando!
    1
  1483. thanks for the on going support ✌🏻
    1
  1484. I misspoke, I am actually sitting on about 46% cash but that is still very high. I am investing in down positions but I am also struggling to find companies that are significantly undervalued. I'm not investing more in YY simply because it is a speculative position, and there are a number of businesses that I am interested in owning but they are overvalued and until they become undervalued I am happy to wait patiently in cash.
    1
  1485. That's so nice Ben, thank you!
    1
  1486. hahahThanks Brandon!
    1
  1487. Woohoo!
    1
  1488. 😀😀
    1
  1489. There is certainly some better deals in China if you can understand the business
    1
  1490. Thanks for watching Brandon!
    1
  1491. No worries Joshua!
    1
  1492. Thanks! I havnt looked in to 3m before Ill check them out.
    1
  1493. thank you!!
    1
  1494. Hindsight can be cruel!
    1
  1495. Good point about buy backs, I'll make a video covering them. Equity growth is just one way to begin estimating the future cash flow of a business. You should still be estimating cash flow based on your knowledge of the business as this can be used to increase equity, pay dividends or buy back stock, all which aim to return shareholder value.
    1
  1496. Check out my video on Warren Buffett's valuation method, this is the most advanced and accurate way to approach stock valuation.
    1
  1497. Hi
    1
  1498. Ayee thats awesome! Which ones?
    1
  1499. Waiting for a business to reach a reasonable price is not the same as trying to time the bottom of the market. The difference is that when businesses hit a reasonable price, I buy them even though I recognise that their prices may very well fall further in the short term.
    1
  1500. Thanks for sharing your perspective! Certainly is a business that requires BIG ongoing investment in content production, the question is how much.
    1
  1501. hahaha thanks for watching brandon✌🏻
    1
  1502. Thats great!
    1
  1503. That's a very good question. So because stocks have risen at a similar rate to EPS, we may not see stocks correct in the near term. But because companies are spending more on dividends, buybacks and interest payments on debt, they are investing less into their businesses to grow the actually cash flows. So while businesses can boost their share prices in the short term by buying back stock, that can only last so long. The long term future of a business depends on internal investments that grow the cash flows of the business.
    1
  1504. Thanks Nelson 👊
    1
  1505. Studying Corporate Finance :)
    1
  1506. Hahah thanks Ashain!
    1
  1507. Excellent!
    1
  1508. Thanks for watching!
    1
  1509. Thanks Brandon! I appreciate it man ✌🏻
    1
  1510. Thanks for the feedback, thats a good idea for a video!
    1
  1511. thanks Jon!
    1
  1512. thanks for taking the time to share your perspective! I think whatever happens we will have a very interesting stock market over the next couple years
    1
  1513. He sure does, but that is very tricky nowadays!
    1
  1514. Thanks for watching Neville :D
    1
  1515. 🤣🤣
    1
  1516. I agree, thanks!
    1
  1517.  @79adventures  😂
    1
  1518. Thanks Hugo! My most competent areas are the RV, restaurant, digital marketing, and digital media industries. My average price for Thor is $90
    1
  1519. I actually speak about this in a video coming out next week. If I am holding too much cash then I will deploy some of it into the market when stocks are only offering 7-10%, but I will always keep some cash around in the event of prices falling.
    1
  1520. You should be able to find the 5th year by going into the annual reports. You can find them on the Investor Relations page of the company website
    1
  1521. I certainly agree, the technology will have significant use cases in the future. Thanks for sharing your perspective!
    1
  1522. Good point Jason thanks for sharing! I will check out unlisted funds :)
    1
  1523. That's real interesting, I'll do some digging
    1
  1524. Thanks so much!
    1
  1525. They have about 20% of their total assets in cash.
    1
  1526. You're welcome!
    1
  1527. I'll have to make an update soon!
    1
  1528. great video bro!
    1
  1529. Brandon Beavis Investing it will be interesting to see how strongly it is adopted!
    1
  1530. Thanks for watching!
    1
  1531. haha that is true! Although based on his advise over the years this isnt really a 'Buffet style' company and he has never made a comment as to why Berkshire chose to invest in Synchrony. For retail investors like us, picking financial stocks without track record is extremely foolish because there are plenty other businesses out there that are much easier to understand and provide a strong proven track record.
    1
  1532. Thank you for watching :)
    1
  1533. maybe i will
    1
  1534. Thanks Daniel!
    1
  1535. 100% agree! thanks for watching Scott
    1
  1536. Link to my gear is in the description!
    1
  1537. Cheers Jurg! plenty more coming your way 😎
    1
  1538. Yeah will be interesting to see what happens!
    1
  1539. I have replied too all of your comments Prabu. Once again, please send me an email at hamishwhodder@gmail.com and I can help you. Otherwise I cannot help you.
    1
  1540. Thanks!
    1
  1541. Thank you! I am not very good at Google Sheets but with people like you we can make a great analysis resource 👊
    1
  1542. Agreed
    1
  1543. Thanks Gareth!
    1
  1544. Thanks Dan!
    1
  1545. Thanks!
    1
  1546. https://www.youtube.com/watch?v=hBX4sOWolLQ&t=27s
    1
  1547. Yes but the price of a business is directly correlated with how much cash it produces, and will produce in the future. So you can accurately calculate where a stocks price will conservatively be in the future
    1
  1548. Correct, but there will always be demand for companies that are making their owners money
    1
  1549. Excellent point
    1
  1550. Yes, at the moment its about 4%.
    1
  1551. ah that's great, thanks for pointing that out!
    1
  1552. No worries!
    1
  1553. Agreed! Thanks for sharing your opinion :)
    1
  1554. thanks Brandon!
    1
  1555. Thanks!
    1
  1556. Thanks!
    1
  1557. Send me an email at hamishwhodder@gmail.com and I will send you the link.
    1
  1558. Igor Feldman Very good point!
    1
  1559. Hey Stoyan, thank you so much for the detailed feedback. The past 2 months I have been very involved with my students to improve the learning environment and helping people to the best of my ability, and something I'm learning is that when you focus so much on a particular aspect of your business, it is easy to neglect other aspects. For me this has meant putting YouTube on the back burner, and comments like yours help bring some perspective to what my overall vision is, which is to help as many people as possible, not just those who can afford to work with me closely. My attention to providing value through my youtube content will be improved going into this year and I have a ton of great video ideas that I think will provide lots of value to the viewers. Thanks for watching my videos and supporting the channel, and I look forward to your continued feedback as I make some changes in the future.
    1
  1560. Hi Stefan, unfortunate currency is not my area of expertise. I simply hold USD and AUD so that I am not at the mercy of a bad exchange rate when I need to invest.
    1
  1561. Thanks for watching!
    1
  1562. thank you!!
    1
  1563. I'll chuck it on my list!
    1
  1564. The growth percentage in the valuation is the estimate for how quickly you think a company can grow its earnings. A good starting point is to look at the historical long term equity growth of a business but your accuracy in estimating the growth rate will ultimately come down to your knowledge of thr business and its industry.
    1
  1565. Thanks Ken!
    1
  1566. Yeah I reckon you're right Nick!
    1
  1567. Woohoo!
    1
  1568. Yes, although some websites use different numbers in the formula as there's no one particular way to calculate it
    1
  1569. You sir have made my day, thank you so much! Telstra is an interesting one because theyve lost their wholesale business to the NBN, in my opinion that takes away their strong economic moat. Thanks for watching.
    1
  1570. Thanks for watching Dalton!
    1
  1571. But then how will I get you to comment on the video?
    1
  1572. check out the latest spreadsheet video on my yt channel for the instructions
    1
  1573. Thank you!
    1
  1574. Yes
    1
  1575. https://www.hamishhodder.com/introduction
    1
  1576. You're welcome, thanks for watching :)
    1
  1577. Since Facebook is a growth stock it will come anywhere near a 10% cap rate anytime soon. The current Cap rate for Facebook is approximately 3.8%.
    1
  1578. Thanks nelson
    1
  1579. Glad to have you here!
    1
  1580. Yeah that'll definitely be something to watch. If their users start to go down then they'll have to grow revenue per user by 20%+ to keep growing their revenue.
    1
  1581. Thanks for watching!
    1
  1582. thanks spanner!
    1
  1583. Yeah it's very much an oligopoly
    1
  1584. I can agree with that! Some of the most lucrative investments Pabrai has done have been very out of reach for the average person
    1
  1585. Absolutely! Thanks for sharing Peter
    1
  1586. Thanks for sharing your perspective!
    1
  1587. I really love the 1000 true fans principle, it has served me well so far! Thanks for watching.
    1
  1588. no worries, hope you enjoy it!
    1
  1589. My investing style is very conservative and at the moment almost all stocks are either at or above their value in my opinion. I like Applied Materials at the current price which is why I did an analysis on it but I will work on sharing more stocks that I think are undervalued. Thanks for the feedback!
    1
  1590. Very true! The why behind their actions is super important
    1
  1591. hahah thanks for watching as always Nikola!
    1
  1592. thanks Leon!
    1
  1593. Thanks for watching :)
    1
  1594. Hi!
    1
  1595. Good to hear!
    1
  1596. I spoke about this in a video but essentially as I did more research into semi conductors I realised it was an industry well outside my circle of competence so I decided against investing.
    1
  1597. Thanks Brandon
    1
  1598. Thanks for watching!
    1
  1599. thank you for watching :))
    1
  1600. Thanks! Yeah that is definitely not a good sign 🤔
    1
  1601. Hey! Glad you are enjoying the videos :) I haven't heard of that specific ETF but as long as it gives you broad diversification then I'm sure its fine. Personally I stick to the traditional ETFs which track the entire US or AUS market, because that way I am simply betting on the growth of the economy.
    1
  1602. https://www.youtube.com/watch?v=jjWbaUHCqO4&t=1s
    1
  1603. thanks for the feedback :)
    1
  1604. Get 25% off Blinkist premium and enjoy 2 memberships for the price of 1! Start your 7-day free trial by clicking here: https://www.blinkist.com/hamishhodder
    1
  1605. Hahah
    1
  1606. Very true!
    1
  1607. Thanks!!
    1
  1608. Thanks Joshua! I hope it keeps falling 👊
    1
  1609. Thanks so much Jack
    1
  1610. I don't invest this way personally. When I pick individual companies I am never rebalancing (selling strong performers and buying weak performers) just for the sake of rebalancing. If a great stock goes up alot but its still a great company and not overly expensive then I am going to let it keep growing
    1
  1611. Woohoo!
    1
  1612. Awesome thanks Henry!
    1
  1613. Thanks Mark. What did you buy?
    1
  1614. Fantastic, thanks for sharing Vinnie!
    1
  1615. Thanks for watching, I appreciate the comment :D
    1
  1616. Thanks for watching!
    1
  1617. Thanks!
    1
  1618. Glad to hear!
    1
  1619. thanks legend!
    1
  1620. Welcome to the team! Yeah it is very arbitrary however I mostly use it as a guide rather than a set "buy" price. I'll start buying a business anywhere near 40-60% margin of safety, just as long as there is a significant barrier between my fair value estimate and the price I am buying at.
    1
  1621. A fair amount of my research comes from reading annual reports. There is a lot of detail in there about the businesses strategy.
    1
  1622. Thanks for watching :)
    1
  1623. The exchange sure can swing along away in a short time!
    1
  1624. Correct, it would have been a bad investment to buy at the top. But after a significant drop in price, it's fairly comparable to the amount of cash they could produce over the next 10 years
    1
  1625. That is correct. They purchased assets from Dominion energy such as gas pipelines, rather than buying ownership in the company
    1
  1626. Thanks!
    1
  1627. You're welcome!
    1
  1628. Thanks Henry :)
    1
  1629. for sure!
    1
  1630. You're welcome!
    1
  1631. Welcome to the team! and thanks for sharing your perspective, I also think Chinese growth stocks have been unfavorably hurt recently.
    1
  1632. Thank You!
    1
  1633. Ikea :)
    1
  1634. Yeah I certainly find it interesting but seems like a difficult trend to predict consistently
    1
  1635. That is the range you would start buying, if those growth rates were accurate, and if your target return was 15%
    1
  1636. If Thor just goes up from here I'll likely just hold the position unless it becomes significantly overvalued. Since I plan on being a Thor investor for 10-20 years I will just wait for the next time it drops below its value to add more to the position.
    1
  1637. There is no PE multiple applied. It's a sum (addition) of all the future cash flows added together to get the buy price
    1
  1638. We are!!
    1
  1639. I'm so happy you found my channel 😁 Hope you stick around!
    1
  1640. In this expensive market, Buffett still has $700b of assets invested in whole businesses he owns. $100b is a big number but it's not the number that matters, it's the percentage. The vast vast vast majority of Berkshire Hathaway is invested in stocks or soley owned businesses
    1
  1641. You got it Ignor!
    1
  1642. Because we want maintenance capex, not total capex. Total capex includes cash spend on growing the business which increases value for shareholders. We want to know the total amount of cash returned to shareholders during a particular year which means we want to exclude growth capex from the calculation.
    1
  1643. Thanks Robert!
    1
  1644. That's so kind of you to say! I appreciate the support
    1
  1645. Yeah the ad is very creative, I'll give them that!
    1
  1646. Yeah I'm keen to see where it goes over the next few months. Thanks for watching!
    1
  1647. anytime Lerojo!
    1
  1648. Thanks Alex!
    1
  1649. Thanks nelson
    1
  1650. Thanks Tom, appreciate it :)
    1
  1651. Sign up for The Daily Upside for free ▶︎https://www.thedailyupside.com/welcome/?utm_source=HammishHodder6&utm_medium=YouTube
    1
  1652. Thanks for the feedback!
    1
  1653. Thanks so much I really appreciate it! and thats for the tip, I will do that!
    1
  1654. GadHanna Keeping that confidential for now! Definitely one of the more popular categories though.
    1
  1655. haha same here, its a skill that takes a lot of refining over time.
    1
  1656. Thank you!
    1
  1657. Thank you!
    1
  1658. Thanks Josh!
    1
  1659. Thanks Sujon!!
    1
  1660. that is very true! Thanks for sharing :)
    1
  1661. Thanks! I'm not aware of one because I don't look into UK companies unfortunately. Sorry!
    1
  1662. This video has been sponsored and approved by Aura. Stop data brokers from exposing your information. Go to my sponsor https://aura.com/hamishhodder to get a 14-day free trial and see if your personal information has been compromised
    1
  1663. Check out some of my other videos on intrinsic value!
    1
  1664. Thanks for watching :)
    1
  1665. Welcome to the team! Any specific types of videos you'd like to see on the channel?
    1
  1666. Ah awesome, I'll take that into consideration!
    1
  1667. Special thanks to Stephen for doing this interview on my channel! If you want to Subscribe to Spicer Capital you can here: http://bit.ly/SpicerCapital and I also recommend checking out my interview on his channel here: http://bit.ly/HamishSpicer
    1
  1668. https://www.youtube.com/watch?v=faoXJ13t8Mo
    1
  1669. thanks!
    1
  1670. thank you Andre! hello from Australia 🇦🇺
    1
  1671. Me too! You're welcome :)
    1
  1672. Thanks Brandon!!
    1
  1673. I agree! seems to be the trend.
    1
  1674. Fantastic, I will check that one out Eric!
    1
  1675. Thanks for sharing your perspective!
    1
  1676. Happy Birthday Jarrod!
    1
  1677. Hahah I noticed that, amazing...
    1
  1678. Thanks John! I'll put it on my list!
    1
  1679. :D
    1
  1680. I agree, this was one of my first videos and it lacks ALOT of elements I have spoken about in depth in my more recent videos. The most important point I miss here is that you need to have a complete understanding of the business before you can even attempt to estimate its future growth. I sincerely appreciate the feedback because I want to make my analysis and explanations and helpful as possible.
    1
  1681. You're welcome!
    1
  1682. Thanks!
    1
  1683. Thanks for tuning in Dario!
    1
  1684. I think Phil's stuff is fantastic for getting started. In terms of valuation, I think he has attempted to simplify the process so that it is accessible to the mass market, where as I am more interested in valuing a business in the most raw way possible which is ultimately to find the total amount of cash flows
    1
  1685. I agree, thanks for sharing your insights Matt.
    1
  1686. I spoke about JD in my stock picks for july video. When youre dealing with new growth companies like JD it is almost impossible to accurately predict where the business is going in the future. For this reason I would not try to value the business, but rather if you want to invest just make a small investment (speculative position) and be comfortable with the possibility that you could lose it all.
    1
  1687. Ju e Fabio Thanks so much I hope it helps :)
    1
  1688. Thanks for watching Mariana!
    1
  1689. awesome!
    1
  1690. Its almost certainly going to be an imperfective recovery
    1
  1691. Thank you!!
    1
  1692. Update video coming out this week!
    1
  1693. Thanks Michael :D
    1
  1694. You legend! Thanks for watching ✌🏻
    1
  1695. Thanks Nelson!
    1
  1696. Yes, the federal funds rate (set by the federal reserve) is 0-0.25% currently
    1
  1697. This is epic. Just discovered your channel!
    1
  1698. Hey Steven, you can use a website such as cagrcalculator.net but even easier is to download my free spreadsheet that does all the work for you! https://www.hamishhodder.com/spreadsheet
    1
  1699. Winners being announced on Tuesday!
    1
  1700. very interesting!
    1
  1701. Thanks! Definitely agree here, I will be doing a multi-year performance update at the end of the year :)
    1
  1702. Thanks Nelson, I think its a great way of visualising my portfolio!
    1
  1703. Thanks for watching!
    1
  1704. Thank you!
    1
  1705. 😂
    1
  1706. Thanks!
    1
  1707. Thank you! Cheers for the suggestions I will look into them ✌🏻
    1
  1708. Couldn't agree more!
    1
  1709. You're welcome!
    1
  1710. Thanks so much Scott!
    1
  1711. I will be covering this in my next video!
    1
  1712. Adison Krizmanic Thank you!
    1
  1713. T GN Thanks so much!
    1
  1714. My email is: hamish@hamishhodder.com
    1
  1715. Thanks Chip!
    1
  1716. Thanks Nelson!
    1
  1717. Happy new year Nelson!
    1
  1718. Youre welcome!
    1
  1719. Thanks for the feedback! Maybe I'll make a few episodes a bit longer.
    1
  1720. Definitely! Thanks for stopping by :)
    1
  1721. yup
    1
  1722. instagram @hamish_hodder
    1
  1723. Sure! In the mean time there are a few videos throughout my channel which show how to use the spreadsheet :)
    1
  1724. $100B in cash, $700B total assets invested in businesses berkshire owns. Yes he has cash, but he has far more of his wealth invested in businesses that generate cash flow.
    1
  1725. Youre welcome!
    1
  1726. Thanks for watching!
    1
  1727. in an ideal world inflation would be constantly 0%, but if the Fed aims for 0% they risk the rate dipping into deflation. So targeting (and causing) 1-3% is a necessary evil to keep the economy moving forward.
    1
  1728. You're welcome :)
    1
  1729. I use Adobe Premiere Pro!
    1
  1730. Awesome video as usual!
    1
  1731. Thanks!
    1
  1732. Thanks for watching Damien!
    1
  1733. Whale Wisdom is great! I use both :)
    1
  1734. Thanks for watching! hope you stick around ✌🏻
    1
  1735. That is the part that you will develop over time. I will try cover some topics like that in the fututr
    1
  1736. That's awesome!
    1
  1737. No new equipment actually, just rearranged the lighting!
    1
  1738. Thanks Leanne!
    1
  1739. Interesting perspective, thanks for taking the time to share Larry. Trump is certainly having an effect on the markets while he's in office
    1
  1740. If you check out my portfolio update video from a couple months ago, I go through everything! No problem, hopefully we can connect in the future :)
    1
  1741. Definitely overvalued and most stocks are at or above their fair value. As I've mentioned a few times throughout the series, in my personal portfolio I am MUCH more conservative and am really not buying any equities at the current levels (besides Thor industries).
    1
  1742. In my personal portfolio I have reduced my equity position substantially as I am sitting on 50% cash. The portfolio in this series is from the point of view of a beginner just getting into the market. The portfolio itself is less important to new investors than the lessons on security selection but I understand if youre confused because you really need to watch the entire series :)
    1
  1743. thanks!
    1
  1744. Thanks for the feedback!
    1
  1745. Thats great to hear! Any specific topics you'd like to see me cover?
    1
  1746. Absolutely Liam!
    1
  1747. Thanks Robert!
    1
  1748. 😂😂😂
    1
  1749. 😂😂
    1
  1750. Interesting... I will have to look into that!
    1
  1751. You're very welcome!
    1
  1752.  @MW-vg9dn  If you have an opposing view I would love to discuss it :)
    1
  1753. taxes are already taken into account in the Operating Cash Flow figure!
    1
  1754. Igor Feldman thanks for sharing opinion!
    1
  1755. Yes I will do this in the future :)
    1
  1756. I'll check it out!
    1
  1757. You're welcome Nikola!
    1
  1758. Yes definitely if you sat 100% out of the market. Of course if someone is heavily in cash then they'd be better off buying great businesses at slightly higher prices (and accepting a lesser return), while still holding some cash in the event that stocks come down and offer a higher return.
    1
  1759. :o
    1
  1760. Hey Chris, great to see you starting a channel. Just keep it consistent and always step it up a level and you'll grow fast.
    1
  1761. Thanks Nelson!
    1
  1762. Glad you enjoyed it Richard!
    1
  1763. Yep I agree with your bit on net debt, I just personally stay away from those types of companies because the debt factor does make it riskier relative to a company with zero debt
    1
  1764. Yep!
    1
  1765. Alot of confusing wall street jaron is used in these interviews so its good to break it all down! Thanks for watching Nelson :)
    1
  1766. I agree completely! Thanks for listening.
    1
  1767. I believe in Australia the minimum investment at most brokers is $500, but there are some smaller brokers who would offer smaller trading amounts such as Stake Trading.
    1
  1768. Coming right up Scott
    1
  1769. Thanks for the perspective Mike!
    1
  1770. I'll check those out, thanks for the suggestion!
    1
  1771. I provided some models at the end of the video :)
    1
  1772. Thanks for watching!
    1
  1773. thanks David, Ill put it on my list :)
    1
  1774. Thanks Nelson
    1
  1775. They could be useful but it will depend on what discount rates they are using and what growth rates they apply to earnings
    1
  1776. Thanks Brandon!
    1
  1777. I'll check it out, welcome!
    1
  1778. Thanks John!
    1
  1779. Happy Birthday Dan!
    1
  1780. Good from you Stu.
    1
  1781. :(
    1
  1782. Buffett has said that his method is to estimate the total amount of cash that a business will return to shareholders over its remaining life, discounted appropriately. This method is the common interpretation of what Buffett says he does.
    1
  1783. Absolutely!
    1
  1784. hahah thanks for watching Tom!
    1
  1785. hahaha
    1
  1786. Thanks John!
    1
  1787. thanks david, the release date was genuinely a coincidence, i had planned to release it last week initially. the performance % was before the Netflix increase
    1
  1788. It's set up automatically through messenger. Just email me and I will send it directly to you
    1
  1789. Thanks for watching Matthew!
    1
  1790. 🙏🙏 legend
    1
  1791. Thanks for the feedback :)
    1
  1792. Hahah
    1
  1793. Youre welcome!
    1
  1794. Interesting, will have to have a deeper look! Thanks for watching Nick :)
    1
  1795. It sure is!
    1
  1796. Canine 7 Theyre on my list
    1
  1797. I managed to recover it! Itll be available to VIPs today and public tomorrow :)
    1
  1798. Thanks Tom!
    1
  1799. Allun Waller Glad youre enjoying the videos! The good news is you have done the valuation correctly. If Telstra grows its earnings at 3% per year for 10 years, their earnings in 10 years will be around 44c. The reason the buy price is so low, is because we are demanding a 15% return. In order to find stocks that will ensure that return, the stocks either need to be growing fast (10-20% growth) and/or need to have a low PE ratio. Unfortunately telstra isnt a stock thats expected to grow much at all so if we were to see 15% returns it would need to be bought with a very low PE. If you want more detailed help send me a message on twitter or email me and I'll be able to help you a bit more.
    1
  1800. Allun Waller No particular reason, I just mostly look at stocks on the US markets. Commsec numbers would be fine!
    1
  1801. Thanks!
    1
  1802. I'm excited to see how it goes!
    1
  1803. I agree!
    1
  1804. thanks for watching Marcus, I'll check it out!
    1
  1805. I actually did a full video on Tesla a while back called 'Will I Invest In Tesla'
    1
  1806. For sure! In the meantime I have a DCF calculator on my free spreadsheet
    1
  1807.  @dheerenraj  https://www.hamishhodder.com/spreadsheet
    1
  1808. Yes I assess buybacks when I am assessing the effectiveness of management. I am looking for a management who is consistently earning a high return on capital. If a company is buying their own stock when it's undervalued then that creates value for shareholders.
    1
  1809. Thank you!
    1
  1810. thats a great idea Tiago!
    1
  1811. that is true!
    1
  1812. Sign up for The Daily Upside for free ▶︎ https://bit.ly/3S2Emea
    1
  1813. Fantastic!
    1
  1814. Thanks Ryan!
    1
  1815. Thanks! $90/s
    1
  1816. Thanks for watching!
    1
  1817. Thanks for watching!
    1
  1818. Thanks Mark!
    1
  1819. Nice!
    1
  1820. thanks :D
    1
  1821. Epic, I'll check out your site!
    1
  1822. Thanks James! I try my best to get to the point quickly.
    1
  1823. Thanks for watching!
    1
  1824. Thanks, I work really hard to provide the best information :) Cyclicals are trading very low rn, its all about finding which ones will outperform long term and which ones will fail during a recession
    1
  1825. I'll check it out, thanks for watching!
    1
  1826. no problem!
    1
  1827. Yes I apologize, I made some mistakes with the numbers as I took the screen shots on different days to when I recorded the video. will fix this in the future
    1
  1828. Thanks Marc!
    1
  1829. Yes! In the meantime, I have videos covering both of those statements on my channel from 2019. They are in the 'Financial Statement Analysis' playlist
    1
  1830. I agree AMAT looks very interesting at the moment!
    1
  1831. Thanks so much Island Girl!!
    1
  1832. I'll be keeping an eye on Visa!
    1
  1833. I don't do any technical analysis so I don't use chart software at all. I just analyse the fundamentals
    1
  1834. Hey Ranit! Glad you are enjoying the videos :)
    1
  1835. Thanks!
    1
  1836. Thanks! Ill put them on my list, Kogan has been requested by a few people ✌🏻
    1
  1837. I think you're spot on about people using multiple services in the future! Cheers for sharing your opinion Julian ✌🏻
    1
  1838. Fair enough, I also have some small speculative positions. Thanks for sharing!
    1
  1839. Thanks Nick!
    1
  1840. I'll put it on the list! Thanks for watching
    1
  1841. It can take some time to wrap your head around it for sure! I recommend starting at the beginning of the '4 Step Stock Analysis' playlist on my channel for some more tutorial based content!
    1
  1842. hey that's me!
    1
  1843. No worries!
    1
  1844. Thanks for watching Nelson :D
    1
  1845. Love these videos Graham!
    1
  1846. Thank you, I appreciate the feedback :)
    1
  1847. I agree, thanks for watching Scott!
    1
  1848. I do not
    1
  1849. I'll be bringing them out monthly now :)
    1
  1850. Thanks!
    1
  1851. Sure do!
    1
  1852. That's great to hear Jack!
    1
  1853. They have a paid plan or a free plan. Just use the free plan :)
    1
  1854. Thanks for subscribing!
    1
  1855. Thanks and Happy new year!
    1
  1856. Thanks :)
    1
  1857. Wow what a compliment! Thanks for watching Aaron :)
    1
  1858. It works. You need Facebook messenger
    1
  1859. Correct, but if a manufacturer selling 10 million cars is valued at under $200b, we should expect that Tesla would need to be close to making that many cars in 10 years if it's going to have a $200b+ market cap.
    1
  1860. Glad you enjoyed it!
    1
  1861. thanks for watching! appreciate the feedback 😊
    1
  1862. Thanks Nelson!
    1
  1863. I'm looking!
    1
  1864. thank you Jake!!
    1
  1865. Thanks for watching :)
    1
  1866. Thank you!
    1
  1867. I did, operating cash flow takes net income and adds back non-cash charges such as depreciation.
    1
  1868. Oops, my bad! Here it is: https://youtu.be/Pp4CvjNw-9Y
    1
  1869. Out tomorrow!
    1
  1870. Yeah absolutely!
    1
  1871. Thanks for watching :)
    1
  1872. https://www.hamishhodder.com/spreadsheet
    1
  1873. Thanks :)
    1
  1874. Thanks! Yes I am :)
    1
  1875. Which fundamentals? Because a business can be fantastic in terms of management and return on capital, but if you're paying $100 to get $90 back over 10 years then no you shouldn't buy the dip.
    1
  1876. So glad you're learning!
    1
  1877. Thanks for the questions Tracy! Firstly, the variation in EPS from website to website is likely due to whether they are displaying the EPS from the last annual report, or the EPS from the previous 4 quarters. If in doubt, just go to the investor relations page on the company's website and you should be able to find the last 4 quarterly reports (or last 2 half yearly) and add together to get your trailing twelve months EPS. There are also other things such as earnings dilution which can make it vary from site to site, my advice would be to use information from yahoo finance, WSJ or directly from the company website. As for if the EPS is negative, this generally isn't a problem for me because I only invest in highly profitable businesses. I wouldn't say never invest in a company with negative earnings, however I would not even attempt to value the business because it is far too difficult to estimate where a business is going unless it has strong and consistent earnings power behind it. Hope this answers your questions!
    1
  1878. Thanks Nikola!
    1
  1879. You're welcome!
    1
  1880. I'm using a owners earnings number of approximately $330-440 million which is approx $6-8 per share
    1
  1881. same here!
    1
  1882. Australian financial regulations :)
    1
  1883. Thanks so much!
    1
  1884. Thanks for watching, I made a video a couple months ago about reasons to sell a stock :)
    1
  1885. hahahah
    1
  1886. Cheers Tristan!
    1
  1887. Hey Richard glad you came across from Sven, his analytical process is really impressive. Hope you stick around and I welcome any critical feedback!
    1
  1888. Thank you!
    1
  1889. Thanks Andrew!!
    1
  1890. hahah I'll try!!
    1
  1891. I've done the same before!
    1
  1892. Yes revenue
    1
  1893. Thanks for watching :)
    1
  1894. Welcome aboard!
    1
  1895. youre welcome Marcela!
    1
  1896. Of course they are going to grow with growth capex, you're misunderstanding the point of owners earnings. It's a figure that represents how much cash is returned to owners. That cash is then used to invest (growth cap ex increasing equity for shareholders), paid to shareholders as a dividend, or kept as cash (increasing equity for shareholders)
    1
  1897. No the discount rate should be OUR cost of capital, as an investor. That cost is the opportunity cost of not buying a risk free government bond.
    1
  1898. You may use a different method but this is the method used by Warren Buffett, which is the point of the video.
    1
  1899. Yes absolutely, check out international trading with any of the 4 major banks. CommSec and NAB offer the best deal out of the big 4
    1
  1900. Production wise it is certainly well made!
    1
  1901. We will put it in the next episode, thanks for the question!
    1
  1902. Check out my latest video on them! Posted a couple weeks ago
    1
  1903. Thanks Dennis!
    1
  1904. yeah your right, I should have excluded the one time tax hit.
    1
  1905. What a response! Thanks Kanishka, I genuinely like being challenged because it is always good to assume the person you're engaging with might know something you don't. I don't actually think we'd disagree too much, because as I try to explain in these videos is that I am just demonstrating what my models indicated based on an EXAMPLE of a growth estimate, which may or may not be accurate because I haven't done tens of hours of research into these companies (except the ones in my portfolio of course). I am curious as to how you value a particular business. Do you do a cash flow analysis or use relative measures? I'm also curious as to what year you started investing. If you want to discuss this further send me an email at hamishwhodder@gmail.com or just reply here.
    1
  1906. sounds good Nelson!
    1
  1907. Tough business to value accurately if you dont completely understand the industry. Personally I wouldnt be confident in predicting an accurate growth rate for Nvidia until I learnt more about it.
    1
  1908. No worries Nelson
    1
  1909. Yes you can...however when calculating the buy price I am generally using a discount rate of 15-22%
    1
  1910. Hi Ankit! Thanks for stopping by :)
    1
  1911. thank you!!
    1
  1912. thanks for sharing your insights!
    1
  1913. Thanks!
    1
  1914. 🤣🤣 you got me
    1
  1915. Glad I'm not the only one!
    1
  1916. thanks hugo!
    1
  1917. That is true, and is effective if the stock's price is below its value. However having a DRIP when the stock is at or above its value will reinvest your money at a less than optimal price.
    1
  1918. Thanks for watching Gareth!
    1
  1919. thank you!!
    1
  1920. yes but Google is less reliant on website tracking so its likely Meta's ad performance would be affected to a greater extent
    1
  1921. I do... every year... and I just posted my latest returns...and there's a playlist on my channel so you can watch them all....
    1
  1922. I would not want to be the person trying to predict short-term moments!
    1
  1923. Thanks Nelson!
    1
  1924. Awesome to hear David! I think you're right, I'm looking at $40/s for my next investment.
    1
  1925. Woohoo!
    1
  1926. Thanks for watching!
    1
  1927. Thanks Nelson!
    1
  1928. Cheers Scott, thanks for watching :)
    1
  1929. Why risk your money in crypto when there are investments in equities that almost guarantee (at the right price) that you compound your wealth at 4-8X a decade.
    1
  1930. Yes that'd be epic!
    1
  1931. Coming your way Nelson!
    1
  1932. fair enough! I will likely do this at the end or middle of the year :)
    1
  1933. Yeah you're right to be more accurate, using the TTM adjusted EPS would make sense, but for the convenience of time I was just using the 2017 as an estimate to be quick. Thanks for bringing that point up. You might think $480 is ridiculous but its really not if you understand my investing style. I only want to invest in companies that will at a minimum give me a 15% return, and that means using very conservative growth estimates and a margin of safety. Will google grow faster than that? Probably, but I'm not interested in 'probably', I want a sure thing and there will be a time where stocks like Google will have low valuations and I don't think now is that time.
    1
  1934. It was intentional :)
    1
  1935. $90
    1
  1936.  @delay256  I haven't released this to my channel yet but if you're super keen on Thor coverage then you can get my full thoughts in a free 1 hour presentation I did for my new investing platform. Www.hamishhodder.com/introduction
    1
  1937. Hey Nelson ✌🏻
    1
  1938. Great point, thanks for watching!
    1
  1939. Thank you Mariana!
    1
  1940. Thanks T!
    1
  1941. I don't see how past price is a good indicator of future price.
    1
  1942. Thank you!
    1
  1943. Cheers Brandon!
    1
  1944. welcome to the team!
    1
  1945. Hahah I'll check it out. Thanks for the free advertising Millennial Investor ;)
    1
  1946. Welcome to the team!
    1
  1947. Thanks for sharing, I think you're spot on!
    1
  1948. You rock Bobby!
    1
  1949. I'll check it out!
    1
  1950. That is very true! WM certainly have a great economic moat.
    1
  1951. Glad its providing some value! There are many other tabs I will be adding to it in the future :)
    1
  1952. thank you!
    1
  1953. Just long term :)
    1
  1954. Check out the 'My Investment Portfolio' playlist on my channel. Every 6 months I report my portfolio's returns :)
    1
  1955. Glad it was helpful! Thanks for watching
    1
  1956. Thanks Erick! Seems like a popular one .
    1
  1957. Thank you Nick! Glad youre enjoying :)
    1
  1958. The Monk Way - Stock Market Videos No worries! Yeah its a good community, hoping to increase my presence here over the next couple years!
    1
  1959. https://www.hamishhodder.com/spreadsheet
    1
  1960. There is a free plan and a paid plan.
    1
  1961. Thank you!!
    1
  1962. hahah very loose use of the word only there. Thanks Ivan!
    1
  1963. Check out the video I linked in the description but essentially I am trying to understand how the business works at the very core level. So what products they sell, how they sell them, who supplies them materials, who manufacturers, what risks are involved with thw industry etc.
    1
  1964. it sure is!
    1
  1965. Sounds like a good strategy
    1
  1966. Fantastic! Glad to have helped you Aaron :D
    1
  1967. I use the wall street journal for the last 5 years of data, and then I just go through annual reports for the other 5. I haven't found a free resource that provides 10 years of Australian stock data unfortunately.
    1
  1968. Thanks Henry!
    1
  1969. Thanks Nelson. I had never thought about it too much either until recently, which is exactly why its important to consistently learn about different perspectives!
    1
  1970. Thanks for watching! I'll be sure to go deeper into Roper Tech and I will check out those other picks 😎
    1
  1971. Thanks for watching!
    1
  1972. George Leslie The course is very good but I'm not entirely convinced the strategy taught in it still works. Considering the price has been increased a lot since I bought it, there's probably some cheaper courses out there that provide just as much or more value.
    1
  1973. Having a course is definitely super helpful though, there are a lot of things to know and it would have been very difficult working it all out on my own.
    1
  1974. Sounds great!
    1
  1975. Thanks Daniel!
    1
  1976. Very true, not too many stocks look attractive enough for me at the moment.
    1
  1977. because those choices are both correlated with the market, which is precisely what I am trying to avoid. My 40% cash position is a bet AGAINST the market, so that if there is a significant drop, I can buy alot of businesses at 30-50% off.
    1
  1978. Thanks for watching!
    1
  1979. Thanks!
    1
  1980. Thanks! On the credit card point: Visa and MasterCard simply provide the network for facilitating debit and credit transactions between banks. It's actually the banks that are lending money and earning interest from credit card holders (except in the case of AMEX which does lend money like a bank). But either way, I agree that you should invest your money in businesses that have values aligned with yours!
    1
  1981. Agreed
    1
  1982. Youre welcome!
    1
  1983. Awesome!
    1
  1984. youre welcome!
    1
  1985. probably some real estate investors who think there's no such thing as a 'wedge' deal in the stock market.
    1
  1986. Definitely!
    1
  1987. This is super important for people to understand, value value value. Thanks MM.
    1
  1988. youre welcome Joseph!
    1
  1989. So kind of you to say!
    1
  1990. Woohoo!
    1
  1991.  @NickKendall  thanks Nick! Glad you love the content.
    1
  1992. :o
    1
  1993. Swing trading isnt something I try to do just because I hold the belief that markets can be wildly irrational in the short term. There are however people who are able to successfully swing trade, I am just not one of them :)
    1
  1994. Yep!
    1
  1995. Discounted Cash Flow
    1
  1996. Thanks for watching, always love hearing your opinion!
    1
  1997. Hahah
    1
  1998. That market share makes a strong competitive advantage. I love the company!
    1
  1999. Make sure you've entered in the ticker symbol of the stock in the top left corner of the Data Input tab. If its a stock outside of the US you need to add the stock exchange code (e.g. NAB on the Australian market would be written as 'ASX:NAB')
    1
  2000. Good point!
    1
  2001. Thanks Jason!
    1
  2002. Yeah I do! Great idea, I'll make a tutorial next week :)
    1
  2003. Thats awesome!
    1
  2004. Thanks Tom!
    1
  2005. Yeah I am with you there!
    1
  2006. Not a problem Leigh! I'll put it on my list :)
    1
  2007. It is certainly hated by the market right now! Most of the stock I purchased was at a price between $50-60 per share, although the position is still down substantially due to earlier investments. My thoughts on the company long-term are still the same. The industry is suffering which is impacting all RV companies and that coupled with the recent acquisition related costs, higher debt levels, and recession fears is putting alot of downward pressure on the stock.
    1
  2008. Good point! Thanks for sharing your perspective :)
    1
  2009. Thanks Henry!!
    1
  2010. great video from him he's right on the money. I only slightly disagree with his valuation, I think he was too conservative because he lacks deep knowledge of the industry but the general purpose of the video (which was to teach people how to avoid value traps) is timeless information for beginner investors.
    1
  2011. I'll put it on my list!
    1
  2012. Thanks!
    1
  2013. That is true. Thanks for leaving a comment
    1
  2014. Glad it is proving helpful! You will have to wait and see about the strength meter...
    1
  2015. Ayee thanks so much! I'll be giving away a bunch of stuff through my giveaway so make sure you're in the comp! https://kingsumo.com/g/mcaq2x/youtube-stock-portfolio-series-launch-giveaway (There's only about 50 people in it so you've got a good chance!)
    1
  2016. That is true!
    1
  2017. Thanks for watching!
    1
  2018. Great insight! Thanks for watchjng
    1
  2019. Thanks for the feedback, much appreciated!
    1
  2020. Enjoy 😎
    1
  2021. same camera! but thank you so much :D
    1
  2022. for those companies I generally look 5 years out, so instead of using a ^10 I use ^5
    1
  2023. Hahah woops
    1
  2024. thanks Wayne. Some companies report it and others don't so for royal Caribbean I had to make an estimation. Looking through their reports I could work out that they spend about $1B per ship that they build or buy, and since that increases their passenger capacity I count that as growth cap ex. So everytime they built a ship I essentially subtracted $1B from Capex
    1
  2025. Thanks so much!
    1
  2026. 😯
    1
  2027. Good idea!
    1
  2028. None what so ever, it was just one of my first investments that I have held on to for a while. I will likely move money out of it and into a different business if stock prices come down
    1
  2029. I'm doing more to combat the bots on newer uploads now. Thanks for the feedback!
    1
  2030. Correct ^
    1
  2031. I'd check out my video on how to invest in Australian shares. Even if you are not Australian there is a ton of good information about getting started in that video
    1
  2032. Thanks for subscribing! Glad you're enjoying the content :D
    1
  2033. Thanks Dan!
    1
  2034. Thanks for watching :)
    1
  2035. I meant to say cash the first time
    1
  2036. I'll add them to my list, thanks for the suggestions ✌🏻
    1
  2037. Using certainty equivalent CFs isn't very realistic IMO because it required making many more assumptions about the probability of them being realised. Instead, I just use a range of potential future cash flows to reach a range in which intrinsic value might sit. I am also not that concerned about the intrinsic value calculated using a risk free rate. I care more about the value of cash flows when discounted at my personal required rate of return. I don't know what you mean by 'normailizing owners earnings in year 0' but my advice would be not to over complicate the process for the sake of it. Ultimately all that matters is cash-in and cash-out and a simple DCF does a fine approximate job at assessing them.
    1
  2038. I think so!
    1
  2039. Thanks for watching! I'll put Amazon and Walmart on my list of stocks to check out!
    1
  2040. Your guess is as good as mine! I know where the stock will go over a 5 year period but short term predictions almost always are baseless.
    1
  2041. You're awesome Adam!
    1
  2042. Thanks Josiah 😎
    1
  2043. Thanks for watching Henry! Glad you are loving them :)
    1
  2044. Thanks!
    1
  2045. Ill put it on my list of ideas! Thanks for watching :)
    1
  2046. Amex is definitely an interesting one, however in the payments industry it seems as though Visa has them beat for now. Amex's earnings, sales and equity are all trending down which indicates that their market share is being eroded by businesses with stronger economic moats (Visa and Mastercard). Although this trend may not continue forever, and there is a lot of opportunity for growth in developing countries, I like to invest in companies which have proven that they have a moat and consistent earnings power, because then we can make a decent estimate of their future earnings. Hope this helps!
    1
  2047.  @tyewarren5712  fantastic! If you're interested in really diving deeper into stock analysis then send me an email at hamish@hamishhodder.com You seem like someone who would benefit from an investing platform and community I'm operating off YouTube. Just reach out if you're interested!
    1
  2048. Sure! I'll note that down
    1
  2049. hahah
    1
  2050. Hell yea Adison ✌🏻
    1
  2051. so great to hear Eli!
    1
  2052. Thanks Brandon!
    1
  2053. Free Cash Flow = Operating Cash Flow - Total CapEx owners earnings = Operating Cash Flow - Maintenance CapEx
    1
  2054. Scott S Thanks so much Scott! Welcome to the team!!
    1
  2055. Thanks for the feedback!
    1
  2056. Thanks Nelson!
    1
  2057. Unfortunately that is one you need to calculate yourself. Owners earnings is an estimate, so you won't find it on any finance websites.
    1
  2058. Thanks Firebird
    1
  2059. :D Thanks for watching!
    1
  2060. sure!
    1
  2061. American finance channel talking about Australia? What is this, a crossover episode??
    1
  2062. Thanks for watching!
    1
  2063. I have an investing platform and private community. You can learn more about it here :) https://www.hamishhodder.com
    1
  2064. Thanks for sharing very interesting!
    1
  2065. You're awesome!
    1
  2066. Thanks Joshua!
    1
  2067. I really like IGTV, a bit of change in the way content is produced forces creators to think on their feet. My first IGTV video is uploading as we speak!
    1
  2068. Cheers Graham
    1
  2069. I haven't read his book yet but it is sitting on my shelf when I am finished with Ray Dalio's book!
    1
  2070. More coming your way Scott!
    1
  2071. Happy new year!
    1
  2072. Thanks for watching!
    1
  2073. Thanks!
    1
  2074. Aye JJ! Yeah that is very true, always be somewhat sceptical
    1
  2075. unfortunately not :(
    1
  2076. Aussie Wealth Creation Ill have to check it out!
    1
  2077. Thanks Tom!
    1
  2078. I'll check it out!
    1
  2079. hahaha
    1
  2080. Thanks guys!
    1
  2081. thanks for the feedback, genuinely appreciate it David. Always room to create better content.
    1
  2082. Nice!
    1
  2083. Apple
    1
  2084. Thank you!
    1
  2085. Thanks and you're welcome!
    1
  2086. Some people do that and there are strategies for investing in companies like Amazon. Personally I look at earnings and Free Cash Flow because its essentially what is left over for shareholders after all expenses have been paid and revenue doesn't really tell the whole story.
    1
  2087. Yeah some sectors have been hurt considerably over the past 6 months!
    1
  2088. Glad you enjoyed it!
    1
  2089. Thank you!
    1
  2090. Thank You Dave!
    1
  2091. Read the instructions on the first page :)
    1
  2092. Only a fool would care about the movement of a stock they don't understand or business that isn't strong
    1
  2093. You're welcome Jake! Thanks for watching
    1
  2094. Thanks T!
    1
  2095. Thanks Brandon!
    1
  2096. It's now in the description :)
    1
  2097. Thought I'd try something new!
    1
  2098. 😉
    1
  2099. Thank you!
    1
  2100. Yes and I think there are people making those videos and providing value.
    1
  2101. I agree with you entirely Richard, I studied portfolio theory at university for 2 years and very oversimplified it in the interest of time, and was talking off the top of my head. I will make my concise explanations more representative in future videos. Thanks for the feedback :)
    1
  2102. Mistakes are fine as long as you learn from them!! That sounds like a great portfolio, I'm going to have a look into some of those!
    1
  2103. Thanks Tristan!
    1
  2104. It does not cover tax related information unfortunately
    1
  2105. Thanks Henry!
    1
  2106. I run an investing platform that helps investors consistently outperform the market. You can learn more here: https://www.hamishhodder.com
    1
  2107. Thanks for the pick! I'll go into a lot more detail when I fully analyse it.
    1
  2108. Yeah I agree it is priced too high at the moment. It would need to come down in price significantly for it to be a buy for me.
    1
  2109. I am really keen to see how Disney+ is accepted by the consumer market.
    1
  2110. Couldn't agree more!
    1
  2111. Thanks so much James!
    1
  2112. Positive Investing Thanks! I Appreciate it :)
    1
  2113. Thanks so much Henry!
    1
  2114. Thank you!!
    1
  2115. Welcome to the team! Have you got any topics you'd like to see me cover?
    1
  2116. 100%
    1
  2117. I hope so too! Thank you Luis :)
    1
  2118. You're welcome Justin!
    1
  2119. thanks!
    1
  2120. Great video Graham, however I have a slightly different opinion on risk/reward. Even though in many situations, high risk can equate to high reward (and vice versa), I don't think they are by any means correlated. Risk is correlated with uncertainty, and there are many cases which have high uncertainty (therefore high risk) but do not offer a high reward. In some of my videos I talk about the kinds of stock market investments that are inherently low risk, but offer huge rewards if executed correctly.
    1
  2121. I'll check it out, thanks!
    1
  2122. It's in the version 2.2 spreadsheet which can be downloaded through the same link: https://www.hamishhodder.com/spreadsheet
    1
  2123. Thank you! Ah yes I have had a few people mention this to me, so I will definitely bring out a video on how to manipulate the formulas.
    1
  2124. Cheers for watching.
    1
  2125. bring it on
    1
  2126. balisticecks Thanks! the 5 yr average will not necessarily always be the middle of the high and low, because if the pe is mostly low over the 5 yrs the average will be closer to the 5 yr low value, and vice versa.
    1
  2127. Thanks for watching James!
    1
  2128. Thanks for watching!
    1
  2129. Thanks for the feedback! Will definitely do this more often :)
    1
  2130. Thanks for watching Lee.
    1
  2131. Thanks Ken, I'll do more of these in the future!
    1
  2132. Amazing! great work Brandon and Claude
    1
  2133. Big things to come!
    1
  2134. Cheers Nick! Hopefully it has a significant pull back.
    1
  2135. Thanks!
    1
  2136. Spot on, compounding is applicable to all areas in life.
    1
  2137. Thanks Murray! More videos like this coming your way
    1
  2138. Thanks for watching!
    1
  2139. legendary stuff
    1
  2140. Fantastic! thanks for sharing Dan :)
    1
  2141. So essentially I'm finding a number to represent compounded growth. So for example if a stock grows at 15% compound interedt over 5 years, it will have doubled (2) over that period. I then multiply this by 2 because I want to buy the stock at half of its value, ie, dividing the future value by an extra 2. My spreadsheet does this for you so if youre having trouble understanding you can just use that!
    1
  2142. 1.1^5=2, so the formula is (1+growth rate)^number of years
    1
  2143. winner winner!
    1
  2144. You are welcome!
    1
  2145. Ah so kind & thanks for the support! As for my cash, it is just in a high interest savings account with Commbank. I believe it earns 1-1.5% interest
    1
  2146. Its currently only available on YouTube but we are working on getting it out on itunes.
    1
  2147. I guess within 1 month I meant, and compared to how much my cash position usually changes.
    1
  2148. Some can transition into a new period of growth, some do not!
    1
  2149. the idea would be that in the event of a recession, short term bond rates will go down (fed lowering rates to stimulate the economy) and equity returns could be negative
    1
  2150. that's broadly what happens, but yes you are correct that having cash to take advantage of lower stock prices would be ideal
    1
  2151. Hey Nelson thanks so much! Glad to be providing some value :)
    1
  2152. Interesting!
    1
  2153. Nice!
    1
  2154. For US stocks quickfs.net and fot aussie stocks I use WSJ.com and then I just look through annual reports. going to make a video on this soon!
    1
  2155. It's a very big unknown!
    1
  2156. Hey Jack from Singapore, welcome to the team 👊
    1
  2157. quickfs.net often has all the numbers but I usually just go through all the annual reports on the company webside
    1
  2158. Thanks! I just made it myself in Premiere Pro actually haha
    1
  2159. Thanks bro! Really appreciate it, keep up the great content ✌🏻
    1
  2160.  @denni-swan  no problem!
    1
  2161. Thanks Evan!
    1
  2162. Thank you!
    1
  2163. Thanks for watching!
    1