Here is a great post from oldschoolvalue.com, hope you enjoy.
I have just finished the annuals and quarterly reports from Chiquita, and Fresh Del Monte, Dole’s biggest competitors.
I am putting together a series of posts on those three companies. Which one could be the best buy for a spot in the long term portion of my portfolio without the spin off possibility, or if any of them are good enough to fit that profile.
I have also started Competition Demystified and can tell I am going to learn a lot from it. I can’t wait to get farther into it and start applying the principles to the stocks I research.
Over the past several days I have been reading annual and quarterly reports for a couple companies I am researching. Tonight I am going to start reading some of the competitors annuals, and hopefully when I am done I will have enough information to value the companies and see where that takes us.
With the information in my previous post, and the experience I gained from that, I have gotten pretty good at spotting the bad companies and have been obviously staying away from them. Too bad that is the easy part of investing. Now I need to get a lot better at deciphering which companies are the good ones and which ones have the potential to become great, the ones with a so called Franchise. I also need to get better at finding companies with legitimate, sustainable competitive advantages.
So for Father’s Day I got Bruce Greenwald’s Competition Demystified which will hopefully help me learn a lot in those two departments.
Those are my plans for the next week or so, now lets see how that plays out.