We make a concerted effort to engage in such conversations in order to gain substantive insights about companies and to then weigh the impact of that information against our investment thesis. As long-term investors, however, we believe scuttlebutt provides us with an edge. Many investors-especially those who have short investment horizons-do not engage in these thorough activities. In his enduringly seminal book of investment philosophies, Common Stocks and Uncommon Profits, Philip Fisher used scuttlebutt to characterize the fastidious process of speaking with a potential investment’s customers, suppliers, business managers, similar businesses, and even direct competitors for information. Not to be confused with insider information, scuttlebutt falls under the “ Mosaic Theory,” which refers to a method of analysis whereby an analyst interprets a mix of public and non-public non-material information about a chosen company in order to derive a more balanced and informed basis for valuation. Eventually it made its way into investing parlance to describe the qualitative, often conversational information investors consider when assessing potential investments-alongside the hard numbers and analytics. Scuttlebutt was originally a nautical term for a ship’s cask where sailors would gather to share gossip-the early equivalent of today’s water cooler. Members enjoy a steady stream of exclusive wisdom and insights from the leading minds in the field of investment management.Ĭhuck Akre | Sanjay Bakshi | Brian Bares | David Barr | Chris Bloomstran | John Burbank | Joel Cohen | Larry Cunningham | Aswath Damodaran | Christopher Davis | Charles de Vaulx | Fernando del Pino | Pat Dorsey | Jean-Marie Eveillard | James Ferguson | Frank Fischer | Tom Gayner | Daniel Gladiš | Bruce Greenwald | Robert Hagstrom | Connor Haley | Ahron Herring | Michael Huber | Bryan Lawrence | Hendrik Leber | Paul Lountzis | Peter Mantas | David Marcus | Howard Marks | Michael Mauboussin | Chris Mittleman | David Nierenberg | Phil Ordway | Mohnish Pabrai | Francisco García Paramés | Bob Robotti | François Rochon | David Rolfe | Jim Roumell | Chuck Royce | Tom Russo | Dave Sather | Florian Schuhbauer | Adam H.“Go to five companies in an industry, ask each of them intelligent questions about the points of strength and weakness of the other four, and nine times out of ten a surprisingly detailed and accurate picture of all five will emerge.”įunny word, fun to say, but how relevant is it for investors? For us, scuttlebutt is a valuable tool for both due diligence and idea generation. Members also enjoy preferential access to selected offline events as well as exclusive access to other events hosted by MOI Global, including the Zurich Project Summit, the Latticework Conference, and Ideaweek. Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. We are now a thriving global community of intelligent investors, connected through great ideas, thought-provoking interviews, online conferences, live member events, and much more. Who is MOI Global? In recent years, The Manual of Ideas has expanded to become more than simply “the very best investing newsletter on the planet” (Mohnish Pabrai). Our sole purpose is to serve the members of MOI Global as well as we possibly can in order to help them learn, invest intelligently, and build lifelong friendships with like-minded people. The MOI Global Editorial Team, led by John Mihaljevic, CFA, includes community builders, event organizers, writers, editors, research associates, security analysts, and fanatical member support advocates. About The Author: MOI Global Editorial Team
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