Value Investing

William Grant & Sons Distillers, in business for more than 120 years, recently released a limited-edition variety of its Glenfiddich single-malt scotch. The amber whisky has been quietly aging under the Glenfiddich Distillery’s Warehouse 8 in Dufftown, Scotland, for a half-century. At $16,000, it is one of the most expensive… Read More

Warren Buffett may well be the most-watched man in the world. No paparazzi are camped outside his house, but there’s a huge cult of investors that hangs on the famed Oracle of Omaha’s every word. So news that Richard Santulli had stepped down as the head of Berkshire Hathaway’s (NYSE:… Read More

Everything is relative, especially market valuation. A utility, for instance, with its steady, slow-growth business, is never going to command the earnings multiple of a rapidly growing biotech firm or high-tech upstart. That’s why it’s best to make valuation comparisons within industries. It’s also… Read More