Strategic Value Investing PDF Free Download

Here is a collection of free value investing Excel spreadsheets and checklists. These tools can help you get a more long-term perspective and become a more disciplined, rational and patient investor. Remember that the intrinsic value calculators are just an estimation of the value of the stock. Do your own research and don’t rely solely on the intrinsic calcultors.

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Praise for Strategic Value Investing “A book that has much the same character as a good value investor: calm, disciplined, with a grasp both of broad theory and of how to apply it.” —JOHN AUTHERS, senior investment columnist, Financial Times “This comprehensive look at valuation techniques is not only insightful, but can be easily put. And Irene Gannitsos as part of the Demonstrating Value Initiative at Vancity Community Foundation. The guide was released in December 2010, with minor updates in December 2013. Further copies of the guide can be downloaded at www.demonstratingvalue.org.

Most of the Excel valuation spreadsheets on this page is included in The Warren Buffett Spreadsheet which is an automatic spreadsheet that will give you the intrinsic value calculation in a few seconds for each stock instead of having to manually plug in alot of data into the spreadsheet. Saves you a lot of time in your stock analysis.

The compounding annual growth calculator:

Einstein said: “Compound interest is the eight wonder of the world” This tool let you see the magic of compounding and how important it is to start to save and invest early and how small differences in annual returns can have a huge influence of the total amount of money after a long time period. Wonder how much 1.000$ invested with an annual return of 8% is 50 years in the future? The answer is 43.427$. If you instead can get a return of 10% the amount increase to 106.719$

The total portfolio value spreadsheet:

This spreadsheet lets you register your total portfolio value over time. There are benefits of doing this instead of focusing on individual stocks return. The benefits are mostly behavioral. It means that as long as the total portfolio value is increasing over time you are doing things right. We often can get too obsessed about each stocks returns in the portfolio, and trade too much because of this. This tool keeps your perspective in order with your long-term goals and its also good way to actually see for yourself that over longer periods of time there is usually a steady increase in the total value, even it sometimes don’t feel like it if we check our portfolio too often. I suggest you at maximum record the value of your portfolio once per month. Anything more is just noise for the long term investor.

Stock portfolio tracker

This is a simple tool to keep track of your total returns on your investments. Works only for US-listed stocks and its excluding any dividends that you might receive. However the tool give a good way to keep track of your returns and with good visual presentations.

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*Remember to make a copy to your own drive first. Click: “File” – “Make a copy” in Google sheet before you can begin to edit and use the spreadsheet.

The free stock watch list:

I have developed a stock watch list that can be used to save interesting stock that you have analyzed. You can also compare today’s price with the estimated intrinsic value and see your margin of safety. The data is provided from Google Finance and its updated automatically as soon as you type in a stock ticker

The buy and sale log for your stocks

This excel sheet lets you keep track of all your buys and sales of your stocks. You can also register important dates for reviewing you stocks and noting down the intrinsic value

The Reverse DCF Calculator

This calculator is useful, because unlike the normal DCF analysis that only estimates the intrinsic value based on future cash flow, this one let you see the growth rate that is expected by the stock market at the stocks current price. You can then based on the expected growth rate make a judgement if you agree or disagree with the markets prediction. This can be easier than to judge whether the intrinsic value is really higher than the current stock price. It’s easier to judge whether the expected growth rate is fair considering the stocks historical growth rates.

Portfolio strategy for value investors

This word file contains around 20 recommendations for portfolio construction and strategy. It is a synthesis of advice from the best long-term value investors coming from sources like books and interviews. Gives you a good framework for how you should be a good investor.

The Net Net stock checklist

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This is probably the most comprehensive Net Net checklist that you will find online. It’s checklist points is gathered from books, online articles, and interviews. Especially from books and interviews of Jeroen Bos. The author of the book Deep Value Investing

Simple checklist for high quality stocks

This is a simple checklist for quality stocks that covers the most important checklist items that you should be aware of before buying a stocks. It covers checklist items that give you information about the moat, management, profitability, financial strength, valuation and sentiment of the company.

Bruce Greenwalds maintainance capex calculation spreadsheet

This is a spreadsheet that uses a simple formula to separate a companies capex (capital expensitures) into maintainance capex and growth capex. We like to separate these so that we can see what it cost just to keep the business going (maintainance) and how much is used for growth, that can produce additional income for the company in the future. This spreadsheet can be used on stable and mature companies that does not have too high capex requirements.

The EV/EBIT Valuation Spreadsheet

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Intrinsic value calculator: Book value and dividend growth

DCF intrinsic value calculator

This calculator estimate the intrinsic value of a stock based on the amount of free cash flow it will produce and the growth rate of these free cash flows in the future. This calculator works best for mature company that has a positive FCF the past 10 years and have stability in their FCF. This calculator does not work well for rapidly growing companies as these can be negative in FCF because all of the cash goes to future cash flow genereating investments.

Katsenelson’s Absoulte P/E Valuation Model

P/E Intrinsic Valuation Model

Benjamin Graham Growth Valuation Model

The full stock checklist for value investors

This is a big checklist of 106 checklist items. In addition to that there is important questions you should ask yourself about the company before buying. This list is a collection of checklist questions that I have gathered trough years of reading value investing books. You definately don’t need to check ALL of these items before investing, but I think its a good exercise to look trough them and think about them before investing in a stock. Enjoy!

2-Stage Gordon’s Dividend Growth Model

This is a valuation method that works for companies that has a long history of paying out dividends and with stability in the payments.

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The Residual Income Model

This model is taken from the book “Strategic Value investing”. It is stock valuation in scenarios with declining and increasing ROE (Return on equity) This can give you an idea of the stock valuation in both of these situations.

The Expected Returns stock valuation model

Strategic Value Investing PDF Free Download Books

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Owners earnings calculation

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This is the preferred method of Warren Buffett to calculate the true earnings for the shareholders: