It has been said many times and there are many many articles and posts about buying undervalued assets. I recently saw a YouTube video from Buffett himself. In this video interview with Charlie Rose, Buffett reiterates that distressed assets are a great investments. He talks about Mortgage-Backed Securities and the government bailout. He says if you buy distressed assets at distressed prices, you are sure to make money. He also mentions about his continued belief in the US economy over time. Finally he closes with his classic quote: “You want to be greedy when others are fearful, you want to be fearful when others are greedy.”
All I can say is; easier said than done. Otherwise, there won’t be only one Buffett.
John Wiley & Sons, Inc. publishes print and electronic products that provide content and digital solutions. It operates in three segments, viz., (1) Scientific, Technical, Medical, and Scholarly; (2) Professional/Trade; and (3) Higher Education. Segment 1 products include journals, encyclopedias, books, databases, and laboratory manuals in various publishing areas. Segment 2 products includes books, subscription content, and information services in subject such as business, technology, architecture, professional culinary, psychology, education, travel, health, religion, consumer reference, pets, and general interest. Segment 3 products focus on courses in business and accounting, sciences, engineering, computer science, math, social sciences, and other academic course material. John Wiley & Sons, Inc. was founded in 1807 and is based in Hoboken, New Jersey.
Theory of evolution says continuous change is inevitable and if one does not evolve, they will perish. This is true for businesses and corporations. If corporations do not evolve then their survival is in jeopardy. One thing key to survival is a core competency that the company has built over time. Yes, it is important to make and sell products or services. However, I believe products and services are just the end product or end result.
Corporations that are successful and continue to survive have shown that they focus more on building core competency. Based on their core competence these corporations have build products or services that can be applied to variety of applications. Successful companies are more eager to build competence that will help them become world leaders. They do not solely focus on products alone.
I realized that I did not publish my progress update in July or July 2009 because of traveling in late July 09/early July 09. In general, the summary for June/July 2009 is that dividend portfolio is showing some stability in capital value. The strength is market is also reflected in my portfolio total value. I don’t know what is there in store for future, but I think I can have some control if I buy carefully. I initiated four new starter positions. Attached below is the summary table to reflect the status as of July 31, 2009.