Investing For Value

Fundamentals 06-2: There are two aspects in managing any stock portfolio - construction and maintenance.  This post focuses on the maintenance of a stock portfolio while the construction issues are covered in " Baby steps in constructing a stock portfolio ." 

Value Investing Case Study 08-2:  I drafted my Seeking Alpha article  Steel Dynamics: Wait for the coming price decline  in Dec 2020 based on the information in Part 1 and 2 of this case study. The valuation was based on the 2020 data set from Damodaran that was updated on 8 Jan 2021.  However, to ensure consistency between this case study and the Seeking Alpha article, I have maintained the 2020 valuation data for this case study.  Since the publication of this post on 17 Jan 2021, the company has released its 2020 financial statements. An updated article incorporating this info has been published as Case Study 08-3.  Revision date: 12 May 2021.

Value Investing Case Study 08-1:  This is my first case study of a US-listed company.  It is intended to demonstrate that the approach is also applicable to companies listed in other parts of the world.  This fundamental analysis was based on the financial statements from 2010 to 2019.  Since then the company has released its 2020 financial statements. An updated analysis is now available as Case Study 08-3.  Revision date: 12 May 2021