Benjamin Graham And Jeremy Siegel on IPO Investing

I do not write about IPOs often. As far as I am concerned, there is only one privately traded company in the United States that would engender “must have” status if it became traded on the stock exchange, and that would be Mars Candy (the maker of M&M’s, Snickers, Twix, 3 Musketeers, and a handful of others). Out of all the IPOs in the only past generation or so, the only worthy of truly long-term holds that could not be bought through a similar proxy would be Google, Starbucks, and Visa. It’s not something that I think about all of that often, given the strong wisdom against IPO investing given by Jeremy … Read the rest of this article!

Should Morality Prevent You From Buying Blue-Chip Stocks?

One of the consequences of truly understanding what it means to invest in common stocks is that you come to appreciate that you are a part owner in the business that you select. Sure, someone with 100 shares of 100 Exxon Mobil won’t be able to show up at headquarters in Irving, Texas and successfully demand changes to the company’s capital investments, but he is one the many captains to whom the Board and management team is ultimately held responsible.

When you realize you are the part owner, the question naturally arises: Is what am I doing here moral?

I’m using Coca-Cola here as an example because it’s frequently pointed out that high … Read the rest of this article!