Graham & Doddsville Newsletter for Summer 2009

Here is the latest newsletter from value investing students at Columbia Business School. It contains an interview with Paul Sonkin, a highly respected value investor who focuses on microcap stocks. Sonkin has an MBA from Columbia where he now teaches applied value investing. He is a co-author of Value Investing: From Graham to Buffett and Beyond, which is, along with The Intelligent Investor and a handful of others, a core text in the discipline of value investing. The interview is quite instructive.

The newsletter contains valuations of Precision Castparts (PCP), which won the 2009 Sonkin Prize, and Apollo Group (APOL), which won the Second Annual Pershing Square Challenge. Both show the amount of research that is required to estimate the value of a business, and they provide a framework for the valuation process.

Here is a link to the newsletter.


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