CHAPTER 5Income Statement and Quarterly Progress

To make money, buy some good stock, hold it until it goes up, and then sell it. If it doesn’t go up, don’t buy it.



I have discussed a wide range of topics, and my goal is that you should fully understand the purpose of value investing and how it can be used. You also should keep in mind that regardless of your goals, you can invest your own money without the use of a money manager. Now that you understand value investing as a strategy, it’s time to dig into the most important area of becoming a successful long-term value investor—fundamentals.

The fundamentals of a company are what drive the long-term direction of a stock. Exercising the practice of research and identifying ...

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