Global Value Investing

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A multifaceted approach to value investing with stock valuation based on intrinsic value estimated from cash returns, appraised value of assets, and other facets of value.

 

 

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The following investment research tools and resources are listed alphabetically. Some of these resources may not be available yet on-line and thus do not have a link shown here. Information useful to intrinsic value investing is mentioned in the link descriptions, but these web sites may also contain material that is either irrelevant or even inimical to pure intrinsic value investing.

The site descriptions are often verbatim quotes from these resources and are thought to be accurate at the time of abstracting.
These quotes are considered to be "fair use" as interpreted by The Chicago Manual of Style: The Essential Guide for Writers, Editors, and Publisher, 14th edition, 1993. Chicago: The University of Chicago Press.

Please Note: We do not actively maintain this list. If you notice that a link is dead, please let us know. Inclusion of a site on this list is not to be construed as any sort of endorsement or recommendation by us of the site or its creators.

 


N

National Association of Investors Corporation Investment education for individuals, young and old, new and experienced. Information for investment clubs and youth. Offers low-cost Dividend Re-Investment Plans (DRIPs). Offers fee-based software for (1) customizable screening with over 60 parameters, and (2) analysis of S&P Compustat Datafiles of over 3,500 companies, including Analyst Consensus Estimates (ACE) and historical graphing. NAIC Home Page

Natural Investing
Your money is your voice to the world. Natural Investing is about making financial choices that are in alignment with your personal values - your social, spiritual, environmental and ethical concerns. The book Investing with Your Values : Making Money and Making a Difference, 1999, Bloomberg Press guides you through the process of creating a profitable, values - based portfolio. It shows how to bring personal finances - and the global economic system - into alignment with our highest values. NIS maintains a proprietary Social Rating which evaluates with a “heart” rating (ranging from one to five hearts) the social policies and characteristics of socially screened SRI mutual funds. NIS seeks to promote awareness of socially and environmentally responsible business, investing and consumer resources. Avoidance Issues : Alcohol, Animal Welfare, Environmental Pollution, Excessive Executive Pay, Gambling, Global Warming, Nuclear Power, Repressive Regimes, Sweatshops and Child Labor, Tobacco, Weapons and the Military, Workplace Discrimination; Affirmative Issues : Affordable Housing, Clean Transportation, Community Development, Education, Energy, Conservation, Environmental Cleanup, Job Creation, Progressive Workplace Policies, Renewable Energy, Recycling, Tree Substitutes, Useful Products and Services.
Natural Investing

Numa Option Calculator
Uses an adjusted Black-Scholes model to value European put and call options. Calculates theoretical option value and implied volatility. Also available are calculators for multi-options, warrants, and convertible bonds.
NumaWeb : The Internet Resource Center For Financial Derivatives

 


O

OnLine Investment Services Comprehensive guide to stock and commodity brokers; Discount Stock Brokers Ranked report with reviews and rankings of low-cost, middle-cost, and high-cost brokerage services; Discount Commodity Brokers Ranked report. Discount Stock and Commodity Brokers

 


P

Perspective on Value Why Share-Owner Value? Twelve years ago, the cover of our 1984 Annual Report contained these words: "To increase shareholder value over time is the objective driving this enterprise." That statement is as true today as it was then -- and that idea is more prominent than ever at The Coca-Cola Company. In this essay, adapted from remarks delivered to the Executives' Club of Chicago last November, Roberto C. Goizueta discusses our mission. A Perspective on Value

Public Register's Annual Report Service
24 hours a day, 365 days a year; free annual reports on more than 3,600 public-traded companies.
The Public Register's Annual Report Service

 


Q

Quicken.com Comprehensive investment information. Company Research (enter ticker symbol with symbol lookup), Financials (radio button), Evaluator (Six steps: Growth Trends, Financial Health, Management Performance, Market Multiples, Intrinsic Value with 2-stage growth using earnings and debt instead of cash flow, and Summary) and recent SEC Filings (rank by either Date or Form Type). Quicken.com Stocks

Quote.com
Market quotations for stock, bond, fund, index and money markets in U.S. and non-U.S. including governments, foreign markets, and foreign exchange. Can personalize. Free and fee.
Quote.com, Inc.

 


R

Random.org True random number service. Uses a source of entropy outside the computer corrected for skewness to generate true as opposed to pseudo random numbers. Pseudo-random numbers have the characteristic that they are predictable, meaning they can be predicted if you know where in the sequence the first number is taken from. For some purposes predictability is a good characteristic, for others it is not. random.org

Research: Magazine - InvestorNet Online free and fee-based information. Major categories include Investment Research, Tracking Investments, Analysis, and Investor Tools. Major functions include Watch List, Portfolio, Price Quotes, Screens, and News. InvestorNet

Resources for Economists on the Internet
Bill Goffe, Department of Economics and International Business, University of Southern Mississippi, Hattiesburg, MS. A selective guide for academic and practicing economists and those interested in economics. This site includes a searchable index to the entire guide. The guide has many substantial, narrowly-focused resources and clickable links as well as a summary Table of Contents, an analytical Table of Contents, and a description of each non-email resource.
Resources for Economists on the Internet

Reuters Money Network Software product with a news clipping service and two data subscription plans: Gold for mutual funds, and Platinum for stocks, bonds, mutual funds, CDs, and money market funds. Monthly updates of data originated by S&P are downloaded via local Compustat dedicated transmission line. The Platinum plan includes 60 variables for 10,000 U.S. stocks, 20 variables for 6,000 U.S. bonds, and 40 variables for 6,000 U.S. mutual funds. Sort, rank, and screen. Historical price charts, current price quotes, and portfolio tracking. For subscription, call 1-800-521-2475. Portfolio tracking at
Moneynet

Robert's Online Applications
In Java or JavaScript: spreadsheet, loan pricer, portfolio pricer, commissions pricer (over 40 transaction services for stock or option trades with either 800 toll-free number or www address), stock volatility charts, option strategy visualizer (3-D), option pricer, derivatives pricer (digital, knock-in, and knock-out option types).
Robert's Online Applications

 


S

Savings Bond Wizard United States Treasury, U.S. Savings Bonds and Bureau of the Public Debt, provides a "redemption value wizard", a calculator and report writer for a portfolio of savings bonds, and other pricing tools for savings bonds. Either download Savings Bond Wizard 1.07, Savings Bond Wizard Information, and Savings Bond Value Files, or create/request a diskette. Savings Bond Wizard

SEC EDGAR Archives Search The index for 1995, 1996, and 1997 is a full-text WAIS index of the header information contained in each document. A sample header file is included.
US Securities and Exchange Commission

SEC EDGAR Database of Corporate Information Company filings of Annual Report to Shareholders, forms ADV (registration as an investment adviser or RIA), 10-K (annual), 10-Q (quarterly), 14 (proxies), 485 (fund prospectuses), Schedule13D (mutual fund ownership report), 13F, executive compensation sources, and other documents with the U.S. Securities and Exchange Commission. A guide to corporate filings provides a short description of the most common documents filed with the SEC, and most are filed electronically. EDGAR. Special purpose searches include: (1) CIK (10-digit Central Index Key) and Ticker Symbol Lookup, (2) Current Events Analysis, (3) Mutual Funds Retrieval, (4) Prospectus Search, (5) Exhaustive Mutual Funds Search, (6) Schedule 13D Ownership Report, and (7) Executive Compensation Test.
Search the EDGAR Database

SmartMoney Tools include broker ratings of best and worst discount, full-service and online; calculators and worksheets for personal finance. Quotes and research. Data and tools for analyzing stocks and mutual funds.
SmartMoney.com

SocialFunds.com Socially responsible investing (SRI).
"Screening" is one of the fundamental strategies used by responsible investors. In addition to meeting financial criteria, the "screening" process includes or excludes companies from a portfolio based on a set of social, environmental, ethical, or religious guidelines defined by the investor. Includes education, funds, tools, newsletter and services. Socially Responsible Investing

Standard & Poor’s Blue List
U.S. corporate and municipal bond current offerings; free & fee.
Blue List

Standard & Poor’s Compustat PC Plus
With PC Plus financial analysis software, you have the single platform for a comprehensive family of financial and market databases: •COMPUSTAT, covering companies in North America •GLOBAL Vantage, covering companies in the World •Sector Data, both economic and industry •Economic Data, macroeconomic statistics and indicators •On-line Prices, daily market data •ACE, Analysts' Consensus Estimates •I/B/E/S Institutional Brokers Estimate System •FIRST CALL, daily consensus estimates and recommendations. Access insightful textual information: PC Plus also provides access to extensive textual information through the Compustat Library. The Compustat Library—a major component of PC Plus—brings you our premier textual databases: •Standard & Poor's Stock Reports •EDGAR from Compustat •Business Descriptions •Country Overviews •Trends & Projections.
Standard & Poor's Compustat Home Page

Standard & Poor’s ComStock A real-time market data provider delivering information from over 125 exchanges and sources worldwide. Market coverage includes equities, options, futures, commodities, foreign exchange, currency analysis and news. Serves as the communication pipeline for S&P's financial data from Platt's, MMS, Equity Services Group, MarketScope, DRI and Compustat. Provides one-stop access to many international market data even if real-time not needed.
Standard & Poor's ComStock on the Net

Standard & Poor’s Earnings Guide (monthly; in print). Includes the Street Estimates of EPS for next quarter, next two years, and 5-year Projected EPS growth rate. Also includes Net Tangible book per share, Cash Flow per share, and P/E ratio. Some of the data are available for a download fee through StreetSmart by Charles Schwab. See the S&P Stock Guide.
S&P Equity Investor Services: Stock Screens

Standard & Poor’s Personal Wealth U.S. stocks, global stocks, bonds, currencies, and commodities. Holdings, analysis, plan and recommendations, fee and free.
PersonalWealth

Standard & Poor’s Ratings Criteria
There are key criteria but no risk/creditworthiness ratings for eight analytical sectors including corporate finance, managed funds, public finance, and sovereigns.
Standard & Poor's Ratings Services

Standard & Poor’s Stock Guide (monthly; in print). Includes common stock rankings of earnings and dividends based primarily on their growth and stability, preferred stock ratings, and mutual bond fund ratings. For common and convertible preferred stocks, also includes data on splits, dividends, financial position, capitalization, and earnings. Note: Some of the S&P data are available on monthly downloads through subscription to StreetSmart by Charles Schwab via Reuters Money Network using a local Compustat dedicated line. StreetSmart is a package of tools and services designed primarily for chartists and short-term traders who place more order transactions than do long-term investors and thus generate more retail broker commissions, wholesale dealer commissions, and other transaction-related fees. Cui buono?
S&P Equity Investor Services: Stock Screens

Statistica by StatSoft. Quick Statistica includes all the analytic and presentation graphics of Statistica, data management, and a wide selection of statistics.
Quick STATISTICA Interactive Probability Calculator animated example: As you change the parameters that control the distribution, the graphs of the density and distribution functions change interactively. Probability Calculator Example

Stockpoint
Personalized online investment tools.
Use StockFinder Pro to search multiple data sources of nearly 10,000 publicly traded companies. StockFinder Pro returns a list of up to one hundred stocks that match your customized search criteria based on 30 data fields in four categories including Price (8 fields), Risk (7 fields), Sice/Capitalization (4 fields) and Revenue and Earnings Data (11 fields). Results are presented in a spreadsheet format. Because StockFinder Pro is built with java, you can interact with the results, add customized data fields, and reorder columns according to your personal preference without conducting another search! Stockpoint.com

StockSelector Four stock "value" calculators based on StockSelector value (the five year average PE of the stock times next years estimated earnings per share), PEG value (the estimated earnings per share for next year times the estimated long-term growth rate), Industry value (the Industry Average PE Ratio based on next year's estimated earnings times the company's estimated earnings for next year ), and Present value (the estimated value of the company's book value, adjusted for inflation, based on current earnings estimates and using a period of five years ); also analysis of the Dow by five ratios with rankings of the 30 stocks for each ratio at different page at the same web site.
StockSelector: Calculators

StockSense Introduction to the discounted cash flow (DCF) method for stock valuation with several variations on the basic model of John Burr Williams: dividend discount model (DDM), Gordon growth model (GGM), two-stage growth model (2SG), and free cash flow to equity model (FCFE). The interactive presentation of each of the equity valuation models includes a spreadsheet with formulas and graphical multidimensional sensitivity analysis written in JavaScript so it will work on any computing platform. Includes links to data sources and related resources.
Stock Valuation With Sense

Stock Smart Subscription service includes companies, industries, U.S. markets, world markets, quotes, news, and mutual fund information. Research covers 20,000+ companies in 58 countries with earnings and industry analysis with stock screening. In-depth data on U.S. companies includes SEC filings.
Stock Smart

StockTools
Services include Database Query (sort by one of 12 criteria), Quote & Graph (configurable), Industry Groups (9 basic groups or sectors and 55 sub-groups or industries), Portfolio Manager, and Graph Wizard (configurable).
StockTools

StockVal
G-Model is "claimed" to be a variant of the classic dividend discount model. The model output is expressed in Warranted PE (WPE) rather than a present value calculation of a predicted dividend stream. The WPE (i.e., the price to earnings ratio which is warranted or justified given the set of assumptions which have been presented to the model) is then applied to forecast earnings points twelve months forward and twenty-four months forward. The resulting warranted price, current and one year forward, constitute the terminal output. Appreciation potential and expected return projections are calculated from these values. And, because WPE's are dynamic (they change as model variables change), testing of different model variable assumptions is accomplished instantly.
StockV G-Model

 


U

US Tax Resources. Federal and States income tax forms, publications and US tax code. Tax Resources in the Internet

University Angels
On-line angel investor network devoted exclusively to students and graduates of the world's leading universities. Makes it easy for investors and entrepreneurs in these communities to work together to help launch or grow viable business concepts into industry-leading organizations.
UniversityAngels.com

 


V

Value Line Investment Survey Full-page reports on approximately 1,700 stocks. Includes 23 series of vital financial and operating statistics going back 15 years and estimated 3 to 5 years into the future. Each weekly issue provides updated reports on 130 stocks. Summary data for each stock includes Rank for Timeliness (6 to 12 month price appreciation potential), Rank for Safety (definition not available), the Company's Financial Strength rating, and three indices of quality (Stock's Price Stability, Price Growth Persistence, and Earnings Predictability). Per-share data includes Sales, Cash Flow, Earnings, Dividends Declared, Capital Spending, and Book Value. Additional data includes Recent Price, P/E ratio, Relative P/E ratio, and Dividend Yield, as well as business description, commentary and the namesake Cash Flow Line. Subscription only, but available in many libraries at the reference desk. Also Value Line Investment Survey for Windows has two versions available on monthly CD-ROMs with weekly updates of price-related data to download from their bulletin board: one for 1,700 stocks, and another for 5,000 stocks. Provides customizable data fields, screening, ranking, export to spreadsheet, and pre-set charts on demand. Value Line Publishing, New York, NY. For software subscription, call 1-800-654-0508. Value Line

Venture Capital Resource Library
Venture capital database, list and browse investment opportunities, business plan template; FAQs, money, services, research, and free forms.
Venture Capital Resource Library

 


W

Wall Street City (Telescan) A collection of one-question "calculators" in 13 categories of personal finance including one for Stocks that contains nine questions about return on investment. Wall Street City - Calculator Center

Wall Street Research Net
Central collection point for on-line information about any stock or fund. Research information includes (1) QuickSearch filtering by several criteria in each of price & yield, growth, ratio, and size screens; (2) a company, including industry comparison with competitors; (3) the economy; (4) the markets including price quotes; and (5) mutual funds.
WSRN.com: Home Page

Wiley, John & Sons Corporate finance and equity valuation Excel spreadsheet programs for both PC and Macintosh by Aswath Damodaran can be downloaded free. The list of programs appears with this hyperlink on the Models page of Value Investing.
Wiley College: Damodaran/ Corporate Finance

World Economic Forum Reports on global competitiveness of nations.
World Economic Forum

World Wide Web Resources in Economics Describes material that could be of interest to mainly academic economists and is at least in part freely available on the Internet. Broad topics. Department of Economics, Faculty of Social Science, University of Helsinki, Finland, and the Center for Innovative Education, Helsinki School of Economics and Business Administration, Finland.
WebEc - WWW Resources in Economics

WorldyInvestor.com
Interpreting the world for individual investors. Price quote and ticker symbol lookup. EDGAR Online SEC filings by form or by date. The proprietary new WI ADR Index of 100 of the largest capitalization, most frequently traded ADRs (American Depositary Receipts listed in the U.S. and tradable by U.S. investors) with proprietary rankings by country and or by economic sector. All U.S. stocks, mutual funds and ADRs and Canadian stocks; foreign exchange; global indices.
worldlyinvestor.com: Global Stocks and Market Information

 


X

Xenon Laboratories Universal Currency Convertor ™ basic list includes 66 major currencies, 3 precious metals and special drawing rights. A longer "full" list of currencies is also available. Xenon Laboratories

 


Y

Yield Curve Yield curve spreads can be calculated in basis points for active U.S. Treasuries with terms of 3M, 6M, 1Y, 2Y, 3Y, 5Y, 10Y and 30Y. Provided by StockResearch.com. Treasury Yield Curve

 


Z

Zacks Investment Research Free services include e-mail alerts, earnings-per-share surprises, company research reports, price quotes, and other data. Daily summary of the current stock recommendations of 3,000 analysts employed by 230 US brokerage firms gives the "full story" for each of 6,000 companies. Zacks organizes the brokerage recommendations and its own conclusions into a number of fee-based and free services. Zacks Investment Research

ZDNet Search
Keep your investment information private and not on the Internet for the world to see. Using the search terms "stock market quotes" takes you to the downloads for Mach 6 and Stocktick, and using the search terms "personal stock quotes" takes you to the download for Personal Stock Manager (PMS) v3.08 from DTLink Software. PSM retrieves stock quotes for multiple portfolios from a variety of Internet quote servers. Simply enter stock symbols, and PSM automatically calls any of a dozen quote servers to get prices at any interval you specify. PSM offers loads of options, such as audible high/low price alerts, history maintenance, and configurable columns. Your investments can be organized in an Explorer-style hierarchical folder system with easy drag-and-drop for management. Tight integration with Internet information lets you organize sources of financial info beyond quote fetching, using bookmarks or favorites as you would with your browser. An optional stock ticker can display stock prices, and a nicely organized toolbar eases use. Other features include dial-up and proxy settings, news retrieval, extensive charting, fuzzy search symbol lookup, and Quicken .qif import/export. A QuickStart configuration wizard gets you connected quickly; then detailed, well-organized help provides the details. A Gold edition, also in the library, supports additional quote servers for more non-US exchanges, currency exchange rates, email and pager alerts, custom import/export, and more. Foreign currency conversion in the Gold version allows you to convert all retrieved quotes into a common display currency. FOREX rates can be updated periodically over the Internet. Additionally, cash accounts can be created in different currencies, and displayed in the currency of your choice. Reviewed on May 11 1999. System Requirements: Internet connection and Windows 95, 98, or NT. Purchase Information: Shareware: Free to try, $29.95 for regular version or $49.95 for Gold version if you decide to keep it.
Search ZDNet

 


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