Value Investing News

Deferred gratification is a principle where one or more people choose to postpone near-term benefits in order to enhance their chances of greater benefits in the future. In our microwave society marked by the ‘I want it now’ attitude, it is unusual to find someone willing to wait.

It is a great time of year! The Christmas music, decorations, family gatherings, holiday plays and stock picks. Stock picks? Yes, ’tis the season for stock predictions! Virtually every financial writer will pen an article selecting his or her top picks for the upcoming year. I enjoy reading them and the logic behind the picks.

Bud Labitan is a fellow value investor and the author of Valuations – 30 Intrinsic Value Estimations in the Style of Warren Buffett and Charlie Munger. I recently met with him on the campus of Purdue University Calumet at the School of Management.

Ben: Interesting. What moved you to finally put one together?
Bud Labitan: As a book, "Valuations" came about in my mind after I had posted a few example valuations at seekingalpha.com. I wanted a book that showed cases on how to sensibly value a business.