Merry Christmas! And Season's Greetings from Zenway.com Enlightened Investor Digest

[zenway.com]

"Why should I buy real estate when the stock market is so easy?"
--Warren Buffett

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Holiday Gift Idea:
One of most entertaining and educational book on the stock market! A
funny stock market primer for both kids and professionals.
Joel Greenblatt's "The Little Book that Beats the Market":
http://www.amazon.com/exec/obidos/ASIN/0471733067/zenway-20/

Audio Interview of Joel Greenblatt
The Magic Formula that Beats the Market:
http://www.npr.org/templates/story/story.php?storyId=5036846

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Buffett vs. Trump (by Richard Gibbons)
http://www.fool.com/news/commentary/2005/commentary05120705.htm
[Z-digest]
- Buffett's strategy is to hire intelligent, energetic people with
strong integrity who are passionate about their business.
- Keys to success: Interestingly, both Buffett and Trump suggest
similar keys to success. Both read extensively -- Buffett reads five
newspapers daily, while Trump reads seven. Both recommend that people
work in jobs they love. Buffett seems to feel life is too short to
spend it doing a job you hate, while Trump notes that he's "never seen
anyone succeed who didn't love what they were doing."
- Similarly, both emphasize persistence, though once again, they
approach the topic differently. Buffett recommends patience -- if you
don't find a good investment, keep looking. Trump notes, "If there is
a concrete wall in front of you, you have to go through it." Buffett,
I think, would instead suggest looking for a path around it -- or a
shorter wall.
- Investment strategy: Buffett is a patient investor and a superb
capital allocator. While he's willing to buy average businesses at low
prices, he prefers to buy wonderful businesses at fair prices. He
generally isn't a trader -- his favorite holding period is forever.
While he has bought REITs for his personal portfolio, he generally
avoids real estate,
saying, "Why should I buy real estate when the stock market is so easy?"
- Trump, a dealmaker, a real estate developer, adds value by
renovating, developing, managing, and rebranding his real estate. He,
too, has a value investing strategy, noting, "The best deals are made
when no one else wants them." (Link provided by David Dah Hui Lau)

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Benjamin Graham on Bond Investing
http://tinyurl.com/9dxf8

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How to Analyze a Company's Competitive Advantages
An introduction to economic moats
by Pat Dorsey
http://tinyurl.com/akv2u

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About Enlightened Investor Digest (Deluxe)
http://www.zenway.com/eid
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(Subscribers of EID should have read the attached EID issue on Joel
Greenblatt's lecture at NYSSA. But it is worth a re-read and a re-read
again. As Confucius said: "Review old lessons to gain new insights.
What a joy!"