Stock Market Consulting – September 2018 (Value Investing FM) – Investment Academy – Learn value investing from scratch

As happens on the last Sunday of each month, here is the stock exchange office for September 2018 in which Adrián Godás and Paco Lodeiro answer the questions of the listeners.

On this occasion, we cover topics such as eToro, accounting traps, investing in funds, stop loss, goodwill, video games, various brokers (DeZiro, Ninety Nine, ING and Naga), life-changing readings, fracking, Josef Ajram, investing in Turkey, three-legged stools and some companies such as Petra Diamonds, New Gold, Yellow Cake, Ingotes Especiales, Cameco or Sociedad Química y Minera de Chile.

Tabla de contenido

  • When to sell shares on the stock market: The 5 reasons

About Yellow Cake

Good afternoon, through Adrián's Twitter I have seen the uranium company Yellow Cake that has also bought it azValor. Could you give a little brushstroke regarding this company in order to understand it better? of the uranium ones it is the one that I find the hardest to understand. Thank you very much for your program


About Cameco

¿Opinión de Cameco?


About Special Ingots

Good a great podcast keep it up. A question What do you think of Special Ingots after the Ibex descents? Thanks a greeting and good work;)


About la EAFI

Hi Paco, I leave you a question for the next office, I already left it for you in the Finect video. Will the EAFI that you are considering in the future be “skin in the game style”?

(Manuel Fernandez)

Sobre Sandstorm Gold

In this chapter you comment that Sandstorm Gold has not changed in price despite such a good investment in the Turkish mine. However, looking at the SAND ratios I see that it has a fairly high PER. Depending on the Screener I get out of the environment 180 times. Isn't this index a bit high to enter SAND?

Sobre drawdowns y stock picking

After Paco shared his portfolio management results in recent years with extraordinary results - congratulations, by the way - I had another couple of questions for the next practice, what or what have been the biggest drawdowns of your portfolios? It is an important piece of information to take into account and that should always accompany performance data since, although in the value world we see bear markets as opportunities and we assume that we are going to have large losses at certain times, the level still seems relevant to me. of suffering that you have been able to bear.

Finally, if there were a large bear market, in late 2008 plan, how would you make the choice between the large number of companies that would be available, would you opt for large companies with proven businesses unjustifiably punished, even if they offered a performance theoretical lower or would you build small companies with a higher expected return even if they were susceptible to suffering a much greater short-term punishment in addition to having businesses with a higher level of uncertainty?

(Alberto Barea)

About the Chemical and Mining Society of Chile

As you follow the method of sharing ideas with colleagues, I leave you with my idea that I hope you will like and that I hope at least deserves your analysis: a cyclical commodities company that can benefit from growth expectations, domiciled in an emerging country but supervised by the SEC, market with entry barriers, the one with the lowest production costs (tremendous moat) partially controlled by a shareholder (Pinochet's son-in-law), low capitalization and punished by the market so far this year for a bearish analyst report on raw materials that there is no where to take it ... they cross out, cross out ... the company is a Chilean, Sociedad Química Minera dedicated to lithium, fertilizers, iodine and salts applied to solar panels.

(Juan Ignacio)

About the Ninety Nine broker

For the podcast, I would like to propose an analysis or as a question from the office, of the new broker that will start operating in Spain in the coming months without commissions "Ninety Nine", promising to copy the Robinhood scheme in the USA, for a very good option That Interactive Brokers is, 0 commissions, regulated and guarantee of € 100000 is something difficult to beat, but I don't know if something escapes me because of my limited experience, I suppose it is a topic that interests many listeners.


About Josef Ajram

Hello good evening, I would like to know what you think of the speculation method used by Josef Ajram, which speculates in the short term in stocks using stop loss?

According to his theory, it is the most profitable since in the long term we have the possibility that in the event of any catastrophe our investment falls and we cannot do anything.

Thanks in advance, regards.


Where to get financial information

Hello Francisco Javier !! My name is Juan Lemuun Tempesta, I was looking at your website and what you are saying about Value Investing seems very interesting to me, what I would be interested in consulting you is where you get the information from the companies to carry out the valuation process and thus be able to analyze and value the themselves,

I await your response thank you very much .

Greetings from Argentina !!

(Juan Lemuun Tempesta)

About ING's Orange Broker

Good afternoon Paco,

I'm taking your introductory course on the stock market and I had a question that you can clarify for me. How does the ING broker work? Now they have a promo of € 50 (less retention of course, hahaha) and 3 months that return the sales commissions. I have seen that they have very small markets but I am valuing it as a touchstone. In the USA, UK and Germany I see interesting things and this broker should give me access to it. I know IB has many more markets (I'm with the demo) but I'm tempted to take advantage of the offer. I know from your comments that you previously operated with them and also with IB. Is it too cumbersome in the future if I want to transfer my portfolio to IB?

A greeting!

(Martín Rodríguez)

About Naga Brokers

What is your opinion of "Naga Brokers"?

a greeting

(Jose Andrés)

About investing in Turkey

Speaking of Turkey, two questions: - Do you cover currency? - Have you seen the Koç Group, it is a family business, holding company ... ??

(Fer Solís from Twitter)

On bureaucracy when using foreign brokers

They had told me about De Giro, would you advise me? I had also read that if you have your money with a foreign broker then you have to submit a form if you have shares at the end of the year, the D6 model, is this an inconvenience or not, if you save a lot with one broker than with another?

On the other hand, when you operate in the US Stock Exchange, for example, do you get the dollar change that is in that moment or is it not changed?

THANK YOU very much, I am finishing the 2 mail of the free stock market investment course.


(Germán Sferco)

On three-legged stools from the Spanish bag

Thanks a lot for sharing your experience.

If you allow me, a question, in addition to Altia and Barón de ley, two more Spanish women who meet the three legs of the stool?

Thank you very much in advance.

I keep listening to you on the podcast.

(Javier Pintado from Twitter)