#1
Quality at a Fair Price
"The ideal investment is a high-quality business purchased at a fair price. Quality compounds wealth; fair prices protect capital."
Seek quality businesses at fair prices.
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John Neff📌 Stock Picking
John Neff's Stock Picking Rules
John B. Neff (September 19, 1931 – June 4, 2019) was an American investor and mutual fund manager. He managed the Vanguard Windsor Fund from 1964 to 1995, achieving an average annual return of 13.7%, outperforming the S&P 500 by over 3% annually for 31 years. Neff was known as a "low P/E investor," consistently seeking undervalued stocks that the...
3 principles·Stock Picking
3 Key Stock Picking Principles
#2
Understand Before Investing
"Never invest in a business you cannot explain in simple terms. If you can't describe why a company is valuable, you don't understand it well enough to own it."
Only invest in what you can explain simply.
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Catalyst-Aware Stock Picking
"Look for investments where a specific catalyst will unlock value. Without a catalyst, even cheap stocks can remain undervalued indefinitely."
Identify specific catalysts that will unlock value.
Read Full Analysis →Frequently Asked Questions
What are John Neff's key stock picking principles?
John Neff has 3 key principles on stock picking. The most important one is "Quality at a Fair Price" — The ideal investment is a high-quality business purchased at a fair price.
How does John Neff apply stock picking in practice?
John Neff applies stock picking through several key principles including "Quality at a Fair Price" and "Understand Before Investing". These principles guide practical investment decisions and have been tested across decades of market cycles.
What makes John Neff's approach to stock picking unique?
John Neff's approach to stock picking is distinguished by a focus on long-term thinking and fundamental analysis. With 3 specific principles in this area, John Neff provides a comprehensive framework that investors at any level can study and apply to improve their decision-making.
