John Neff
John Neff⚖️ Value Assessment

John Neff's Value Assessment 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...

4 principles·Value Assessment

4 Key Value Assessment Principles

#1

Low P/E Investing

"Buy stocks with low P/E ratios relative to their growth rates. The market often overreacts to bad news."

Buy low P/E stocks with growth potential when markets overreact to bad news.

🌿 Intermediate★★★★★
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#2

Total Return Focus

"Look at total return: earnings growth plus dividend yield. Both matter for wealth creation."

Total return equals earnings growth plus dividend yield for wealth creation.

🌿 Intermediate★★★★★
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#3

Contrarian Value

"Buy when others are selling. The best opportunities are in stocks that are out of favor."

The best opportunities emerge in out-of-favor stocks when others are selling.

🌿 Intermediate★★★★★
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#4

Moderate Earnings Growth

"You dont need high growth. Moderate, sustainable growth at a low P/E beats expensive growth stocks."

Moderate sustainable growth at low P/E beats expensive high-growth stocks.

🌿 Intermediate★★★★★
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Frequently Asked Questions

What are John Neff's key value assessment principles?

John Neff has 4 key principles on value assessment. The most important one is "Low P/E Investing" — Buy stocks with low P/E ratios relative to their growth rates.

How does John Neff apply value assessment in practice?

John Neff applies value assessment through several key principles including "Low P/E Investing" and "Total Return Focus". These principles guide practical investment decisions and have been tested across decades of market cycles.

What makes John Neff's approach to value assessment unique?

John Neff's approach to value assessment is distinguished by a focus on long-term thinking and fundamental analysis. With 4 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.

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