Conference Call Help
Stock market. Reading balance sheets and conference calls?
When choosing a stock how would I go about reading a balance sheet when presented? What am I looking for that indicates a good buy? Any materials recommended to give me the base I need to read effectively? In addition, I would to talk about conference calls. When listening what am I looking for? Any key words or anything you may suggest to help a new comer in analyzing companies data?
Any websites/books to help increase my education?
Cheers!
Daniel
There is no single magic indicator. It also varies by the type of business. You don’t just look at the balance sheet in isolation, but have to look at previous quarters and years for trends. A few key issues:
Short term liquidity.
Overall debt level. Is it conservative or excessive for the type of business?
Were sales turned into cash?
Has there been a bulge in Inventory or Accounts Receivable?
A few excellent investment books:
The Intelligent Investor – Benjamin Graham
A Random Walk Down Wall Street – Burton Malkiel
One Up On Wall Street – Peter Lynch
I can’t think of any web sites worth recommending.
If you have a chance to take any courses:
Accounting (both Financial and Managerial)
Statistics
Finance, especially Portfolio Management and Capital Markets
Economics
Take the time to learn. It will save you a lot of money to avoid the usual beginner mistakes. Develop a sixth sense for scams and spam (lots on Yahoo Answers unfortunately).
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