Tweedy, Browne: “What Has Worked in Investing”

by Wayne A. Thorp, CFA

Tweedy, Browne: “What Has Worked In Investing” Splash image

Many individual investors embody value investing—Benjamin Graham and Warren Buffett immediately come to mind. Among investment management firms, perhaps none is as devoted a follower of the principles of value investing as Tweedy, Browne Company.

In his book “Smarter Stock Picking” (FT Press, 2010), David Stevenson wrote: “Graham may be the patron saint of most value-based investors, but it’s Tweedy, Browne who are the Jesuits—the brains behind the scene who bother to work it all out and put it into practice.”

In 1992, Tweedy, Browne published “What Has Worked in Investing: Studies of Investment Approaches and Characteristics Associated With Exceptional Returns,” a paper outlining many of the key characteristics of their own long-term investment portfolios. This article, which was revised in 2009, is available for free from the Tweedy, Browne website: www.tweedy.com/resources/library_docs/papers/WhatHasWorkedInInvesting.pdf.

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Wayne A. Thorp, CFA is a vice president and senior financial analyst at AAII and editor of Computerized Investing. Follow him on Twitter at @AAII_CI.


Discussion

Clay from Iowa posted over 3 years ago:

Where is the article? I logged in.


Marvin from Ohio posted over 3 years ago:

A problem I struggle with is sorting out different analysis approaches. For instance, one author will say to look for high dividend yields while another will say that high dividends suggest underlying problems. It seems I can always find a reason to not buy a stock (sometimes referred to as analysis paralysis). It is possible I have read too many books and articles. It would be greatly helpful to me to see an AAII article on the general subject of how to sort through the clutter and arrive at a personal strategy for analyzing stocks.


Charles Rotblut from Illinois posted over 3 years ago:

Thanks for the suggestion Marvin.


Tarek from Massachusetts posted over 3 years ago:

I agree with you Marvin,thats happen to me too.


James from Georgia posted over 2 years ago:

Will this screen be available in Stock Investor Pro?


Larry from New York posted over 2 years ago:

I have the same question as James from Georgia - when will this screen be available in Stock Investor Pro


Donald from Florida posted over 2 years ago:

I wish that you would put the shorts back on your SIP, It is too easy to get slaughter with small caps without that information.


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