La estrategia net-net de Benjamin Graham: inversión deep value en su forma más extrema
La inversión en valor neto-neto (net-net investing) se vuelve peligrosamente fácil de malentender en el preciso momento en que entra en un stock screener….
Samuel Jeffery is an award-winning media publisher and quantitative investment strategist who has spent over 15 years building verified digital authority. As the creator of Picture Perfect Portfolios, Samuel pioneered the concept of "Expanded Canvas Portfolios"—a proprietary framework that utilizes capital efficiency and return stacking to help sophisticated DIY investors move beyond the limitations of the traditional 60/40 model.Originally known for his work as "Nomadic Samuel"—where he earned two World Travel Awards for global marketing campaigns—Samuel pivoted his obsessive research skills to quantitative finance in 2020. His unique "Global Macro" perspective is informed by real-world survival; living in high-inflation economies like Argentina (and growing up in the boom-to-bust town of Gold River, BC) taught him that purchasing power preservation is not theoretical, but existential.Central to his strategy is the "1-2-3 Allocation Framework," a hierarchical approach to portfolio construction designed to weather any economic climate. Unlike traditional models that focus solely on asset selection, Samuel’s methodology prioritizes Capital Efficiency (expanding the canvas) as the foundation, secures safety through Maximum Diversification (incorporating uncorrelated alternatives), and seeks structural alpha through Factor Optimization.Today, Samuel’s research on Systematic Asset Allocation, Managed Futures, and Trend Following bridges the gap between institutional-grade strategies and the retail brokerage account. His work and portfolio models have been featured or cited by industry leaders including Nasdaq, Investing.com, Standpoint Funds, Moontower, Mount Lucas, Convexity Maven, and Alpha Architect. He does not just write about these strategies; he invests his own net worth in them.
La inversión en valor neto-neto (net-net investing) se vuelve peligrosamente fácil de malentender en el preciso momento en que entra en un stock screener….
Net-net investing becomes dangerously easy to misunderstand the moment it enters a stock screener. The screen produces a company whose market capitalization sits below…
El margen de seguridad (margin of safety) se convirtió en una de las etiquetas más halagadoras del mundo de las inversiones. Estimás el valor…
Margin of safety has become one of investing’s most flattering labels. Estimate a company’s value. Knock 20% or 30% off the result. Announce that…
La “inversión defensiva” se convirtió en una de esas etiquetas que el mundo de las finanzas le pega a cualquier cosa que use corbata…
“Defensive investing” has become one of those labels finance attaches to anything wearing a tie and speaking quietly. A portfolio owns large companies, dividend…
La gestión activa siempre corrió con una ventaja conversacional enorme: solo necesita un héroe. Mostrás un administrador brillante, un historial extraordinario o un fondo…
Active management has always enjoyed a conversational advantage: it only needs one hero. Produce one brilliant manager, one extraordinary track record or one fund…
John Bogle hizo que invertir parezca tan simple que la gente pasó décadas buscando formas recontra rebuscadas para evitar hacerlo. Mantené los costos bajos….
John Bogle made investing sound so simple that people have spent decades finding elaborate ways to avoid doing it. Keep costs low. Diversify broadly….
John Bogle ganó la discusión de una manera tan rotunda que la industria de los fondos, con el tiempo, aprendió a falsificar el lenguaje…
John Bogle won the argument so completely that the fund industry eventually learned how to counterfeit the language of his victory. Low cost. Passive….
Hay un insulto oculto dentro de la inversión pasiva (passive investing), y la mayoría de la gente pasa años negándose a mirarlo a la…
There’s an insult buried inside passive investing, and most people spend years refusing to look at it directly. It isn’t that Wall Street charges…
Una comisión anual del uno por ciento rara vez parece peligrosa. Parece un simple trámite de oficina: una línea en el prospecto, un porcentaje…
A one-percent annual fee rarely looks dangerous. It looks clerical: a line in a prospectus, a percentage on an account statement, a charge small…
Los errores más caros en la construcción de una cartera de inversión indexada o activa rara vez nacen de pifias matemáticas. La posta es…
The costliest mistakes in individual portfolio building rarely stem from pure mathematical errors. Instead, they usually flow from a fundamental failure of classification: treating…
Entrás a un local de retail explotado de gente un sábado a la tarde, mirás la tremenda fila que se arma en la caja…
Walk into a crowded retail storefront on a Saturday afternoon, notice a lengthy queue forming at the cash register of a popular boutique clothing…
