Get your investing questions answered by Paul and Graham...

Building on @pgs501's point above, how do they decide in general that it's time to sell a holding? That's a more difficult decision for me than the buying.

We often hear about cutting losers and running winners. How quickly would they typically cut a losing position if the investment case in their head is still as strong as ever but the share price is drifting further and further down? When would they decide they must have made a mistake and cut their losses? Or indeed would they average down when sure?

Edit: do you generally cut based on percentage loss or time the investment has been held?

1) What personal bias' do they have, and how do they keep them under control?
2) What plans do they have for an eventual bear market?

How are they factoring Brexit into their investment decisions and a potential fall in the pound. e.g. Are they going to increase their holdings in stocks outside the UK and reduce their holdings in UK stocks, or avoid certain sectors, or over weight companies that they think might be beneficiaries of Brexit, or over weight UK listed companies that have a high proportion of their business conducted outside the UK etc.

I would be interested to hear how Graham and Paul make use of Stocko in their research (apologies for partial repetition of some of the comments above).

Do they use it to screen out/select stocks?
Do they use it first to make a short list for further due diligence or as a reference to rubber stamp/challenge their views on a stock they have identified from another source?
How much do they rely on the accuracy of the Stocko data i.e. Do they always check back to annual reports, analyst research etc., to verify data?
What do they think the main deficiencies/gaps are with Stocko as a research tool?
What other tools/softwares do they find useful?
Do they find Stocko particularly good/bad in accurately identifying stocks for certain industry groups or sectors? (I sense that Stocko is relatively poor as a filter for Resource and O&G stocks but much stronger for mainstream manufacturing and service businesses though have no evidence to back this up).
If applicable, what have been their best/worst outcomes to date from stocks picked/sold on the basis of research attributable to Stocko?

Thanks.

Gus.

Ben, It was a great idea to have an interview with our heroes!

Their number of holdings.

Do they have any rules about this?
What are they?
Why do they have them?
Do they stick to them?

If they had portfolio of say 400k how many positions would they hold for diversification but without holding to many where it became difficult to track well.

When looking at a stock on main stocko page what key metrics do they look at the quick wins to rule out any dogs.

What's happening in Oxford next week??

Momentum / high growth shares seem to be experiencing a bit of a pullback in share price at the moment. Have they spotted whether other types of shares or strategies are doing a bit better right now? Have they shifted their personal strategies over the summer and autumn?

1) What skills do they think they can improve on to improve their performance?

2) which of the traditional investing biases do they think they are most susceptible to, and do they do anything to try and correct this?

Why are you really there? :) Are you getting a preview of the new site (after all 2017 is over soon) and if so, after your exposure to its features, do you think it'll tweak your analysis approach? I quite understand that you might not be able to answer this one (yet).

BMW?!

1) What's been your biggest mistake when investing?

2) How would you go about investing a relatively small amount - Say £5k with a monthly additional £500 without getting swallowed up by commision and spread?

3) Knowing that Paul is a keen petrolhead... favourite car?

My questions are:

1) Do they use screens to search for new share ideas and if so, it would be useful if they could share them or the key criteria they use?
2) How do they approach risk/reward when considering new purchases or topping up existing holdings and conversely when do they consider selling a holding, since my understanding is neither of them use limits or stop loss levels?
3) If they were to start their share investment journey for the first time now (in a bull market) with say £30k-£50k, would they run concentrated portfolios of say 6 shares or split the cash sum into a set amount e.g. no more than say 10% into any one share?
4) I think it would be great if you could do some articles on the key elements to look out for/assess when looking at P&L and BS.

I would love a video of each of them going through a couple of varying actual balance sheets to show how they approach them. Paul has done similar in the past.

Also if they have a SIPP do they approach investing in a SIPP (or pension plan if Graham is headquartered in another country) differently to other investments? Could they explain what the differences are and how they structure their investments in it accordingly?

Paul often refers to 'balance sheet health' is there a handful of key items that can give a rough and dirty take on this, that he and/or Graham look for: such as NTAV, borrowings, current ratio. What would they say are the key items to sift the bad from the good, in respect of balance sheet analysis.

I am considering subscribing to a Level 2 data feed. Which service(s) would they recommend?

My question are:
1) Where do they get their best ideas on which companies to investigate for possible share purchases?
Eg Results statements, trading updates, their own screens or whatever
2) Why does their preferred method work better for them than possible alternative methods of generating ideas?

According to Michael Mauboussin (CSFB), sales growth is the biggest value driver

Would Graham/Paul differ as to what the key creator of value for shareholders is?

Graham mentioned in a previous post he was concidering running a course/seminar to teach us to be better investors

https://www.stockopedia.com/content/graham-amp-paul-206544/

any developments or news, hopefully he wasnt teasing us as i'd be well up for it

I want to know the key figures they look at. And if they are any "quick" ways to spot artificial profits, assets on the balance sheet over-stated, liabilities under-stated and unreasonable capitalisation of costs into intangibles.