Introducing Quality Value Investing
Introducing Quality Value Investing
Uncovering the winning stocks of enduring enterprises
Summary:
Quality Value Investing (QVI) is for everyday investors seeking to build or maintain common stock portfolios toward funding life’s significant milestones.
The pursuit of excellence in longer-term, buy-and-hold stock investing is broad in scope, where all levels of investors participate with the potential to prosper.
Nevertheless, Quality Value Investing rejects nearsighted trading schemes, deep-dive predictive analysis, and speculative growth stories for hopeful—although improbable—quick financial gains.
On the contrary, QVI’s stock picks have collectively achieved alpha by investing in the current wealth of its representative companies and the present value of their common shares instead of paying heed to Wall Street’s traditional reliance on forecasting and business modeling overkill.
For the benefit of premium subscribers, several tools are offered immediately, including new subscriber onboarding, a glossary of investing terms and metric targets, portfolio performance trackers, a portfolio user guide, the inaugural monthly course module, and the archives of QVI posts.
Editor’s Note: The primary purpose of this informational and promotional post is to introduce Quality Value Investing by David J. Waldron to readers on Substack and inspire subscriptions to the newsletter from interested investors.
Quality Value Investing (QVI) is an individual investor-centered service using well-planned and executed real-time portfolios of total return common stocks as a case study on the merits of buy-and-hold, value-based, retail-level investing.
QVI is for everyday investors seeking to build or maintain a portfolio to fund life’s significant milestones, such as buying a home, paying for a college education, sponsoring a wedding, pursuing a passion, starting a business, or enjoying a comfortable retirement.
Quality Value Investing speaks to retail investors who are thoughtful about the continuous improvement of investment wisdom; disciplined to conduct the due diligence toward discovering quality, publicly traded companies with common shares exhibiting wide margins of safety; and patient in waiting for the compounding of capital gains and dividends to build personal wealth over time.
If this opening hits home, you are encouraged to subscribe to QVI’s high-value, low-cost platform, including a 7-day free trial, and join an investment community dedicated to finding value and building wealth without subsidizing the Wall Street fee machine.
Readers Best Served
Pursuing excellence in long-term, buy-and-hold common stock investing is broad in scope. Thus, active investors are encouraged to initiate a free (previews only) or upgrade to a premium subscription (full text and resources) regardless of specific niches. Although Quality Value Investing welcomes every investor to participate and benefit, the platform best serves the following pre-retirement retail investor profiles.
Investors that are seeking to open or maintain existing personal brokerage or tax-deferred accounts, such as a 401(k), 403(b), individual retirement account (IRA), Roth IRA, 529 tuition plan, or similar products offered outside of the USA. They want to establish or build upon a self-managed, buy-and-hold investing approach to personal money management.
Investors who retain professional money management, such as a registered investment advisor, licensed broker/dealer, certified financial planner, or rely on a family member to oversee their brokerage or tax-deferred investment portfolios. They want to improve their understanding of the active portfolio management process, facilitating valuable communication and adequate oversight of the money manager.
Investors who enjoy acquiring new ideas to meet the everyday challenges of personal finance. Money is often taboo in our lives; therefore, Quality Value Investing is designed as a straightforward and safety-minded vehicle to explore the thoughts, ideas, and challenges of do-it-yourself investing. Subscribers that constructively disagree or outright dismiss some of the principles, strategies, and practices shared in the newsletter are welcomed; the intent is for readers to take what is needed and leave the rest.
Investors already committed to—or with a keen interest in—the value investing model of buying predominantly dividend-paying common shares of excellent businesses when trading at reasonable prices. The value model was invented by the late Columbia Business School professors Benjamin Graham and David Dodd and made famous by professional investors Warren Buffett, William Browne, Joel Greenblatt, Seth Klarman, Peter Lynch, Howard Marks, Charles Munger, John W. Rogers Jr., Charles Royce, Geraldine Weiss, and Martin Whitman, among other legends.
What to Expect (and Not Expect) from QVI
Quality Value Investing aims to create value for subscribers by centering on how to screen, research, and select potential ownership slices of publicly traded companies offering enduring legacies to stakeholders, inclusive of customers, employees, vendors, suppliers, regulators, the community at large, and present or future shareholders.
Out of respect for its subscribers, QVI rejects any short-term trading schemes for hopeful—although improbable—quick financial gains using controversial investment vehicles. Hence, the platform discourages options, futures, event arbitrage, currencies—whether crypto or sovereign—commodities, trend following, short-selling, technical analysis, swing trading, momentum growth, high-yield dividends, price targets and alerts, trading algorithms, margin accounts, deep value, or any trading schemes deployed in the hopes of acquiring fast money. Instead, QVI concedes those speculative ventures to professional traders, market gamblers, and the Ouija board.
Also absent is investment advice directed to the unique financial situation of its readers. Per securities laws and regulations, the text must maintain an impersonal narrative. QVI is devoted to sharing broad ideas based on personal experience. Consider the founder and contributing editor, David J. Waldron, an educator and well-intended enabler—as opposed to a stock market guru—for the benefit of do-it-yourself everyday investors.
As of this Introduction’s writing, David’s real-time family portfolio has outperformed its benchmark since June 2009 by a significant average margin of each representative holding. Moreover, the market-beating performance continued during the COVID-19 coronavirus pandemic and the subsequent 2022 bear market that rendered the stock market as volatile and unpredictable as the financial crisis and the Great Recession of 2008–2009.
QVI’s stock picks have collectively achieved alpha by investing in the current wealth of the constituent companies and the present value of their common shares instead of paying heed to Wall Street’s traditional reliance on predictive analysis and speculative growth.
QVI Principles, Strategies, and Practices
Self-directed common stock investing is simple, although never easy; doable, albeit intimidating. Nevertheless, uncomplicated, focused research conducted with thought, discipline, and patience has more significant potential to achieve alpha over an extended holding period.
Whimsical references to “the market” throughout Quality Value Investing posts represent the aggregate of fickle retail and aggressive professional investors who are lost in the crowd and ruled by emotions or greed in buying and selling investment securities.
QVI presents several principles, strategies, and practices of profitable investing that, when implemented with consistency by long-view individual investors, have the potential to produce alpha-achieving portfolios. During twenty-plus years of active investing, David discovered several essential standards—or value investing principles—that, when merged with a handful of fundamental measures of a targeted company, often pointed in the general direction of the forward-looking, long-term performance of the underlying stock.
Strategically, David analyzes several areas of a company and its common shares. His simplified research methodologies define the value proposition or economic moat, quantify shareholder yields or the equity bond rate, measure fundamentals or the returns on management, weigh the stock’s valuation multiples or intrinsic value, and assess the overall downside risks. Ruled out are businesses deemed as lacking within these targeted traits.
Through newsletter posts, online course modules, research reports, and real-time portfolios, David pulls the principles, strategies, and practices of Quality Value Investing together for subscribers to build potential market-beating, well-allocated, low-cost, common stock portfolios.
QVI subscribers discover how to construct a bottom-up research approach to stock picking that acknowledges and accounts for stakeholders in the company, including the board of directors and senior management. In addition, it treats the market as a stakeholder, if only for a contradictory confirmation of the investment thesis.
By focusing research on fantastic companies with ethical management generating consistent, organic revenue growth, sustained profitability, adequate free cash flow, and high returns on working capital, market-beating portfolios are possible for dedicated, retail-level Main Street investors. QVI’s mission includes teaching subscribers how to uncover, buy, and hold the value-priced common shares of great businesses producing quality products and services for customers and generating long-term, total returns in capital appreciation and income for shareholders.
Are you ready to apply alpha-achieving principles and strategies like those presented in Quality Value Investing in your workplace or individual retirement accounts, tuition savings plans, or taxable brokerage accounts?
Do you have the ingredients to succeed as a retail-level everyday stock investor through each market cycle?
Please consider a premium subscription, including a 7-day free trial, as you probably have the innate ability to succeed or are already applying many of the principles and strategies with opportunities to improve your success as an individual investor further. A primary objective of QVI is to facilitate self-awareness and fill in the blanks as warranted.
The QVI Real-Time Stock Picks
The QVI Real-Time Portfolios are equal-weighted—each holding has the same prorated amount invested—against the broader market benchmark based on the initial stock purchase dates or the original publication of the underlying research. Nevertheless, remember that past performances are never a reliable indicator of future returns.
The QVI Concentrated Portfolio illustrates and gauges the financial and business metrics of a basket of the common shares of publicly traded companies that constituted David’s actively managed core family portfolio at the time of writing this Introduction. The QVI Expanded Stock Picks represent all the shares of high-quality companies covered in David’s research reports.
Real-time portfolio performance trackers average several key financial indicators. In addition, the portfolios provide a comparative analysis of the overall performance of the representative companies and their underlying stocks using the financial and business metrics discussed throughout Quality Value Investing’s newsletter posts, course modules, and research reports.
To closely follow the activity of the QVI Portfolios, interested readers can take advantage of a premium, high-value, low-cost monthly or annual subscription on Substack, including a 7-day free trial.
Disclosures
When writing this Introduction, David’s real-time family portfolio—as illustrated in the public version, the QVI Concentrated Portfolio—held long positions in the common shares of 18 publicly traded companies. In addition, the QVI Expanded Portfolio presented 20 large-, mid-, and small-cap stock ideas of David’s, not owned in his family portfolio.
Besides owning shares of common stock and consuming some products or services, the author and his immediate family have no other business relationship with the publicly traded companies held or researched. As a result, the author may add or remove positions from his family or QVI portfolios without public disclosure.
Disclaimers
Quality Value Investing by David J. Waldron presents source material as general information for reference by interested subscribers. The accuracy of the data cannot be guaranteed. Narrative and analytics are impersonal and neither tailored to individual needs nor intended for portfolio construction beyond QVI’s model portfolios presented solely for illustration. David is an author and individual investor, not an investment advisor. It is the reader's responsibility to engage in independent research or due diligence. Consider consulting, if appropriate, a fee-only certified financial planner, licensed discount broker/dealer, flat-fee registered investment advisor, certified public accountant, or specialized attorney before making any investment, income tax, or estate planning decisions.
Additional Disclaimers
The QVI Real-Time Portfolios provide a nondiversified, narrow snapshot of collective company components for comparative research. Each portfolio is neither a marketable security nor intended for investment advice or portfolio construction. Accordingly, present and past illustrative performances of the QVI Portfolios are neither a guarantee of the actual or future performance of its constituent companies, sectors, and industries nor the stock market as a whole.
The QVI Real-Time Portfolios are owned, maintained, and published for the primary financial benefit of the author’s immediate family and as an educational platform for the premium subscribers of Quality Value Investing on Substack. Therefore, copying, marketing, benchmarking, or disseminating the QVI Portfolios is forbidden without the author’s express written permission.
The reader is expected to understand and accept the disclosures and disclaimers written in this Introduction before subscribing and enjoying the entirety of the Quality Value Investing platform. By implementing any of the principles, strategies, and practices shared in QVI, subscribers accept total liability for any investing failures or missed expectations. The subscriber is solely responsible for their personal financial decisions.
Financial Services Industry
Although Quality Value Investing takes a skeptical view of Wall Street—a euphemism for professional or institutional investing anywhere in the world—it neither implies nor expresses specific issues with or negative references to any actual organizations or individuals existing or working in the financial services industry. Any perceived connection or offense to actual firms or real persons is coincidental and unintentional. In its general lament of the Wall Street way, QVI abstains from unproven conspiracy theories and presents a narrative platform of commentary, critique, education, and parody.
In the world at large, facts are indeed exempt from any alternative paradigm; thus, the subjective thoughts shared by the author throughout Quality Value Investing’s posts are his opinions and, therefore, independent from fact.
Share or Gift the Resources of Quality Value Investing
Access to the QVI educational posts, course modules, research reports, real-time portfolios, and additional resources is exclusive to premium subscribers on the monthly or annual plan, including the 7-day free trial period. The author makes a living on passive earnings such as investment-related capital gains and dividends, net subscription fees, and book royalties. If you find value in QVI’s mission, reward yourself with a premium subscription, recommend the platform to a colleague, friend, or family member, or buy a gift subscription for someone special.
For the Benefit of Subscribers
Several investing tools are offered immediately to paying subscribers, including New Subscriber Onboarding, Glossary of Investing Terms and Targeted Metrics, Portfolio Performance Trackers User Guide, the Concentrated and Expanded Real-Time Portfolios, Course Module 101: The Elements of Quality Value Investing (releasing in January 2023), and, ultimately, the archives of all QVI posts.
New subscribers are encouraged to bookmark the Free Subscribers or Premium Subscribers and Investing Resources sections on the Quality Value Investing Substack Website and refer to each as needed. In deference to the proliferation of abstracts in publishing, each QVI post begins with a bulleted summary. You are encouraged to use the lists for initial interest or review and clarification while reading and quick reference later.
Welcome to Quality Value Investing
The investment principles, strategies, and practices shared throughout Quality Value Investing are cultivated from David J. Waldron’s more than twenty years of learning and implementing the growth and preservation of wealth from self-directed investing. QVI is a sincere and enthusiastic attempt at sharing a personal experience with subscribers from every level of the retail spectrum toward mutual investment nirvana from the magic of compounding protected by a wide margin of safety.
Please consider a free (previews) or premium (full text and resources) subscription, including a 7-day free trial. David looks forward to welcoming and serving you.
About the Author
David J. Waldron is the founder and contributing editor of Quality Value Investing and author of the international-selling book, Build Wealth With Common Stocks. David’s mission is to inspire the achievement of his readers’ financial goals and dreams. He received a Bachelor of Science in business studies as a Garden State Scholar at Stockton University and completed The Practice of Management Program at Brown University. David and his wife, Suzan, reside in historic South Central Pennsylvania, USA.
Preview the Book
Readers can preview David’s book: https://davidjwaldron.com/build-wealth-with-common-stocks.html, including links to over 25 booksellers worldwide.
Founding Members of QVI on Substack receive a personalized complimentary copy of the case laminate hardcover edition of the book from the author.
