What is Value Investing Substack?

"Value", as defined in Value Investing, is simply the gap between what something is worth and its price.

The father of Value Investing, Benjamin Graham, defined an investment as an "operation which, upon thorough analysis, promises Safety of Principal + Satisfactory Return". (i.e. risk:reward of bonds)

The endgame objective of Value Investing isn't maximum returns, but LT Arbitrage. True business ownership in stock markets just empirically happens to be the best way to achieve this goal.

Paid subscribers can come to expect institutional-level stock research, like the following posts:

Value Investing Substack
TL;DR on SVB Financial in <1,800 words (BULLET POINTS!)
There have been a number of excellent articles covering the recent SVB Financial debacle (linked below). However, I was surprised by the number of people who reached out to request a TL;DR version of the events — prompting me to quickly bang this article out for those who want a quick recap…
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Value Investing Substack
🚅 US Railroad Industry Primer - The Picks & Shovels of the US Commodities Sector
This free article is a special user request from one of our subscribers in our exclusive Telegram group - and sponsored by Stratosphere.io. Click here to read the follow-up NYSE:CNI report…
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Value Investing Substack
META: Connecting People <Nokia jingle>
Dear Mark, A few weeks ago, Altimeter Capital CEO Brad Gerstner and longtime shareholder of Meta wrote an open letter to you and the rest of the team at Meta - humbly requesting that you guys pay more attention to the company’s deteriorating share price, and the gradually hostile investor sentiment towards your company. Basically he was telling your team to shape up or ship out - with the main vex of his letter being your company’s large cash burn in the Reality Labs segment (i.e. Metaverse…
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Value Investing Substack
🌊 NYSE:SE - Shopee: The King of S&M (sales & marketing exp)
Click here to read this stock report in your browser - emails may not reflect any subsequent editing! Also, paid subscribers can join our Telegram group chat by clicking here. In this report, we shall attempt to evaluate the historical performance of SEA Ltd’s e-commerce marketplace Shopee - using GAAP accounting metrics, considering how unreliable non-GAAP metrics have been in the recent past…
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Value Investing Substack
✨ BJCORP Accounting Deep-Dive - Part 3c: Cash Flow Statement
Happy New Year! This is the 3rd part of a 4-part series to BJCORP Part 3 - which I’ve made free as my New Year’s present to all of you! Click these links to read Part 3a and Part 3b…
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Value Investing Substack
🇲🇾 Malaysia 4Q + FY2022 GDP Review - How Malaysia Achieved One of the Highest FY22 GDP Growth In The World (+8.7%)!!
All screenshots were sourced from the below Malaysia Q4 2022 GDP report by DOSM: Fitch Ratings just published their ratings report for Malaysia, affirming the nation with a ‘BBB+’ credit rating. I actually finished writing this report just before they published theirs, and they basically agreed with everything I said. Thanks, Fitch…
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Value Investing Substack
Unravelling the Endgame of Trussonomics - What The Heck Was Liz Truss Thinking?
History is written by the victors - and hence it comes as no surprise that Liz Truss’s capitulation from 10 Downing St has resulted in her being branded as incompetence incarnate. But in an alternate universe, her doppelgänger is currently being hailed for the precociousness of her mini-Budget policies - and as the savior of the post-Brexit UK economy…
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Value Investing Substack
What is Value Investing?
Everyone is familiar with the term “value investing” by now. Coined by the ‘Sage of Investing’ Benjamin Graham and popularized by the ‘Oracle of Omaha’ Warren Buffett, value investing has come to be adopted by a legion of investing devout around the world - with 2019’s Berkshire Hathaway AGM being attended by 40,000 attendees. Fun fact: that’s roughly the average attendance of a Taylor Swift concert…
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Value Investing Substack
If Risk Is Not Share Price Volatility... Then What Is It?
Much ado has been made about the academic definition of investment risk (i.e. price volatility) by the value investing community. I have explored the mainstream view concerning risk management at length in my previous articles before (also linked below…
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Value Investing Substack
✨ How To Create A Low-Volatility Value Investing Portfolio
Value investors tend to be volatility-agnostic - which might not be a palatable investment approach to many. By pairing Factor Investing with Value Investing, it is possible to create a Low-Volatility Value Investing Portfolio. This has the benefit of appealing to both crowds - albeit involving some compromises. However, the aggregate value-add can be phenomenal for all parties involved…
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The Value Investing Substack Portfolio Outperformed The S&P500 By Over +16.6% In 2022! Click the link below to find out more!

Value Investing Substack
The Value Investing Substack Portfolio Gained +16.6% In 2022, While the S&P 500 Lost -1.5%
Most of you reading this will know me by now as, “That Value Investing Guy on Substack”, and I have made no bones about the fact that I am a true believer of The Warren Buffett Way of investing. If you are new to this newsletter, allow me to regale my tales about the wonders of the value investing methodology in the articles below…
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Aaron Pek 

"Value", as defined in Value Investing, is simply the gap between the price of something and what it's worth. The endgame objective of Value Investing isn't maximum returns, but LT Arbitrage.