Exploring Operational Definitions: Part I

An operational definition is a way to define a concept by the set of operations or procedures which are used to make a judgement with that concept. This idea, along with a philosophical thesis on meaning known as operationalism, was popularized by Percey Bridgman (see his The Logic of Modern Physics).

One example he liked to use is the concept of distance.

More on Benjamin Graham and Uncertainty

So in Uncertainty and the Margin of Safety, I suggested that an important concept in physics ought to be applied to investment analysis (and economics for that matter). Furthermore, I suggested that Benjamin Graham's concept of "margin of safety" was linked with this idea of uncertainty.

Today I want to take a closer look at the sorts of uncertainties faced in investment analysis and how Benjamin Graham recommend one face those uncertainties.

Stock Valuation and Anchoring: AF2P Contest Results

Thanks to everyone that participated in my little study. I'm going to outline what questions I wanted to answer with this study. Hopefully, you will find this information useful.

Introduction

As investors, we're trying to find good companies trading at a good price. But how do we assess what to pay? Obviously there is a good deal we don't know; we must make decisions under conditions of uncertainty.

Enter the AF2P Stock Valuation Contest!

So we're having a little stock valuation contest. It shouldn't take you too long and you have a chance to win \$25. You'll be helping me out in a little research project I have so I'd appreciate it if you would sign up and participate.

Click here for details:

AF2P Stock Valuation Contest

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