In this episode of Intelligent Investment Today, we complete our trilogy of financial statement analysis by exploring the cash flow statement through the lens of Benjamin Graham.

Why do experienced investors place so much importance on cash generation? Because while profits can be adjusted and narratives can mislead, cash flow often reveals the underlying economic reality of a business.

We examine operating cash flow, free cash flow, capital allocation, financing decisions, and the critical difference between accounting profits and genuine financial strength. A deep dive into one of the most powerful tools in intelligent investing.

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Benjamin Graham believed that intelligent investing begins with understanding the real economics of a business.

In this episode, we explore the income statement and the critical role it plays in determining intrinsic value. From stable earnings and operating margins to interest coverage and accounting scepticism, we examine how Graham-style investors separate durable businesses from temporary success stories.

A discussion on financial discipline, long-term thinking, and the enduring importance of earning power.

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In this episode of Intelligent Investment Today, we return to the foundations of classic value investing and explore the discipline Benjamin Graham considered essential: balance sheet analysis. While modern markets obsess over stories, growth narratives, and technological excitement, Graham insisted that intelligent investing begins with something far more concrete — financial reality.

Drawing directly from Graham’s principles, we break down why assets, liabilities, liquidity, and debt matter far more than market hype. You’ll learn:

• Why Graham prioritised downside protection and the margin of safety
• What working capital, liquidity, and debt levels reveal about a company’s resilience
• How balance sheet strength can determine whether a business survives a downturn
• Why tangible assets and conservative financing still matter in today’s markets
• How dilution, leverage, and weak financial structures quietly destroy shareholder value

This episode is a reminder that before investors get excited about growth or disruption, they must first understand the financial structure supporting the business underneath.

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In this episode of Intelligent Investment Today, we take a deep dive into the world of bonds and fixed income investing — and explore why Benjamin Graham believed many investors misunderstood the risks involved.

While bonds are often presented as “safe” investments, the reality is far more complex. We examine the critical differences between government bonds, corporate bonds, secured debt, unsecured debt, senior debt, subordinated debt, and high-yield bonds.

You’ll learn:

• What bonds actually are and how they work
• Why not all bonds carry the same level of risk
• The difference between secured and unsecured debt
• How capital structure and repayment hierarchy affect investors
• Why bond yields can sometimes signal hidden danger
• What liens, seniority, and subordinated debt mean in practice
• Why Benjamin Graham warned against reaching for yield
• How intelligent investors think about downside protection and credit risk

This episode is essential listening for anyone interested in value investing, fixed income markets, portfolio construction, credit analysis, and long-term risk management.

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What can a mindset book teach us about investing?

In this episode of Intelligent Investment Today, David Coombs explores the surprising connection between The Subtle Art of Not Giving a F*ck and the principles of value investing.

From ignoring short-term market noise to staying disciplined during volatility, this episode examines how selective focus, emotional control, personal responsibility, and long-term thinking can shape better investment decisions.

Because successful investing is not about reacting to everything — it’s about focusing on what truly matters.

Topics include:

• Why market noise leads to poor decisions
• The importance of emotional discipline
• Handling volatility and uncertainty
• Long-term thinking in value investing
• The psychology behind successful investors
• Why simplicity often outperforms complexity

A thoughtful exploration of mindset, behaviour, and the timeless principles of value investing.

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In this episode of Intelligent Investment Today, we explore a powerful and often overlooked idea attributed to Warren Buffett:

“If your salary is your only income, you are only one step away from poverty.”

At first glance, the statement may seem extreme. But as we unpack it, a deeper message emerges — one about financial vulnerability, behavioural habits, and the true foundations of long-term wealth.

This episode examines why relying on a single income source creates risk, regardless of how much you earn, and how building additional streams of income can provide stability, flexibility, and peace of mind.

We also explore the behaviours that stand in the way — from lifestyle inflation and impulse spending to the challenge of delayed gratification — and why financial independence begins not with investing, but with how we manage what we already have.

Because the real lesson behind Buffett’s quote is not about fear.

It is about control.

About reducing dependence, building resilience, and making decisions that support your future — not just your present.

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In this episode of Intelligent Investment Today, we explore Common Stocks and Uncommon Profits by Philip Fisher — a book that takes investing beyond the numbers and into the heart of the business itself.

While traditional value investing, as taught by Benjamin Graham, focuses on valuation and margin of safety, Fisher introduces a different perspective: the importance of business quality, long-term growth, and exceptional management.

This episode examines Fisher’s distinctive approach, including his famous “scuttlebutt” method, his focus on qualitative insight, and his framework for identifying companies with the potential to compound value over time.

We also explore how these ideas influenced Warren Buffett, shaping the evolution of his philosophy into a blend of discipline and insight — combining Graham’s quantitative rigour with Fisher’s focus on great businesses.

Because the most powerful investing approach is not choosing between value and growth.

It is understanding how the two work together.

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In this episode of Intelligent Investment Today, we analyse The Coca-Cola Company through the lens of value investing.

Often regarded as one of the most recognisable and durable businesses in the world, Coca-Cola offers a powerful case study in simplicity, brand strength, and competitive advantage. But as every disciplined investor knows, a great business is not always a great investment.

Drawing on principles popularised by Warren Buffett and Benjamin Graham, we explore:

• Why Coca-Cola is such an understandable business
• The true nature of its competitive moat
• How brand, distribution, and habit reinforce its dominance
• And why valuation remains the most important part of the equation

A thoughtful discussion on quality, price, and the discipline required to invest wisely.

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