1. GuruFocus Tutorial (I) Value Idea Generation http://www.gurufocus.comCreated: Dec. 2009 Last Update: May 2010

2. What Can GuruFocus Do For You?Stock Idea Generation This tutorial Guru Stock Picks and Holdings Insider Buys Value Investing Screeners Monthly Newsletters Ben Graham NCAV Letter Buffett-Munger Bargain Letter Stock Idea Validation see Tutorial II What Gurus are doing with the stock What Insiders are doing with the stock Valuation: Absolute valuation DCF Model Historical valuation 10-year P/E, P/B, P/S ratios Relative valuation Comparable companies Compare with related companiesCopyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 2 3. Who are the Gurus?CEO of Investment CompaniesWarren Buffett, Prem Watsa etc Hedge fund giantsGeorge Soros, John Paulson, Tiger Cubs(Maverick, Viking Global, Lone Pine ) etc Mutual fund managersBruce Berkowitz, Marty Whitman, BobRodriguez etc Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 3 4. How Are Gurus Selected?Investors that have generated long term out-performances with large asset bases Mostly value orientedWarren Buffett, Bruce Berkowitz, Seth Klarman Low portfolio turnovers Some great investors other than value style arealso covered:Global Macro: Paul Tudor Jones, Louis Moore BaconQuants: Jim Simmons, Steven Cohen etcCopyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 4 5. Guru CategoriesFree Gurus: More than 60 gurus portfolio andstock picks are FREE to registered users Premium Gurus: Premium Members can accessall the features described here. Free membershave limited access. Premium Members ($249/year) can suggesttheir interested Gurus (Premium Gurus) thatonly premium members can access.Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 5 6. Personalize Your GurusPersonalize your list of gurus so that you onlysee the gurus you are interested. Check theirconsensus picks, common holdings etc You have the option of turning on/off the othergurus. To avoid confusion and too much information,The trades and holdings of Premium Gurus willnot show up when you check the guru trades ofa stock, unless this guru is in your PersonalizedList of Gurus.Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 6 7. Guru Idea Generation - Macro TrendGuru Sector/industry trend which industry they are going?Guru Market cap trend Large cap? Small Cap?Guru Geographic trend Where to invest? Asia? South America?Applicable to individual guru portfolios or aggregated portfoliosCopyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 7 8. Guru Idea Generation - Individual Guru PortfoliosGuru new buys and added positions (quarterly updates)Real Times Picks Guru trades on large positions reportedwithin 2-10 days.Most weighted positionsPositions/Picks in particular industry / market capInternational PicksETFsOption holdings (calls, puts)Guru bargainsValue ideas in Gurus portfolios: Undervalued Predictable companies (DCF model calculated) Low p/e stocks Top growth companies Top dividend yield companies Top Insider LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus Copyright: GuruFocus.com, buys8 9. Guru Idea Generation - Aggregated Guru portfolioGuru consensus picks Guru common holdings Most broadly owned &most weighted Sector Consensus Picks/holdings International Consensus Picks/holdings Guru screenerScreen guru holdings with multiple criteria such asindustry, market cap, guru buys/sells, dividend, p/e etc Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 9 10. Idea Generation From Insider TradesInsider Trades CEO, CFO BuysCompanies that are bought by their CEOs, CFOs. Insider Cluster BuysStocks that multiple company officers and directors have bought. Double BuysCompanies that both Gurus and Insiders are buying Triple BuysCompanies that both Gurus and Insiders are buying, and Company isbuying back Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 10 11. Value Investing Screeners - IScreener of proven value investing strategies Predictability Rank Buffett-Munger Screener Quality stocks young Buffett would buy Ben Graham Net Current Asset Bargain Screener Companies Ben Graham would buy, sold at below net cash Undervalued Predictable companies DCF calculation applied to predictable companies, large margin of safety exists.Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 11 12. Value Investing Screeners - IIHistorical Low P/S CompaniesPredictable companies that are sold athistorical low P/S ratiosA model portfolio that tracks theperformance of the strategyHistorical Low P/b CompaniesPredictable companies that are sold athistorical low P/S ratios Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 12 13. Monthly NewslettersBen Graham Net Current AssetBargain Newsletter 3-5 net-net are highlighted per monthBuffett-Munger bargains Research reports on 2 undervalued high quality stocks per month Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 13 14. Other Value Ideas52-week low guru stocksBroad market valuationsModel portfolios Most weighted Broadest owned Guru consensusCopyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 14 15. Excel DownloadsIndividual PortfoliosAggregated Portfolios in differentformatsGuru Stock PicksInsider TradesCopyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 15 16. Email AlertsOpt-in daily and weekly emailupdates.Follow your favorite gurus, andreceive email alertsSet up watch lists and portfolios andreceive email alerts when gurus orinsiders trade the stocks. Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 16 17. Premium MembershipPremium Members ($249/year) have fullaccess to the all the features described inthis presentation. 7-day Free Trial The Secured link for signing up:https://www.gurufocus.com/membership/upgrade.php Copyright: GuruFocus.com, LLC. GuruFocus.com stock picks and market insight of Warren Buffett Gurus 17