Analysts’ reports and the estimate revision game
Even with overly optimistic earnings estimates companies regularly ‘beat’ the estimates. What gives?
The personal qualities successful investors need to cultivate
What mattered most was confidence in one’s own judgment, from which would flow the Kiplingesque cool to keep one’s head ‘when all about you are losing theirs’
What you need to know about bubbles
I am not attuned to this market environment, and I don’t want to spoil a decent record by trying to play a game I don’t understand just so I can go out a hero.
Do optimists make better or worse investors?
The main benefit of optimism is resilience in the face of setbacks
The pitfalls of a sector rotation strategy
Investing based essentially on the business cycle outlook is a fools’ game.
The cornerstone of investment success
Is buying with a margin of safety really the closet practice of market timing?
An unconventional view of cash reserves
The cash in the portfolio may be enough to take advantage of the opportunity. Or it may not be enough. It doesn’t matter. The investor is in the delicious position of comparing the new opportunity with all other holdings in the portfolio.
How to become a skilled investor
The subjective confidence we have in our personal level of skill is absolutely no guide as to whether we actually have the skill.
Do quants with algorithms have an advantage over other investors?
Math and algorithms will give precise answers. And therein lies the problem.
Can investors improve their luck?
The courageous may take heart but, before boldness must come skill. Boldness without skill is a recipe for disaster.