Market (In)Efficiency and beating the market
Behavioral inefficiencies are likely the most enduring because human nature has not changed much over time and is unlikely to change much in the future.
attractive prices
Want better returns? Forget risk. Focus on fear
In effect they acknowledge that going down the Capital Asset Pricing Model rabbit hole with Alice did not get them to Wonderland. Their solution is to go further down the same rabbit hole.
Drawdowns, inefficient markets and a portfolio managed by God
The concept of this research is to capture results associated with a long-term investor (we assume a 5-year holding period) that has incredible stock-picking skill
Howard Marks bad advice or misunderstood
Now we are looking for good companies, not just cheap companies.
The danger in out-of-consensus analysts’ reports
The question then becomes whether the market is simply slow to recognize the value in the company or whether the analyst was too optimistic in their estimate of fair value.
How to buy stocks at bargain prices
Declining free cash flow may be a sign the company is investing for the future! Or it may be a very bad sign. Increasing free cash flow may be a good sign or a bad sign. It’s all in the interpretation of the financials.
Buying at average prices vs buying at very attractive prices
Distill the secrets of sound investment into three words
Concentration risk and the Magnificent Seven
The best business to own is one that over an extended period can employ large amounts of incremental capital at very high rates of return
Buying stocks in your happy zone
If I have to bite at stuff that is out of my happy zone, I’m not a .334 hitter
Investing in a permacrisis
The prophets of doom have overlooked the all-important factor
You must be logged in to post a comment.