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.
concentrated portfolio
How I invest my money
We think the very term ‘value investing’ is redundant.
A coward’s primer for investors per Paul Samuelson
Kahneman is telling us that an ordinary person might, without being thought silly or irrational or cowardly, reject the single bet but decide to take on the 100-bet game.
Strategic thinking, plans and a punch in the mouth
And here’s the difference between the bursting of true stock market bubbles and other stock market routs. When the Dot Com bubble burst it took many many, years for the fallen to recover.
Match the market going up and, in a pullback, go down less
By timing we mean the endeavor to anticipate the action of the stock market – to buy or hold when the future course is deemed to be upward, to sell or refrain from buying when the course is downward. By pricing we mean the endeavor to buy stocks when they are quoted below their fair value and to sell them when they rise above such value.
Owning an equal part of every business in town
Buffett is right for an actively managed portfolio and Greenblatt is right for a passive portfolio
Investment strategy – the best defense is a good offense
And if a person sets out to make profits from security purchases and sales, he is embarking on a business venture of his own, which must be run in accordance with accepted business principles if it is to have a chance of success.
How many stocks to own?
One of the reasons I can have a concentrated portfolio is because I understand what I own.
Asset allocation out of step with modern investment management
We are looking for opportunities and we don’t much care what category they’re in
What it means to not lose money
People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences
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