A Taxonomy of Moats (Reaction Wheel) Three Big Things: The Most Important Forces Shaping the World (Collaborative Fund) “Every current event — big or small — has parents, grandparents, great grandparents, siblings, and cousins. Ignoring that family tree can muddy your understanding of events, giving a false impression of why things happened, how long they … Continue reading Weekly Reading Recommendations
WHAT IF INTEREST RATES DON’T GO TO ZERO? (Roger Montgomery) “Experience tells me that when everyone in the market is pointing in the same direction, that trade is done, and it’s time to turn around and look the other way.” “There is little question that lower interest rates are required to keep companies investing and … Continue reading Here’s what I’ve been reading lately
I first saw this question a few months back in a post on The Reformed Broker. I’m also putting together a presentation on the implications of this for one of my economics courses this semester, so I figure I might as well write about it here. The cost of capital (in the sense in which … Continue reading “What if the cost of capital never rises again?”
To get your week started. Is value back? (The Most Competitive Game) “Since people want abnormal results, they try to find abnormal thinkers. But no one should be shocked when people who think about the world in unique ways you like also think about the world in unique ways you don’t like. If you want … Continue reading Weekly Reading Reccomendations
Here’s a few of the headlines I’ve seen over the past few weeks. I never really bought the idea that value investing is dead, but I think it’s important to consider why value has underperformed growth and other strategies (such as momentum) over the past 10 or so years. We also need to take the … Continue reading Is value back?
Long list this week. Here we go. Why Brookfield Asset Management Is My Largest Stock Position (Part 1) (Seeking Alpha) Why Brookfield Asset Management Is My Largest Stock Position (Part 2) (Seeking Alpha) How to Factor Fickle Markets Into Your Portfolio (WSJ – The Intelligent Investor) The American Consumer Keeps Beating Expectations (WSJ) The Horsemen … Continue reading Weekly Reading Recommendations
Skewed Expectations (Of Dollars and Data) “I think stock picking is difficult, but maybe not as difficult as some people make it out to be. However, even if you think you can beat the market over shorter time periods, the reason you still shouldn’t engage in stock picking has nothing to do with return, but with … Continue reading Weekly Reading Recommendations