This post was created on 6/30/2019 stay tuned for updates up to several times a day! As always we REALLY really appreciate legal letters and tips on hedge funds from our readers regardless of fund size. How is this different than SecurityAnalysis? We have a lot more (on funds both large [...]
One of the certainties of a market economy is change. As Joseph Schumpeter famously observed, innovation moves the world forward, but not painlessly. Q2 hedge fund letters, conference, scoops etc FotografieLink / Pixabay The evolutionary process of “creative destruction” introduces new industries and new opportunities, but in its wake, less efficient industries [...]
Gender equality has made significant strides since the days of Rosie the Riveter. The iconic wartime image continues to symbolize womens’ empowerment in the present—especially in politics and the workforce. Yet, the higher and further women get in their careers, it’s clear that barriers still remain. Today’s interactive timeline comes [...]
It is undeniable that as a species we have successfully adapted for thousands of years and we will continue to do so as new challenges arise. Greenhouse gasses and global warming are not new concepts of discovery; however, rapidly increasing natural disasters, such as hurricane Dorian and raging forest [...]
Rowan Street Capital commentary for the second quarter edned June 30, 2019. Q2 hedge fund letters, conference, scoops etc rawpixel / Pixabay Dear Partners, Our 2019 second quarter performance was +5.9% (gross) compared with S&P 500 total return of +4.3%. Year-to-date performance through June 30 was +26.4% (gross) compared with +18.5% for the [...]
Hindenburg Research's short report on Bloom Energy Corp (NYSE:BE), titled, "A 'Clean' Energy Darling Wilting to its Demise." Q2 hedge fund letters, conference, scoops etc Summary: Bloom Energy (NYSE:BE) We believe that Bloom Energy, once touted as the prospective “holy grail” of clean energy, is instead likely to wind up in the [...]
There were three companies with at least a decade of dividend increases under their belt which hiked distributions last week. I reviewed the latest increase against the ten year average in each of the three instances. I also reviewed the trends in earnings, and then looked at the valuation, [...]
Benjamin Graham was more than just a teacher and author. He was also one of the greatest investors of the 20th century. Q2 hedge fund letters, conference, scoops etc Graham's professional investment career started in 1936 with the founding of the Graham-Newman Corporation. Graham was joined in this endeavor by his [...]
ValueWalk's Raul Panganiban interviews Wayne Himelsein, the President and CIO Logica Capital Advisers. In this part, Wayne discusses what led him to investing, his overall investing philosophy, mitigating the behavioural biases, how he defines his hedge, his definition to a systematic approach, and the grey box in systematic investing. Q2 [...]
Despite signs of a global economic slowdown, it seems that there is no stop on tourism growth. For many individuals, traveling is an ideal way to experience new cultures, meet new people, and broaden horizons. At the same time, tourism is a major component of the economy for many [...]
Dear Fellow Investors, Over the last ten years we’ve seen the rise of the Battle Royal markets and the shift away from one-on-one investing. There are all sorts of different battle royal’s, but the ones I watched as a kid were the biggest events in pro wrestling, where 12 wrestlers [...]
In our work studying Knowledge Leaders, there’s a common thread: highly innovative companies often exist at the intersection of global trends that demand intensive R&D efforts to solve complex problems the world has never faced before. Coincidence? We don’t think so. Q2 hedge fund letters, conference, scoops etc 12019 / Pixabay The [...]
Stock buybacks I have always been a contentious point for Warren Buffett and Charlie Munger. Q2 hedge fund letters, conference, scoops etc If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value Stocks. While the duo is not wholly against [...]
3G Capital today sold 25 million shares, or 9% of its stake, in Kraft Heinz at $28.44 per share for $713 million. Jorge Lemann bought 3.5 million shares at $28.60 for $100 million. Q2 hedge fund letters, conference, scoops etc Berkshire Hathaway remains the largest shareholder of Kraft Heinz with a [...]
“…nothing is new under the sun. Almost everything we see happened before at some point in human history, though of course with different details and magnitude. So we can’t throw out precedent completely. Well, except for negative interest rates. That really is something new under the sun.” “Negative rates [...]
There has been plenty of talk about Fannie Mae and Freddie Mac and the government's proposal to recapitalize them and release them from conservatorship. However, not everyone may be familiar with the history of these two government-sponsored enterprises (GSEs) and the issues that face them. Bank analyst Dick Bove [...]
Value and Momentum each had back to back extreme returns (five sigma) days on Monday, September 9th and Tuesday, September 10th. The Dow Jones Thematic Market Neutral Value Index (“Value”) started the week up 3.45%, its best day since inception on December 31st, 2001. The Value Index followed this [...]
A decade ago, the music industry was headed for a protracted fade-out. Q2 hedge fund letters, conference, scoops etc The disruptive effects of peer-to-peer file sharing had slashed music revenues in half, casting serious doubts over the future of the industry. Ringtones provided a brief earnings bump, but it was the growing [...]
“Davidson” submits: Q2 hedge fund letters, conference, scoops etc A rate cut from the Fed is widely expected. Many believe the US has entered a recession and that rate action by the Fed is required. History suggests no cut!. The first observation one can make is that the Fed’s history of rate [...]
Seth Klarman is widely considered to be one of the best value investors in the world today. Q2 hedge fund letters, conference, scoops etc His Boston-based hedge fund, Baupost manages approximately $30 billion in assets for clients around the world. Its unconstrained mandate means that it can invest in whatever assets [...]
ValueWalk's Raul Panganiban interviews Dev Kantesaria, the Managing Partner at Valley Forge Capital Management. In this part, Dev discusses his background and what led him to investing, venture investing in biotech, how his experience has carried over to his current investment thinking and process, his long biased equity strategy, [...]
ValueWalk's Raul Panganiban interviews Bob Robotti the president and CIO of Robotti Value Investors. In this part, Bob discusses his energy investments, the earnings power of the businesses, determining disparity between price and value, if ETFs are a momentum-oriented thing, active vs passive management, and his sell discipline. Q2 hedge [...]
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