This post was created on 3/30/2019 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 [...]
"Stop analyzing stocks as data and statistics and start analyzing businesses," that's what Joel Greenblatt told students of his Special Situation Investing Classes at Columbia University Business School according to transcripts of the lessons in the early 2000s. Q4 hedge fund letters, conference, scoops etcGreenblatt concentrated on valuation throughout his [...]
We’ve just been reading through the latest Fairfax Financial Annual Report 2018 in which Prem Watsa discusses his failed attempt to short indices (mainly the S&P500 and Russell 2000) and a few common stocks, saying: Q1 hedge fund letters, conference, scoops etcIn the past, to protect our equity exposures in [...]
As dividend investors, we focus on identifying and selecting the companies to include in our divided portfolios. The ultimate goal is achieving our stated dividend income objectives. As a result, a lot of effort is put into the company research department. I believe that this is all great. In [...]
This is the second part of a short two-part series of notes from the Economic Club of Washington’s 2012 dinner celebration, which featured Warren Buffett as the featured guest. Q1 hedge fund letters, conference, scoops etcBuffett engaged in an after-dinner conversation with President David M. Rubenstein that covered a wide [...]
This is a multi part post on ValueWalk's interview with David Marcus, co-founder, CEO, and CIO of Evermore Global Advisors. In this part, Marcus discusses the lessons he learned from Michael Price. See part 2 here: David Marcus: How To Deal With Tough Moments See part 3 here: David Marcus: What [...]
Introduction Although I consider the overall stock market as represented by the S&P 500 to be overvalued, not all stocks are overvalued. This has been one of the primary reasons that I have attempted to cover the 20 sectors reported on by FactSet. It’s very common for investors to get [...]
This is part 2 of a multi-part post on Eric Boughton, the Chief Analyst at Matisse Capital. In this post, Eric explains why inflows and outflows matter and what factors they influence.See Part 1 here: Eric Boughton: What Is A CEF And How Does It Work? See Part 3 here: [...]
This is a multi part post on ValueWalk's interview with David Marcus, co-founder, CEO, and CIO of Evermore Global Advisors. In this part, Marcus discusses his favorite books and why he keeps Warren Buffett and Charlie Munger's Bobbleheads on his desk.See Part 1 here: David Marcus: Potential Opportunities In [...]
Trying to beat the market isn't easy, but investors stand a much better chance if they focus on the long-term and follow a sensible, rules-based approach according to Wall Street Legend Joel Greenblatt. Q1 hedge fund letters, conference, scoops etcIf you’re looking for value stocks, and exclusive access to value-focused [...]
Charlie Munger is considered to be one of the world's greatest investors, alongside his business partner and longtime friend, Warren Buffett. Q1 hedge fund letters, conference, scoops etcMunger's approach to investing is different from most other money managers. He's not afraid to be greedy when others are fearful and spends [...]
One the most significant challenges all investors face at some point during their careers is the challenge of deciding when to sell an investment. You could even argue that deciding when it is time to sell up and move on, is more important than buying the investment in the [...]
We half-jokingly asked in our Managed Futures/Global Macro 2019 Outlook, “Is this asset class working for you?” following a year in which managed futures didn’t deliver the crisis period performance they’ve become known for. But a recent piece in the hedge fund journal shows it wasn’t just trend following [...]
The chart below shows the relative performance (blue, left-hand side) and underperformance from the nearest peak (orange, right-hand side) of value-weighted decile portfolios formed on price-to-cash flow from 1951 to February 2019. Q1 hedge fund letters, conference, scoops etcThis is a backtest. The results are hypothetical results and are NOT [...]
Editor’s note: In today’s essay, we’re sharing more timeless advice from our friend and Empire Financial Research founder Whitney Tilson. Today, Whitney tackles one of the biggest mistakes you can make – and shares three simple steps to help you overcome it. Q1 hedge fund letters, conference, scoops etc Tumisu / [...]
Crossroads Capital's Ryan O'Connor thinks Japanese consumer entertainment business Nintendo is one of the world's most undervalued businesses, and the company's shares could generate a 30%+ IRR "for many years to come." O'Connor is so optimistic on Nintendo's outlook that he has made it his largest position at Crossroads [...]
This is a multi part post on ValueWalk's interview with David Marcus, co-founder, CEO, and CIO of Evermore Global Advisors. In this part, Marcus discusses how he manages risk and human bias.See Part 1 here: David Marcus: Potential Opportunities In Latin America See Part 3 here: David Marcus: Favorite Books [...]
During the past ten years, active equity funds in the US have suffered $1.1 trillion of cumulative outflows, while flows into passive funds have reached $2.4 billion. The shift from active to passive has not been so pronounced in the bond market, in fact, active managers are still reporting [...]
The risk that really matters when investing is the risk of not having enough wealth to meet your future goal, so-called shortfall risk–may it be financial independence at the age of 40, a comfortable retirement at 65, or something else. Q1 hedge fund letters, conference, scoops etc Alexas_Fotos / Pixabay Your piggy [...]
McIntyre Partnerships letter for the first quarter ended March 31, 2019. Q1 hedge fund letters, conference, scoops etcDear Partners, I hope you are having a pleasant start to spring. Below I provide an analysis of GTX’s asbestos indemnity, which is the fund’s largest position. However, as I prepared to distribute our [...]
Say what you will about progressive proposals to forgive all student debt or provide free college, at least we know what they intend to accomplish. Q1 hedge fund letters, conference, scoops etc 0TheFool / Pixabay Contrast that with the bill that Senator Jeff Merkley (D-OR) and Representative Rosa DeLauro (D-CT) reintroduced earlier [...]
If you’re a big fan of shows like Narcos, Stranger Things, House of Cards, or Orange is the New Black, you might want to think about sending a fruit basket to anyone you know who is a Netflix shareholder. Q1 hedge fund letters, conference, scoops etc mohamed_hassan / Pixabay Netflix reported its [...]
Key highlights for March 2019: Q1 hedge fund letters, conference, scoops etcThe Eurekahedge Hedge Fund Index gained 1.06% in March, bringing its year-to-date return to 4.36% - the strongest Q1 performance of the hedge fund industry since the global financial crisis. Roughly half of the hedge fund managers tracked by [...]
