Will VC Valuations Come Down To Earth? by PitchBook Introduction Is the U.S. VC market in bubble territory? There’s no shortage of commentary on the subject, but the conversation was more... read more

For over 21 years, Doug Barnett has been investing in Thailand, achieving a 3111% gain in value (IRR = 18.1%), while, as a comparison, Warren Buffett’s Berkshire Hathaway was... read more

Russian state-controlled VTB Bank, the second largest financial institution in the country, received the first installment of a $250 billion ruble bailout from the Russian government on Monday. The... read more

Farnam Street letter to clients for the month of January 2017. Farnam Street - Copycats? “If you’re in the investment business and have an IQ of 180, sell 30 points to... read more

Before Facebook’s botched IPO, which was widely documented on a global scale, the social network had been secretly waging a series of battles with the SEC. While the market... read more

Greenhaven Road Capital investment letter for the fourth quarter ended December 31, 2017. Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it... read more

Economic Uncertainty And Commodity Futures Volatility by OFR Sumudu W. Watugala Abstract This paper investigates the dynamics of commodity futures volatility. I derive the variance decomposition for the futures basis to show... read more

Bill Nygren, Portfolio Manager at The Oakmark Funds, has just released a video which highlights the importance of considering intangibles when valuing businesses today saying: Get The Timeless Reading eBook... read more

The Statement of Cash Flows was long considered to tell a much truer tale of how a company was faring than the Statement of Profit and Loss.  The numbers... read more

We recently spoke to Meb Faber who puts out the most comprehensive research on global CAPE (Shiller PE) levels. Meb just came out with some interesting data for his 2013 outlook.... read more