The Driving Force Of Free Markets Is Empathy, Not Greed?

Both capitalists and anti-capitalists frequently accuse capitalism of being a system driven by selfishness and greed. Capitalism’s defenders sometimes say: “By nature, man is selfish, which is why socialism will never work. Capitalism better reflects the fundamental characteristics of human nature.” Anti-capitalists claim that capitalism promotes the worst characteristics...

Electric Cars vs. Gas Cars: Is The Conventional Wisdom Wrong?

Joe Biden, the current front-runner of the Democratic 2020 field, promises the return of electric vehicle (EV) tax credits. The presidential candidate says that "a key barrier to further deployment of these greenhouse-gas reducing vehicles is the lack of charging stations and coordination across all levels of government." Biden...

The Volatility Effect Revisited

Investigating the relationship between risk and return David Blitz, Pim van Vliet, and Guido Baltussen A version of the paper can be found here. Want a summary of academic papers with alpha? Check out our Academic Research Recap Category. The post "TITLE" appeared first on Alpha Architect. What are the research questions? One...

Why A 1968 Paper Still Influences Modern Asset Management

Wharton's Christopher Geczy discusses this year's Jacobs Levy Prize-winning paper on the link between earnings and stock prices. Q2 hedge fund letters, conference, scoops etc mohamed_hassan / Pixabay This year’s winners of Wharton’s Jacobs Levy Prize for Quantitative Financial Innovation, an award given to leading lights in the world of finance, are...

International Value: Optionality On Reflation

At some point the global economy will get a dose of reflation. Whether that comes from the current central bank easing cycle, fiscal policy response, coordinated fiscal-monetary action, or a détente in the US-Sino trade dispute is not yet known. However, when it happens a certain group of stocks...

What Peter Parker Can Teach Us About Housing Affordability

With Spider-Man: Far From Home hitting theaters earlier this month, the Marvel Cinematic Universe has taken one of the series’ biggest risks yet: pulling Spider-Man out of New York City. The gravity of this decision is baked into the film’s title—with good reason. More than any other Marvel superhero,...

Arquitos Capital’s Steven Kiel On His Favorite Investment Idea

ValueWalk's Raul Panganiban interviews Steven Kiel, founder and portfolio manager of Arquitos Capital and chairman of Enterprise Diversified. In this part, Steven discusses if his investment process can be replicated, active stocktaking isn't dead, his fund's performances and his big bets, the misunderstanding of the balance sheet investors and...

Seward & Kissel’s Steve Nadel Discusses The Key Hedge fund Trends Based On His Latest ADV Research

ValueWalk’s Raul Panganiban interviews Steve Nadel, Partner in Seward & Kissel's Investment Management Group. Q2 hedge fund letters, conference, scoops etc rawpixel / Pixabay Interview with Steve Nadel   Transcript Good morning podcast listeners. Today's very special episode with Steve Nadel, he is partner at Seward & Kissel, LLP. He has over 25 years of...

We Not So Crazy After All…: IPO Edition

I’ve never really been prone to schadenfreude— a feeling satisfaction from someone else’s misfortune. Q2 hedge fund letters, conference, scoops etc kaboompics / Pixabay But I am a big believer in the Karmic justice. If you’re a dirty scumbag who constantly lies, cheats, and steals, sooner or later the universe is going...

Understanding The Great Repo Fiasco

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives Q2 hedge fund letters, conference, scoops etc cegoh / Pixabay Imagine approaching a friend who you think is very wealthy and asking her to borrow $10,000 for just one night. To entice her, you offer...

Walter Schloss’s Secret To Investing Success

Walter Schloss was one of the best value investors of all time. He studied under Benjamin Graham and then worked for the Dean of Value Investing at his value-focused investment company, The Graham--Newman Corporation. In 1955, Schloss struck out on his own. Q2 hedge fund letters, conference, scoops etc If you’re...

There’s Something Wrong With Your Unicorn IPO

It’s like Lord Voldemort himself is running around the stock exchanges these days sucking Unicorn blood to stay alive. The latest victim is Peloton ($PTON), lovingly known as a screen on a bike from those on the short side (borrowed from the camera on a stick schtick that was...

The Short Duration Premium

In my June 4, 2019 article “The Re-Death of Value, or Déjà Vu All Over?” I noted that one possible explanation for at least part of the poor performance of value stocks over the past decade has been the sharp fall in both the real interest rate (due to...

Endeavor Group Holdings Postpones Initial Public Offering

BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Endeavor Group Holdings, Inc. (“Endeavor”), a global entertainment, sports and content company, today announced that it has postponed its previously announced initial public offering. Endeavor will continue to evaluate the timing for the proposed offering as market conditions develop. Q2 hedge fund letters, conference, scoops etc rawpixel /...

How To Get Incredible Returns In Small Cap Value

Over the past 90 years, the world has changed dramatically, and so has the stock market. Investment trends and fads have come and gone, while old-world companies have collapsed, to be replaced by newer upstarts. But the one thing that hasn't changed over all these years is the outperformance of...

Shiller: A Recession Will Doom Trump

A recession would doom President Trump’s reelection chances, according to Robert Shiller. But he said the chance of that happening before next November is less than 50%. Q2 hedge fund letters, conference, scoops etc Shiller is a professor of economics at Yale University and a co-recipient of the 2013 Nobel Memorial...

S&P 500 Intrinsic Value Index Update

“Davidson” submits: Q2 hedge fund letters, conference, scoops etc It is useful to note that the Value Investor Index does not adjust  w/rates. It is based on long-term SP500 EPS and the Natural Rate(based on long-term economic fundamentals). The Natural Rate is based on the long-term Real Private GDP trend and...

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