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 [...]

Read more...

Arquitos Capital Management 3Q19 Investors Letter

Arquitos Capital Management letter to investors for the third quarter ended Septmeber 30, 2019. Q3 2019 hedge fund letters, conferences and more The stock market is a device for transferring money from the impatient to the patient. - Warren Buffett Dear Partner: Arquitos returned -12.6% net of fees in the third quarter of [...]

Read more...

Stocks Don’t Care About Impeachment

“Would Trump’s impeachment crash the market?” Q3 2019 hedge fund letters, conferences and more A reader asked me after House Speaker Nancy Pelosi announced a formal impeachment inquiry into President Trump’s dealings with Ukraine. A lot of people have a vague sense that impeaching Trump is bad for stocks. Political chaos means stocks [...]

Read more...

Dividends *Can* Lie

Don’t get me wrong, I love dividends. I even have a money management strategy based off of them. But I know that dividends are more fickle than most of their fans admit. The infatuation that some money managers have with dividends is misplaced. To say that “Dividends don’t lie,” [...]

Read more...

Byron Wien: Recession Fears Are Overblown

When the yield curve inverted earlier this year, Blackstone’s economic model predicted a recession in the next 20 months. But Byron Wien cautioned against relying on that forecast. Q3 2019 hedge fund letters, conferences and more Wien is the vice chairman for private wealth solutions at Blackstone. He spoke to investors [...]

Read more...

Emerging Value Capital Management 3Q19 Investment Letter

Emerging Value Capital Management letter to investors for the third quarter ended September 30, 2019. Q3 2019 hedge fund letters, conferences and more Dear Partners and Shareholders, EVCM Fund net returns to investors are shown in the following table. "Be fearful when others are greedy and greedy when others are fearful" -- Warren [...]

Read more...

What is intrinsic value?

The value of a business to a buyer in a going private transaction is its intrinsic value. In other words, if a business is acquired by another entity, the amount exchanged for that business is its intrinsic value. Q3 2019 hedge fund letters, conferences and more Quite often, investors confuse price [...]

Read more...

Raoul Pal: Interpreting Macroeconomic Trends

ValueWalk's Raul Panganiban interviews Raoul Pal, the Co-Founder and CEO of Real Vision. In this part, Raoul discusses what let him to investing and finance, his investment philosophy and approach, how his early career was like, what do to if you have got your timing wrong, and how he defines [...]

Read more...

Choppy

Summary Market recap – Bumpy quarter Market cycle – It’s the economy again Consumer – You shall not pass! Credit conundrum Portfolio positioning Q3 2019 hedge fund letters, conferences and more I. Market recap – Bumpy quarter Heading into the third quarter, market concerns were centered around the ongoing uncertainty of the trade war between the United [...]

Read more...

ASEAN Can Be A Safe Haven

ASEAN is mainly correlated to Asia Pacific ex Japan and Emerging markets The region has a low correlation to the US, Developed Europe, and China A-shares In addition, ASEAN is the least volatile region A good region, when you want to play defense Q3 2019 hedge fund letters, conferences and more Article by Andrew [...]

Read more...

Tollymore Investment Partners 3Q19 Commentary: Profiting from lazy journalism

Tollymore Investment Partners commentary for the third quarter ended September 30, 2019. Q3 2019 hedge fund letters, conferences and more Dear partners, Tollymore generated returns of +13% in the first nine months of 2019. Tollymore has generated cumulative returns of +85% since inception, annually compounding capital under its management at +20% pa1. Incentives, [...]

Read more...

The 3 Most Powerful Ideas From Expectations Investing

During his recent interview with Tobias, Michael Mauboussin, the Director of Research at Blue Mountain Capital Management, discusses the three most powerful ideas from Expectations Investing. Here’s an excerpt from the interview: Q3 2019 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias Carlisle: So much the better for [...]

Read more...

Howard Marks October 2019 Memo: Mysterious

Howard Marks memo to Oaktree clients for the month of October 2019, titled, "Mysterious." Q3 2019 hedge fund letters, conferences and more Most of the time, my memos have their origin in something interesting that’s happening in the world or in a series of events I come across that I think [...]

Read more...

G&D Fall 2019 Issue: Interview With Mohnish Pabrai

Interview with Mohnish Pabrai, the Managing Partner of the Pabrai Investment Funds, from the Graham & Doddsville Fall 2019 Issue. Q3 2019 hedge fund letters, conferences and more Mohnish Pabrai is the Managing Partner of the Pabrai Investment Funds. Since inception in 1999 with $1 million in AUM, Pabrai Investment Funds [...]

Read more...

Social Security Is Screwing Millennials

Social Security is a textbook illustration of how government programs go off the rails. Q3 2019 hedge fund letters, conferences and more StockSnap / Pixabay It had a noble goal: to help elderly and disabled Americans, who can’t work, maintain a minimal, dignified living standard. Back then, most people either died before reaching that point [...]

Read more...

Why Do CEOs Make So Much Money?

Certain politicians and social critics would have us scandalized that the annual income of CEOs of large corporations is often several times that of the employees who work in those companies. Is it unfair that executives make substantially more than a middle manager, an executive assistant, or an assembly-line [...]

Read more...

Investors Are Zoning Out On Opportunity Zone Funds

Fundraising for these real estate vehicles is lacklustre as the industry awaits final regulatory guidelines from the US Treasury Q3 2019 hedge fund letters, conferences and more Opportunity Zone Funds (OZFs) are designed to enable investors to do well by doing good. Created to spur investment in low-income communities designated as [...]

Read more...

See’s Candies Vs. Berkshire Hathaway

During his long career, Warren Buffett has invested in thousands of companies and acquired a whole range of businesses for his conglomerate. Q3 2019 hedge fund letters, conferences and more However, of all of these deals, two stand out as being the most transformational. If you’re looking for value stocks, and exclusive [...]

Read more...
Saved Articles
X
TextTExtLInkTextTExtLInk

Are you a smart investor? Join tens of thousands of sophisticated investor reading our authoritative free newsletter

* indicates required


Congrats! Are you a smart person?

We have an exclusive targeted for being a sophisticated and loyal reader.

Sign up today and get three months free

Use coupon code vip19 or click on the button below

Limited time offer only ENDS 10/31/2019 or after next 25 20 subscribers take advantage whichever comes first – please do not share this discount with others

 

0