(UPDATED 4/19 18:23) Q1 2019 TOP Hedge Fund Letters!

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 [...]

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Stop Analyzing Stocks, Start Analyzing Businesses

"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 [...]

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How To Improve Your Investing Over Time

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 [...]

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Buffett On His Best, Worst And Most Painful Investments

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 [...]

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Investment Opportunities: Part 15

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 [...]

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Why Do The Investor Inflows And Outflows Matter?

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: [...]

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Charlie Munger’s 10-Step Investment Checklist

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 [...]

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Risk Premia – The Alternative Investments Savior?

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 [...]

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Value Portfolios Formed On P/CF Are Underperforming Glamour By The Widest Margin “Ever” Going Back To 1951 – 59%

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 [...]

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A Simple Three-Step Process To Combat This Investing Mistake

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 / [...]

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How To Define Risk And How To Manage Human Bias

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 [...]

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Mauboussin: Active Bond Managers Deserve Their Fees

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 [...]

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Two Types Of Risk, But Only One Really Matters

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 [...]

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Netflix’s Unbelievable Cash Burn Just Got 60% Worse

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 [...]

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