No matter how carefully you go over a company’s financial statements, it’s nearly impossible to detect fraud as an outsider, but that doesn’t mean there’s nothing you can do... Read More

Seventeen public pension plans reported commitments to Private Equity funds in July 2019, accounting for $822 million of investments. Q2 hedge fund letters, conference, scoops etc Average commitment size by public... Read More

In their recent episode of the VALUE: After Hours Podcast, Taylor, Mitchell, and Carlisle discussed The Real Cause Of The Lumber Spike. Here’s an excerpt from the episode: Q2 2021... Read More

There is a massive move underway in markets, GMO’s resident contrarian James Montier noted in a white paper titled “Six Impossible Things Before Breakfast.” Like an Alice in Wonderland... Read More

Among its first moves after being required to delist certain “irrelevant” search results was to remove a posting critical of a large bank executive for his role in the... Read More

After failing the US Federal Reserve’s stress test, Citigroup Chief Financial Officer John Gerspach “needs to go,” said CLSA bank analyst Mike Mayo, who accused the bank of “running... Read More

Stan Druckenmiller makes an unlikely class warrior. He's a member of the 1%—make that the 0.001%—one of the most successful money managers of all time, and 60 years old... Read More

It’s taken three decades, more than $4.5 trillion in assets and a change to the rules. But some of the most reluctant money managers on Wall Street are finally... Read More

“Davidson” submits: Q1 2021 hedge fund letters, conferences and more Most seem not to use the T-Bill/10yr Rate Spread (Dotted Gray Line) as I do. There is a long history from... Read More

If you could travel back in time to the 19th century, it would be very difficult to convince anyone that railroad investments were not the future of the stock... Read More