FPA Capital Fund letter to shareholders for the third quarter 2014. Introduction Is the market finally correcting the recent excesses of stock valuations, particularly in the small-mid-cap area? The admittedly arbitrary... Read More

Investors underestimate the negative consequences of high environmental, social and governance (ESG) risks, and underreact to prior negative ESG events. High ESG risks destroy shareholder value. Q2 2020 hedge fund... Read More

Ariel Focus Fund 2Q16 Commentary H/T Dataroma For the second quarter in a row, investors will likely remember the harrowing ride better than the end result. That is, domestic stocks posted... Read More

Allan Mecham's Arlington Value Capital portfolio commentary for the fourth quarter 2014. Also see Part I here: Allan Mecham's Arlington Value Capital 2014 Annual Letter Allan Mecham unloads Berkshire Hathaway We unloaded most... Read More

One time money manager Meredith Whitney has a new role in the financial services industry that will test different muscles in her portfolio management skill set. Meredith Whitney to execute... Read More

A few weeks ago, China made a “dangerous” and “undesirable” announcement… at least, according to the western media. On that day, China’s National People’s Congress announced that it had voted... Read More

Fund managers are overwhelmingly bearish on the outlook the markets and prefer cash over low yielding equivalents, that’s the key takeaway from Bank of America Merrill Lynch’s weekly Global... Read More

Tech Start-Ups Turn To Bank Debt as VCs cool It seems venture capital investors are finally starting to come to their senses after investing nearly $80 billion into start-ups last... Read More

Creating a low-cost auto insurance company that sells to those who traditionally can’t afford coverage and then employing cost-effective tactics when it comes time to payout claims has been... Read More

Before the coronavirus pandemic I expected the US would hit the debt wall in the late 2020s. Now, the debt is growing even faster and we will hit that... Read More