Concealing Volatility
Part of my career was based on concealing volatility. I sold Guaranteed Investment Contracts. I helped design and manage several different types of stable value funds. Life insurance contracts get valued... Read More
My Three Favorite Crowdsourced Micro-Cap Investment Ideas
In late May, I took to Twitter to crowdsource my followers’ favorite micro-cap ideas. I received a ton of great feedback with dozens of company-specific responses. I also created a Google... Read More
What Does Warren Buffett See In His 8 New Positions (Q1 2022)? @ycharts
Q1 2022 hedge fund letters, conferences and more According to his latest 13F for Q1 2022, Warren Buffett added 8 new positions. This week we look at how these new... Read More
Feedback Loops Of Destruction…
***Below is an excerpt from a note sent to Collective members earlier this week*** “This is my 45th consecutive year as a Chief Investment Officer. In 45 years I’ve never seen a... Read More
Red-Hot Lithium Boom Pits Wall Street Against the Wonks
There’s a fight brewing in the lithium market, after a controversial forecast from Goldman Sachs Group Inc. analysts set off a backlash among some of the industry’s most prominent... Read More
Active Managers Are on a Winning Streak. That Won’t Last.
Stock pickers are beating the market in unusually large numbers this year, raising the age-old question about whether their success can be attributed more to luck or skill. Nearly 70%... Read More
Soros’s Money Manager Warns Recession ‘Inevitable’ But Market Timing Is Off
Despite the massive selloff in equities this year and persistently high inflation, Dawn Fitzpatrick isn’t worried about a recession in the immediate future. The chief executive and chief investment officer... Read More
Scuttlebutt Interviews With Management – An In-Depth Look At Valuation Process
Value investors use a variety of techniques when it comes to developing investment ideas, but one step some might not think to take is conducting interviews. Investing wisely takes... Read More
ARKK Stocks Sunk
The better ARK performed, the more money flowed into its main ETF, ARKK. It used this money to buy more sci-fi ARKK stocks, pushing up the prices of its... Read More
Bitcoin and QQQ
FAR FROM an inflation hedge, bitcoin seems to be more of a highly leveraged QQQ ETF. While the “blockchain” may have value, bitcoin is a simple money order back by... Read More
Ingles Markets – World Class Benchmarking
Company: Ingles Markets Incorporated Bloomberg ticker: IMKTA US Market cap: US$1,776m Background: Ingles Markets Incorporated is an American supermarket chain based in Black Mountain, North Carolina. As of 2021, the company operated about 200 supermarkets in... Read More
How I Protect Against the Coming Market Crash
Interest rates are going up, so bond and stock prices are going down. You can ride it out, but it will be an awfully long rough ride. I recommend... Read More
Here’s How Ray Dalio’s Bridgewater Is Preparing For Stagflation
Between the soaring inflation, the Federal Reserve's tightening and geopolitical tensions like the war in Ukraine, the markets have taken a severe beating this year. This environment is the... Read More
Estimating Future Stock Returns, March 2022 Update
Q1 2022 hedge fund letters, conferences and more Well, finally the bear market… at 3/31/2002 the S&P 500 was priced to return a trice less than zero in nominal terms.... Read More
Best International ETF – Our Top 10 to Consider in 2022
Are you considering an international ETF for your portfolio? Indeed, 2021 turned out to be one of the best years on record for ETFs. In this period, exchange-traded funds... Read More
Investing Implications Of Dopamine
Q1 2022 hedge fund letters, conferences and more In their recent episode of the VALUE: After Hours Podcast, Cassel, Taylor, and Carlisle discussed Investing Implications Of Dopamine. Here’s an excerpt... Read More
London Quality-Growth Investor Conference: Royalty Pharma’s Growth Opportunity
Martin Hermann, a senior portfolio manager at Berenberg since October 2017 responsible for the Berenberg Global Focus, took to the stage at the new London Quality-Growth Investor Conference earlier... Read More
ESG Investing Is Heading for a Reckoning, Says One Veteran Manager
The ESG investment industry may be headed for a reckoning and many companies won’t survive this period of higher interest rates. Free-Photos / Pixabay That’s according to James Penny, who’s been... Read More
Markets Must Have Their Day of Reckoning
A worse-than-expected inflation report released Friday spooked the Federal Reserve into contemplating steeper-than-expected interest rate hikes on Monday. That in turn spooked traders into a stock sell-off, driving the S&P... Read More
When Crypto’s Own Hedge Fund Geniuses Failed
Cryptocurrencies were supposed to teach traditional financiers a thing or two about how to avoid collapses and crises. Yet it feels like we’re simply repeating history. Specifically, the messy... Read More
Goldman Buyback Desk Was Flooded With Orders During Stock Rout
While hedge funds were busy bailing from stocks at a record pace as the S&P 500 plunged into a bear market, Corporate America was furiously buying. As the benchmark index... Read More
How the United States Conquered Inflation Following the Civil War
According to the most recent polling data, the American public’s approval of Congress stands at a dismal 21 percent. Almost four times as many people disapprove of the job... Read More
