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Click HERE to download Is Economics Research Replicable? Sixty Published Papers from Thirteen Journals Say “Usually Not.”
There is a lot of money in the world and there are often fascinating stories behind it. This is a great story and what also makes it great is what a pertinent lesson it is for “some people” to understand […]
Forestar Announces CEO Transition, Management Promotions and Board Retirements ************************ September 28, 2015 06:45 AM Eastern Daylight Time AUSTIN, Texas–(BUSINESS WIRE)–Forestar Group Inc. (NYSE: FOR) today announced that James M. DeCosmo, President and Chief Executive Officer, stepped down September 25, […]
William Leggett, a Jacksonian Democrat and abolitionist, writing in the New York Evening Post, Nov. 21, 1834: “Whenever a Government assumes the power of discriminating between the different classes of the community, it becomes, in effect, the arbiter of their […]
CLICK HERE to download Cove Street Capital’s September 2015 Strategy Letter Number 22, “Paleo Investing”
I will ignore the somewhat silly premise of the book which was to analyze the emotional nature of “money managers” and thus glean some clues as to how to prevent future financial crashes. But I would note the following: If […]
Dole C.E.O. and Aide Found Liable for $148 Million in Buyout
Related: Plus ça Change, Plus C’est La Même Chose.; The Fire is Burning Leading Proxy Advisory Firms ISS and Glass Lewis Recommend OM Group Stockholders Vote “FOR” the Merger Transaction with Apollo Affiliated Funds in Partnership with Platform Specialty Products […]
Aside from a mayonnaise issue, one of the largest pet peeves here is the following: focusing one’s time on finding interesting businesses and values first and then considering some macro considerations next is known as “Bottom-up” investing. It is NOT […]
This is certainly our favorite exchange this quarter in the ongoing dialogue between management and shareholders at Richardson Electronics (RELL). The pertinent facts you need to know here are that there is an “A-B” structure that keeps voting control with […]
There is a very real temptation to think someone else is smart based upon the premise that they say things with which you completely agree. Here is a perfect example. Now let’s put this interview into reality. We have met […]
Quotation of the Day: “The problem for these guys is that I fully understand the system and I understand how they make their money. And that’s what they don’t like about me.” —Senator Elizabeth Warren, responding to criticism from Jamie […]
We’ve witnessed many weird and fascinating things in these six years of zero interest rates and quantitative easing but nothing that we’ve seen has personified the looseness of monetary policy like what was uttered on RCI Hospitality’s second quarter call. […]
A nice reminder for all of us…since it can seem easy to forget when one lives in a world seemingly full of unicorns.
“I don’t believe any of us have the pretension of believing that by being very good analysts, or by going through very elaborate computations, we can be pretty sure of the correctness of our results. The only thing that we […]
“I came, I saw, I purchased at a low multiple” …from Graham to Asness it still works. CLICK HERE to read more.
Investing other people’s money for a fee is fiendishly simple—just avoid being terribly wrong. This applies to widely diversified or concentrated portfolios. Read on.
A few thousand years ago, a friend of the CSC lead PM was a good friend of Jim Cramer who was starting this “online thing” back in the late 1990’s. Was there room for someone writing about value? It was […]
CLICK HERE to download Cove Street Capital’s July 2015 Strategy Letter Number 21, “Three Anecdotes Don’t Make a Data”
Related: Plus ça Change, Plus C’est La Même Chose. ************************ The following is a letter by Wynnefield Capital Management to fellow shareholders of OM Group (OMG), released June 11, 2015: ************************ Wynnefield Capital Management, LLC 450 7th Avenue, Suite 509 […]
(Translation: Another Weasel-like Deal Where Public Shareholders are Sold-Out.) The topic for today is the deal announcement on May 31st that the OM Group (NYSE: OMG) decided to sell itself to the private equity firm Apollo Group for $34 a […]
by Ben Claremon | Research Analyst As of the huge currency moves the world has witnessed over the last year or so, the topic of currency hedging has recently become very pertinent to both investors and companies who generate sales […]
All the Light We Cannot See — Anthony Doerr Churchill — Paul Johnson Hitch-22: A Memoir — Christopher Hitchens How Life Imitates Chess: Making the Right Moves, from the Board to the Boardroom — Gary Kasporov The Limits of Strategy: […]
I have no idea how this guy has a life when I merely glance at his bio—but that is not our concern. Substitute “money manager” instead of doctor and his commencement speech becomes worth thinking about. And his new book, […]
CLICK HERE to download Cove Street Capital’s May 2015 Strategy Letter Number 20, “Don’t Bring a Knife To a Gun Fight”
Managing $163 billion is not easy. What this piece points out is: It’s generally right. “Private” or “Alternatives” are a good idea only when practiced in small size and in small distribution. What is clear is that “alternative” investing as […]
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