The Kaufman Thoughtbook
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Old Ideas that Require Repeating in Regard to Hiring a Money Manager
This is a prepared text of the Commencement address delivered by Steve Jobs, CEO of Apple Computer and of Pixar Animation Studios, on June 12, 2005. Reprinted from the Stanford Report. I am honored to be with you today at […]
The VIX is the Chicago Board of Options (CBOE) Volatility Index and regardless of what it was intended to do, what it does do is offer a measure of investor fear and loathing. The higher the number, the more the […]
by Ben Claremon All European banks are insolvent! Germany is going to leave the Euro! The US is going to default on its debt obligations! Any investor who has spent time trolling the internet—especially the blogosphere—or listening to talking heads […]
by Eugene Robin Reading over some of the “doomsday” commentary in the financial blogosphere, it sometimes appears as if graphs posted by some of the authors are poignant and relevant to the here and now. As the above graph indicates […]
To counter the rumor that I am incapable of ceding the pen, I present Ben Claremon, Cove Street analyst, aka The Inoculated Investor. – Jeffrey Bronchick, CFA ——Do I Detect a Hint of Optimism?————————————————————– By Ben Claremon I am […]
Download Cove Street Capital’s August 2011 Strategy Letter Number 2 “The Slow Investment Movement”
Federal Reserve Chairman Ben Bernanke’s speech in Jackson Hole today was notable for what it did not contain—a big silly and asset levitating QE3 program—although he did leave that possibility open: “In addition to refining our forward guidance, the Federal […]
Many things can aggravate an investor in a very cheap stock. This one is particularly irking. Leo Apotheker, the “9 month old” CEO of Hewlett Packard, for reasons unbeknownst to those rationally running public companies, participated in the following dialogue […]
It seems hard to reconcile this piece by Warren Buffett with the fact that he is engaged in possibly the largest tax-free transfer of wealth in the history of modern mankind.
It does take some creativity and high IQ for many to justify “2 & 20.” I also think a Mrs. Montier might insist on a better picture. Click here to read more.
How rare is it for a visible corporate leader to speak publicly on anything but their latest green initiative? ——July 2011 Conference Call————————————————————————- I believe in Las Vegas. I think its best days are ahead of it. But I’m afraid […]
“If the European Union could monetise the value of the credibility it has destroyed it would be the richest organisation on earth,” said one major credit manager. From The Telegraph
To the best of my knowledge, Van Hoisington and Lacy Hunt have been long 30 year Treasury strips since I started in this business in 1984 and the record has been ridiculously good in a cheerily volatile way. This is […]
Bianco Research Comment: “Since December 2002 Bloomberg has conducted 99 monthly surveys. Of these, an incredible 95 surveys (96%) have forecasted higher rates. To repeat, only four times since 2002 (4%) have economists been forecasting lower rates. Those instances are […]
Download Cove Street Capital’s July 2011 Investment Strategy Letter Number 1, “Volume 1, Issue 1”
The Cove Street Team remains confident we will see a European Vacation at an acceptable exchange rate. A nice paid clip from the FT: ——S&P: Calling a Spade a Spade——————————————————————- Be careful what you wish for. Those European politicians who […]
Only somewhat facetiously, I wonder out-loud why Jack Ma was not arrested at the US border last week when he spoke at The Wall Street Journal’s All Things Digital Conference. On a massive and very public scale, he is conveying […]
At what was surely a suave gathering of banking officials in Atlanta on June 7th, this exchange was noted between Morgan’s Jaime Dimon and Fed Chief Ben Bernanke. The answer should scare you. Mr. Dimon: Y’know, I have this, totally, […]
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