Never in the history of the world have more people had more access to information. And yet… On My Mind: They Blinded Us From Science
One of the more difficult parts of my job is to essentially say the same thing in novel ways in order to keep clients, listeners,
A very long time ago, the author was the first outside columnist for TheStreet.com, which in its early days had a terrific set of people
So imagine you are on one of those innumerable TV cop shows where apparently if you stick a variety of crime scene photos on a
An extraordinarily cogent narrative of why this is our largest position. He almost had us until the Buffett and Graham part. Worth reading twice end
Early in my career, I would saddle up the horse and carriage, go to the office, call a company of interest and ask for them
In a world that loves data and quantification no matter what the source or the possibility of reaching a bewildering machine learned conclusion that makes
This study should either seem obvious and not worth reading past the summary; or it should seem obvious and therefore Elizabeth Warren is the obvious
Swimming against the prevailing investment tide is often fairly difficult. Humans by their nature feel safer in the crowd and standing out from said crowd
From Charlie Ergen’s Q2 SATS Conference Call: “So it’s an interesting time. I think patience — I hope our patience will be rewarded. It hasn’t
Did Lockdown Work? An Economist’s Cross-Country Comparison by Christian Bjornskov
Observation: If something cannot go forever, it won’t. At current performance rates, there will be five stocks comprising 110% of US market cap. That “seems”
SEC Proposes a Significant Change in Reporting by Institutional Investors It is truly amazing how much time and effort and dollars are spent tracking what
Cove Street has received a number of inquiries from both existing and potential clients regarding any changes we have made to our investment process due
Cleary Gottlieb’s Memo released on July 24th: Shareholder Complaints Seek To Hold Directors Liable For Lack of Diversity
Radical Uncertainty: Decision-Making Beyond the Numbers by Mervyn King and John Kay I am fully aware of my ability to convey enthusiasm about seemingly esoteric
More fun summer reading. What is relevant are recent rumblings – promoted by “gee, not sure” – to allow 401K funds to offer Private Equity
While we prefer to spend most of our time on micro analysis, one cannot avoid being dragged into some of the issues of the day.
While we hate to generalize or box our thinking into “styles,” we naturally, self-evidently, and painfully—today—consider ourselves value managers. We have had many conversations in
Epidemic forecasting has a dubious track-record, and its failures became more prominent with COVID-19. Poor data input, wrong modeling assumptions, high sensitivity of estimates, lack
I recently had the opportunity to discuss Cove Street’s investment process and a few individual securities in an interview with Hidden Value Stocks. Specifically, in
As Beijing moves swiftly to increase control over Hong Kong citizens this week, the Wall Street Journal warns that their actions highlight a broader ambition
This is emblematic of Dumb Money — courtesy of people who are Smart Sellers: Lemonade IPO
As analysts, we are tasked with identifying companies that can produce favorable risk adjusted returns with a substantial margin of safety. Like any number of
JUNE 2020 — We are back, to some degree. I am referring more so to communication with the world outside of our client base,
At risk of creating a widespread Dankberg “crush,” this is the “beyond the spreadsheet” case for Viasat that doesn’t get much play from the “how
It is almost always a contrary indicator when the sell-side is unanimous, but what happens when they can’t agree at all? In reality, when there
Cove Street’s experience in working collaboratively with companies to improve corporate governance practices and capital allocation strategies has yielded a very simple insight: being a
“We” applaud the creation of Exchange Traded Funds as a low cost and liquid way for investors to achieve portfolio diversity. We then apply the
At a recent “meeting” of the Asset Management Advisory Committee, Jay Clayton, chairman of the Securities and Exchange Commission, noted: “I have not seen circumstances
