“We’re in Omaha, let’s say you had bought the Union Pacific Railroad yourself, like we bought the BNSF, and you had bought it a year
We do have a number of client partners for whom we manage assets in a “socially responsible” fashion. That means a lot of things to
Download Cove Street Capital’s January 2018 Strategy Letter Number 31, “Another Lap Around The Sun”
From Research Affiliates: “What is often lost in the conversation of the right level of CAPE is an appreciation for expectations of return in the
What’s the most important consideration for investing? Howard Marks wrote a book titled “The Most Important Thing,” and I think it had 20 lessons. So
(Bloomberg) – Companies rebranding themselves as cryptocurrency firms aren’t the only ones benefiting from bitcoin mania. Crypto Co. today disclosed a private stock sale to
As we close out the year, I would like to “note” one Steve Duneier, who is frankly difficult to describe, as one can imagine after
From FT.com: “People have taken their fixed income allocations and turned them into credit allocations because they are scared of rising rates,” says Ashish Shah,
— Download this post as a PDF — “Until one is committed, there is hesitancy, the chance to draw back. Concerning all acts of initiative
From FT Alphaville, December 7, 2017: 1) The spread between the top three exchanges offering your product is no less than… $4,000. 2) The utility
From a November 2017 Counsel on Foreign Relations interview by Co-Chairman Ermeritus Robert Rubin of David Swensen, CIO of Yale University. So for most of
(Business Wire) — NEW YORK — November 17, 2017 Real Industry, Inc. (NASDAQ: RELY) (“Real Industry” or the “Company”) today announced that it has initiated
One of Wall Street’s Favorite Metrics Is Now Getting Mocked | Bloomberg
BITCOIN: J.P. Morgan boss Jamie Dimon: “It’s a fraud. It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.” In
Download Cove Street Capital’s October 2017 Strategy Letter Number 30, “Can You Walk Past the Doughnuts?”
— Download this post as a PDF — by Dean Pagonis | Research Analyst Intelligent investors can always come up with a slew of reasons
Picking Stocks Is Hard. It’s Even Harder With Growth: Gadfly (Bloomberg Gadfly) — By Nir Kaissar Picking stocks is famously difficult. But just how difficult
Some universal ideas that are entirely relevant here.
Being gluttons for punishment, this is the entire Bezos collection. At least we haven’t been short. Reprinted from the 1998 Amazon Annual Report Work Hard,
While he is reigning terror on the rest of portfolio, these are thoughts we share from Jeff Bezos. First, never use a one-size-fits-all decision-making process.
— Download this post as a PDF — “Is there not A tongue in every star that talks with man, And wooes him to be
Risk—the extent of loss that a person or an organization can withstand without having to significantly change spending habits. THIS drives a lot more market
Download Cove Street Capital’s June 2017 Strategy Letter Number 29, “Not Going Gently into the Night: Active Management and Electric Guitars”
Interesting things other people are thinking.
by Eugene Robin | Principal, Research Analyst Here at Cove Street, we often wonder: what would it be like to sit on a public company
The Cove Street Capital Women in Finance Program—Summer Edition—welcomes Beatrice Woodruff to the team. After an intensive CFA week of training, and to paraphrase Vince
By Jeffrey Bronchick, CFA | Principal, Portfolio Manager Colfax Corporation (Ticker: CFX) is a diversified industrial company whose present day life is cursed by the
From the Grants Interest Rate Observer: P.P.S. To root out speculative excess, a periodic mission of the Beijing financial police, is easier said than done
