The following is a pretty accurate assessment of what is going in the US economy – we think. “—MSC Industrial Direct Q3 Earnings Call —
From the March 2, 2016 Wall Street Journal: Some traders go short. Others go long. Paul Singer went really, really long. His trade, which is
One of the reasons why Buffett remains important to us is the increasing frequency at which he echoes our own thoughts: I suggest that you
A terrific read.
While parts of this wander from what we do day to day, I think it can be argued that it is difficult to divorce these
Click HERE to download Is Economics Research Replicable? Sixty Published Papers from Thirteen Journals Say “Usually Not.”
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
Dole C.E.O. and Aide Found Liable for $148 Million in Buyout
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
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
by Ben Claremon | Research Analyst As of the huge currency moves the world has witnessed over the last year or so, the topic of
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”
“Logic and experience indicate that barring investments in a major, integral sector of the global economy would—especially for a large endowment reliant on sophisticated economic
I have been an on-again, off-again subscriber of the Journal of Applied Corporate Finance (and a predecessor) for more than 20 years. It is worth
Download a recent speech by noted Soros “sidekick” Stanley Druckenmiller
by Dean Pagonis | Research Analyst We think you might have noticed the dollar has been appreciating versus most currencies. (Have you heard the one
This report remains the single most coherent and consistently negative argument against…a lot of things we do.
A senior member of our investment team read this transcript and couldn’t help but replace the words “investment management” in lieu of the subject being
Read Part I: “The Worst Piece of Corporate BS,” 02/11/2013 A recent article in the Wall Street Journal penned by Michael Dell is so full of
“The hipster effect: When anticonformists all look the same” by Jonathan Touboul
Politics aside, we are regularly asked by large institutional clients, “How is Climate Change affecting the way you invest?” Our short and practical answer is
Our takeaway on Janet Yellen’s speech is three-fold: We paraphrase: “Wise regulation, which is mostly now in place globally, will ensure that future financial crises
Read this article from the New York Times and replace many of the nouns with “investor,” “stock,” and “investment industry.” Long before social media, Wall Street
by Ben Claremon | Research Analyst BERKSHIRE This past weekend’s trek to Omaha for the Berkshire Hathaway annual meeting represented the fifth consecutive time I
Please insert the phrases “money manager,” “hedge fund,” “large pension plan,” and “underperformance” at will throughout this piece. The Nonsense Math Effect Mathematics is a
While we prefer not to opine in a macro-economic sense on most occasions, this piece sourced from Grant’s, nicely sums up thoughts expressed in a
We have embarked on a longer-term project to digitize about 6 yards and 28 years of collected investment “literature.” Because this is the age of
