Some interesting clips from the Financial Analysts Journal Q2, 2018 article entitled: Everybody’s Doing It: Short Volatility Strategies and Shadow Financial Insurers. A defining characteristic
Download Cove Street Capital’s May 2018 Strategy Letter Number 32, “As Good As It Gets? The Meme.”
From AQR Capital Management’s Journal of Portfolio Management
Can’t See For Miles The perils of technology forecasting, particularly regarding energy – Mark P. Mills Railroads, the automobile and aircraft, chemistry and pharmaceuticals, electricity,
From the “Adjusted Earnings” disease to privately funding and valuing Unicorns, to the (“alleged”) Theranos fraud, to zero covenant lending, to the spectacle of Elon
From the Sequoia Mutual Fund Shareholders meeting Q&A: Q. How do you think about securing an informational advantage with a company as large and well-
From JP Morgan’s CEO Jamie Dimon’s Letter to Shareholders 2018:: There are some modest negatives or potentially important differences (than during the last crisis): •
A friend of mine, Richard Lewis, runs a very interesting blog called Latticework Investing. Richard is a huge Charlie Munger fan and provides a great
Consolidated Tomoka Investor Presentation – 2018 Annual Meeting
BNY Mellon Annual Report: Our Financial and Business Performance Our company continued to produce reasonable financial performance in 2017. On a reported basis, our revenues
The SEC litigation against Elizabeth Holmes and Theranos.
From The Financial Times: Recently the financier Bill Miller donated $75m to the study of philosophy at Johns Hopkins University. The size of the gift
Plenty has been said to date about the general psychosis gripping the general public and equity markets as it concerns “cryptocurrencies.” We have noted these
“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
