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
A nice reminder for all of us…since it can seem easy to forget when one lives in a world seemingly full of unicorns.
“I don’t believe any of us have the pretension of believing that by being very good analysts, or by going through very elaborate computations, we
“I came, I saw, I purchased at a low multiple” …from Graham to Asness it still works. CLICK HERE to read more.
Investing other people’s money for a fee is fiendishly simple—just avoid being terribly wrong. This applies to widely diversified or concentrated portfolios. Read on.
Download Cove Street Capital’s July 2015 Strategy Letter Number 21, “Three Anecdotes Don’t Make a Data”
Related: Plus ça Change, Plus C’est La MêMe Chose. The following is a letter by Wynnefield Capital Management to fellow shareholders of OM Group (Ticker:
(Translation: Another Weasel-like Deal Where Public Shareholders are Sold-Out.) The topic for today is the deal announcement on May 31st that the OM Group (Ticker:
by Ben Claremon | Research Analyst As of the huge currency moves the world has witnessed over the last year or so, the topic of
All the Light We Cannot See — Anthony Doerr Churchill — Paul Johnson Hitch-22: A Memoir — Christopher Hitchens How Life Imitates Chess: Making the
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”
Download Cove Street Capital’s May 2015 Strategy Letter Number 20, “Don’t Bring a Knife To a Gun Fight”
Managing $163 billion is not easy. What this piece points out is: It’s generally right. “Private” or “Alternatives” are a good idea only when practiced
“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
by Rohan Rangaraj | Research Analyst One of the official Favorite Books in the Cove Street Capital Library is “The Outsiders” by William Thorndike, an
Download a recent speech by noted Soros “sidekick” Stanley Druckenmiller
by Eugene Robin | Research Analyst The magnitude of the recent price decline caught many of “us” off guard and caused many (including Cove Street)
From time to time I have embarrassing moments, like admitting I have read L.J. Rittenhouse’s book, “Investing Between the Lines: How to Make Smarter Decisions
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.
Mr. Gideon King’s parting notes on his decision to close down his hedge fund business: “Controlling capital and engaging intellectually is good work if one
From time to time we must look in the investment mirror and conclude that we are stinking and we have no one to blame but
Download Cove Street Capital’s January 2015 Strategy Letter Number 19, “The Great Complacency…Continued”
A friend of ours who works for a well-known activist firm summed it up perfectly when he said, “We are living in the era of
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
