Category: Thoughts

TYB is not a crime and we are in favor of it as much as the next person with a full position. But rarely do

Many institutional clients judge us on relative results vs the Russell 2000 Value. 25% of the index is in Financials which are mostly banks. Reason

Mean Reversion. Valuation Matters. Behavioral Finance- people take a long time to see, admit and react to change. Dot-Com Redux How to invest after valuation

Press Release from FederalReserve.gov December 02, 2022 Statement by Governor Waller on principles for climate-related financial risk management for large financial institutions “I cannot support

Excerpt taken from Graham & Dodd Annual Breakfast 2022 Guest Speaker: Todd Combs, Moderator: Michael Mauboussin Summary: The event’s guest speaker was Todd Combs and

Excerpt from Musings on Markets: META Lesson 1: Corporate Governance “After five decades of research in corporate governance, my sense is that we have lost

Graphs from  “Visualizing Countries Grouped by Their Largest Trading Partner (1960-2020)” Read the full article here.

From the Financial Times: “Bernanke, who led the Fed for two terms from 2006 to 2014, was criticized in some quarters for failing to foresee

Take a gander at the takeaways from this “thought piece.” One can make fun of the history of UN fecklessness, but this line of thinking