In my view, these were my best posts written between February and April 2013:
I have a saying, “Don’t buy what someone wants to sell you. Buy what you have researched.”
And so I would tell everyone: don’t give brokers discretion over you accounts, and don’t let them convince you to buy unusual bonds, or obscure securities of any sort. By unusual bonds, I mean structured notes, and eminent men like Joshua Brown and Larry Swedroe encourage the same thing: Don’t buy them.
Why being careful with credit ratings is smart.
Be wary of odd asset classes; they are odd for a reason.
Where I do odd things in order to serve my client.
Odd stuff, but particularly insightful into some of the perverse dynamics inside investment departments.
How I led the successful effort to modify the Maryland Life Insurance Investment Law, and acted for the good of the public.
Where I explain the odd bits of being portfolio manager, while succeeding with structured bonds amid difficult markets.
I explain the good, bad, and ugly off of Berkshire Hathaway’s reinsurance deal with CIGNA.
Where I opine on some Sears bonds, and also on flu pandemic risk at RGA.
Mostly, I would teach them to think broadly, and realize the most of the complex investment math is easy to get wrong.
My replacement for MPT using contingent claims theory.
On finding companies with conservative insurance reserving
On the squishy stuff, where there are no hard guidelines.
People shorten and lengthen their time horizons at the wrong time.
On two odd situations inside a life insurance company.
On how we replaced a manager of managers.
Explains how there are many ways to do value investing.
Understand yourself, understand the advisor, understand the counsel that is offered, and finally, we wary of what you here through the media, including me.
There are many ways to torture the data to make it confess what you want to hear. Avoid that.
Where I explain what conditions are like when market tops are near.
Where I answer the question: Where does academic theory fail in finance and in economics?
Articles that explain the fundamental basis that underlies technical analysis.
How to play trends without getting skinned.
Full Disclosure: long RGA and BRK/B