Category Archives: Stocks

Advice on Organizing Asset Allocations and Managers

I was reading an occasional blast email from my friend Tom Brakke, when he mentioned a free publication from Redington, a UK asset management firm that employs actuaries, among others. I was very impressed with what I read in the 32-page publication, and highly recommend it to those who select investment managers or create asset […]

A New Exercise in Industry Rotation

At Abnormal Returns, over the weekend, Tadas Viskanta featured a free article from Credit Suisse called the Credit Suisse Global Investment Returns Yearbook 2015.  It featured articles on whether the returns on industries as a whole mean-revert or have momentum, whether there is a valuation effect on industry returns, “social responsibility” in investing, and the existence […]

One Dozen Reasons Why the Average Person Underperforms In Investing, Part 1

Brian Lund recently put up a post called 5 Reasons You Deserve to Lose Every Penny in the Stock Market.  Though I don’t endorse everything in his article, I think it is worth a read.  I’m going to tackle the same question from a broader perspective, and write a different article.  As we often say, […]

Learning from the Past, Part 3

I wish I could tell you that it was easy for me to stop making macroeconomic forecasts, once I set out to become a value investor.  It’s difficult to get rid of convictions, especially if they are simple ones, such as which way will interest rates go? In the early-to-mid ’90s, many were convinced that […]

Talking About Value Investing and Fed Policy

Here is the second part of my interview on RT Boom/Bust. It was recorded while the FOMC was releasing its statement, so I had no idea at that time as to what the announcement had been. The interview covers my view of Apple (not one of my strong points), Fed Policy, and what should value […]

Like a Cardinal, The Price Action Will Be Red

Okay, let’s roll the promoted stocks scoreboard: Ticker Date of Article Price @ Article Price @ 1/20/15 Decline Annualized Dead? GTXO 5/27/2008 2.45 0.011 -99.6% -55.6% BONZ 10/22/2009 0.35 0.000 -99.9% -72.5% BONU 10/22/2009 0.89 0.000 -100.0% -82.3% UTOG 3/30/2011 1.55 0.000 -100.0% -92.0% Dead OBJE 4/29/2011 116.00 0.069 -99.9% -86.3% Dead LSTG 10/5/2011 1.12 […]

Living in the Land of Worries, Part 1

There is always a reason to worry, and always enough time to panic. Look over there, behind that bush: interest rates are rising. In Europe and China, deflation is threatening. The geopolitical situation is in many ways tense over Russia and Middle East issues. Japan is a mess. Emerging markets will get hit when the […]