Investment professionals and seasoned investors prize numbers that include repetitive patterns. With these abstractions of reality we can build nice neat statistical formulas that give us a good chance to be correct most of the time. The problem with that … Read more
Leave a CommentThis past week we learned that Gene Fama, Lars Peter Hansen, and Bob Shiller received the 2013 Nobel Prizes in Economic Sciences. These are relatively new awards that were first awarded in 1969 in honor of the founder of the … Read more
Leave a CommentEach week I feel like a one-person research or reconnaissance staff looking through the information clutter trying to avoid Improvised Explosive Devices (IEDs). I hope to dance through the minefield that is out there. Like most destructive forces, IEDs are … Read more
Leave a CommentIntroduction I have crossed the street to focus on fund and manager selection. In my former role at Lipper Analytical, now Lipper, Inc., a Thomson Reuters affiliate, I wanted to contribute something of benefit for the various fund groups and … Read more
Leave a CommentIntroduction Salespeople of all types are taught the doctrine of KISS: Keep It Simple, Stupid. A more specific version of this is the “elevator speech” to be used when meeting a client or prospective client in an elevator; it’s designed … Read more
2 CommentsIntroduction Is changing investment attitude all that is needed to change investment results? Is it as simple as changing your paradigm — flipping the coin to the other side? In my search for these and other answers I often take … Read more
Leave a CommentIntroduction In studying investment managers for more than fifty years, I have learned that the roles that they have played through their lives have an enormous influence on how they invest. What is true for the professional managers is also … Read more
Leave a CommentMany of us who claim to be long-term investors (LTI) worship at the feet of Warren Buffett and actually own shares in Berkshire Hathaway — as I do, both personally and in the private financial services fund that I manage. … Read more
Leave a CommentSpecial Bulletin Before we posted our normal Sunday thoughts below, we received an email from London stating that Ralph Acampora is now looking for a 23% correction. To me this is an important message. Ralph Acampora is, in my opinion … Read more
Leave a Comment