Practical analysis for investment professionals

Warren Buffett


13F Watch: Shareholder Activism Pays

When compared to the hedge fund industry at large, activist investors have garnered a disproportionate share of the headlines this year, and for good reason: they’ve been busy — launching 148 activist campaigns in the first half of 2014 alone — and they continue to outperform their hedge fund peers.

Weekend Reads for Finance Pros: Bogle, Baseball, and Investment Bubbles

This week's round-up of interesting papers, articles, tweets, and blog posts covering economics, investor behavior, retirement, and more.

Weekend Reads for Finance Pros: Hedge Funds, Charlie Munger, and the World Cup

Charlie Munger once said: "In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none. Zero. You’d be amazed at how much Warren reads — and how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”

Weekend Reads for Investors: Repo Mania

It's perhaps not surprising that US corporations have taken advantage of historically low interest rates by issuing record amounts of debt. It's revealing, however, that companies are using the proceeds to buy back their shares with stock prices at all-time highs. According to S&P Capital IQ, US firms are repurchasing their shares at a pace not seen since 2007.

Are We Complacent or Petrified?

After examining his own and others' current thinking, A. Michael Lipper, CFA, believes our low level of activity in the market could indicate that we have become petrified.

13F Watch: Activist Investors Fill the Void

Thanks to a bull market and strong relative returns, assets under management for activist investors have swelled — tripling in just the last five years — allowing these high profile fund managers to launch more campaigns and take on bigger companies.

Weekend Reads for Finance Pros: Bubbles, Fama and French, and Executive Brains

Have you wondered how an economics book written by a French professor — Thomas Piketty’s tome Capital in the Twenty-First Century with 577 pages of text and graphs plus 78 pages of notes — scaled the best-seller lists on Amazon and the New York Times? As with so many things in life, timing is a factor.

Poll: Little Support for Buffett’s Abstention from Coca-Cola Vote

Thomas Piketty’s popular new book, “Capital in the Twenty-First Century,” has struck a chord with the public in part because of a growing disenchantment with the generous compensation packages lavished on corporate executives, so it was not without irony that last week 83% of Coca-Cola’sshareholders approved a controversial equity compensation plan for approximately 6,500 employees that had been widely panned as excessive.

Weekend Reads for Investors: Berkshire Bears in Hibernation

Tens of thousands converge on Omaha, Nebraska, at this time each year to hear from Warren Buffett and his longtime partner Charlie Munger. Earlier this week, Buffett announced that he couldn’t find someone with a bearish stance on Berkshire’s stock to join him on stage, something he started last year, with Doug Kass filling the role of skeptic.

Weekend Reads for Investors: Diverge From the Herd

Oaktree Capital’s founder and chairman Howard Marks publishes periodic memos that are widely considered “must reads” for those in the investment industry, and his latest missive should be no exception. In ” READ MORE ›



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