October 11, 2015


Archives updated through last Q. I’ve been slacking on the Sunday 13F updates due to all the travel, good news is they will continue again weekly starting this week.  I have 13 queued up that should take us through year […]
October 8, 2015

White Paper Updated

Thanks for all the comments on the white paper, including spelling the title correctly! (Man do I need an editor…) Fixed and clarified some parts, but mainly the same flow.  As always, it is hard to strike a balance between […]
October 8, 2015

Risky Business

Good article on risk parity from the good folks at Bridgewater.  Though their opening paragraph is pretty funny.  See if you can decide if the quote in the first paragraph sounds more like a XXX script or hedge fund letter… […]
October 6, 2015

Buybacks an Oasis?

Good article on buybacks (err, issuance). Quote, chart then the link: —- “The media has been all over the $700 billion in buybacks. But how many have noticed the $1.2 trillion in new share issuance? ” —- Download Are Buybacks […]
October 4, 2015

My New White Paper!

I’ve been working on a new paper, and I’m sharing it with the Farm list before publishing. (So don’t share publicly yet please!) Also, let me know what you think! One chart then the download: —- —- Download Learning to […]
October 2, 2015

CAP Updates

Quarterly CAPE Ratio Updates! As a reminder, we transitioned to using the MSCI IMI Indexes this year as we believe it is most accurate for the smaller countries.  It doesn’t really change the conclusions at all for the countries but […]
September 29, 2015

My Nightmare

I know a lot of institutions are big fans of illiquid assets, but honestly they are my nightmare. One quote then the link: —- “We have evaluated the common view that investors should be able to harvest a liquidity premium […]
September 27, 2015

The Yin and Yang of Factors

You know that I like this piece!  On the combo of value and mo… One chart then the link: —- —- Download How Not To Wipe Out With Momentum Website www.researchaffiliates.com/ Get a Free Subscription! If you send me an […]
September 16, 2015

Turns Out, CEOs Aren’t Stupid

I’m surprised this article didn’t get more coverage in the financial media.  I sent a summary earlier but here is the full article from OSAM on buybacks. One chart then the link: —- —- Download High Conviction Buybacks Website http://osam.com/ […]
September 13, 2015

A Curveball

The request for readers to send in their favorite reads is working out great, both of the last two issues were reader submissions.  As a reminder, I’ll rebate you a $100 credit if we use the piece so keep ’em […]
September 10, 2015

A New Source

I actually had no idea KKR put out some good research until a Farm reader emailed it over.  Good stuff with lots and lots of charts. One chart then the link: —- —- Download Begin Leaning In Website http://www.kkr.com/ Get […]
September 7, 2015


Corrected the download for 13D issue: —- Download 8/27 Issue Website http://www.13d.com/ Get a Free Subscription! If you send me an email with a link or attachment to a piece you think readers would love, and I use the piece, […]
September 7, 2015


Kiril and the folks at 13D write incredibly detailed commentaries on the markets.  Their flagship “What I Learned this Week” is a deep dive, and they have agreed to let us share this piece. Screenshot then download… —- —– Download […]
September 4, 2015


I’ve always enjoyed the Value Investor Insight and Super Investor Insight publications.  Here are two recent ones. One charts then downloads: —- —- Download Value Investor Insight July 31 Issue SuperInvestor Insight June Issue Websites http://www.valueinvestorinsight.com/ Get a Free Subscription! […]
September 2, 2015

Tracking the Activists

Those who have an interest in following the activists will like today’s piece.  Below are three pieces from Activist Insight. Screenshot then downloads… —- —– Download August 2015 July 2015 Annual Review Website Home Get a Free Subscription! If you […]