April 21, 2016
If you’re going to allocate to an active manager, they better be different. Bonus piece on microcap factors that work. Chart then download: —- —- Download PDF Alpha or Assets A True Microcap Strategy Website http://www.osam.com/ Get a Free Subscription! […]
April 20, 2016
Great slideshow from Start Capital, with some awesome charts! Chart then download: —- —- Download PDF Stock Selection Website http://www.starcapital.de Get a Free Subscription! If you send me an email with a link or attachment to a piece you think […]
April 15, 2016
Fun little list of some of the top small hedge funds. Can’t really call Cannell emerging… Chart then download: —- —- Download PDF Top Emerging Hedge Funds Website: https://www.novus.com/ Get a Free Subscription! If you send me an email with […]
April 10, 2016
Yale’s 2015 endowment update is (finally) out. Always a fun read, and this year they dive into their successful PE investment program. Quote, allocation, then download: —- “Over the past twenty years, the venture capital program has earned an outstanding […]
April 6, 2016
Some great charts as always (also lots I don’t agree with). Two charts then download: —- —- Download PDF Guide to the Markets Website https://am.jpmorgan.com/us/en/asset-management/gim/adv/insights/guide-to-the-markets Get a Free Subscription! If you send me an email with a link or attachment […]
April 4, 2016
Quarterly CAPE Ratio Updates! Average CAPE Ratio: 25% most expensive: 23.47 (U.S. in this bucket, and now ranked #2 most expensive in the world) 25% cheapest 9.75! Average emerging country is 14.52, developed 17.14. Here it is in Excel too. […]
March 16, 2016
Two for Wednesday. First, a famous commodities paper updated 10 years later, and second, a review of the most skilled hedge fund managers. I found the below table on basis particularly interesting. Table then downloads: —- —- Download PDFs Facts […]
March 3, 2016
I was so sad to miss the DJCO meeting again with Munger at the helm. Thankfully we have a nice summary here below! Quote then download: —- How did you balance reading that much and having so many children? When […]
March 1, 2016
Maketa does a wonderful job of updating global returns with simple and intuitive charts. They send these out quarterly and this is the year end version. Wish I had some of these 10 years ago… Chart then download: —- —- […]
February 26, 2016
The last few times my quant friends and I have gotten together and they’ve asked what I’ve been thinking about, my answer has been “factor rotation”. Meaning, while we all know certain factors work over time, there are times when […]
February 24, 2016
32 pager from our friends at Star Capital on using valuation methods to forecast stock returns…you know I like it! Charts then download: —- —- Download PDF PREDICTING STOCK MARKET RETURNS USING THE SHILLER CAPE Website http://www.starcapital.de/ Get a Free Subscription! If you […]
February 22, 2016
Fun little piece from Research Affiliates on forecasting models. Chart then download: —- —- Download PDF Forecasting Returns: Simple Is Not Simplistic Website http://www.researchaffiliates.com/ Get a Free Subscription! If you send me an email with a link or attachment to a […]
February 17, 2016
Much like our article on Buffett’s underperformance a few weeks ago, all great active managers go through periods of underperformance. Below is the 2016 outlook for Gotham Funds, run by Joel Greenblatt and Robert Goldstein. A wonderful paragraph and full letter attached: […]
February 15, 2016
My old white papers talked about combining momentum (relative strength) and trend (time series mo). It works great across asset classes, and apparently, within stocks too. Table then download… —- —- Download PDF The Enduring Effect of Time-Series Momentum on […]
February 11, 2016
The yearly update to my favorite investing book, Triumph of the Optimists, is out! Credit Suisse’s Global Investment Returns Yearbook 2016 is here! Do yourself a favor and go and read all the archives too… Chart then download… —- —- Download […]