April 6, 2016

Guide to Markets

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

CAPE Updates

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

Commodities 10 Years Later

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

DJCO Munger

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 on Markets

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

Flows Change Factors!

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

A Great Paper

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

Forecasting Returns: Simple Is Not Simplistic

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

Same Simple Secret

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

Dual Mo, on Stocks

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

#1 Read of the Year

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 […]
February 4, 2016

5 Great (Canadian) Stocks for 2016

The Canadian $ has been getting hammered, which is good for US skiers like me that really want to travel up the Powder Highway. Had not seen this source before but fun little article. Chart then download: —- —- Download […]
February 1, 2016

The Top 10 Hedge Funds

Fun little report on the top 10 hedge fund (clones) of 2015. List then download: —- —- Download PDF Top 10 Hedge Funds of 2015 Website: https://www.novus.com/ Get a Free Subscription! If you send me an email with a link […]
January 27, 2016

New White Paper

Attached is a short white paper I wrote on applying a value strategy to global sovereign bonds. It isn’t public yet so please don’t share!  I may have a few more edits to make… Chart then download: —- —- Download […]
January 17, 2016

The Global Income Investor Slide Pack

Basically dividend investing has no correlation to cash flows, but shareholder yield does.  You know I like it!  Lots of other great charts in here. Screenshots then links. —- —- Download PDF The Global Income Investor Slide Pack Website http://www.societegenerale.com Get a […]