November 13, 2015

Contrarian and Trend Timing

Fun article from AQR on contrarian and trend timing.  You know I like it! Graph then link: —- DOWNLOAD Market Timing is Back in the Hunt for Investors LINK https://www.aqr.com/ Get a Free Subscription! If you send me an email […]
November 8, 2015

13F: Children’s Investment Fund Management

APPENDIX X – The Children’s Investment Fund Management It’s called The Children’s Investment Fund Management, but it doesn’t have much to do these days with the charity from which it got its name. TCI, as it is now usually called, […]
November 5, 2015

Trinity and Tigers

I published a piece yesterday on the blog about including trend in a global allocation portfolio.  Most institutions don’t invest much in trend strategies which I think is a shame. Also, this email is focused on a new piece from […]
November 1, 2015

13F: CANNELL

APPENDIX X – Cannell Capital When it comes to bombast, few can measure up to J. Carlo Cannell, not even the king of loud equity commentary, Jim Cramer. An activist investor, Cannell took a major stake in TheStreet Inc., the financial […]
October 25, 2015

13F: SouthernSun

CHAPTER 19 – SouthernSun Asset Management Back in 1989, when the old Union Planters Bank of Memphis sold its asset management business, money manager Michael Cook, a Memphis native, found himself without a job. So he made one up, launching […]
October 18, 2015

13F: RAIFF

CHAPTER 17 – Raiff Partners, Robert Raiff Robert Raiff doesn’t mind betting a sizable chunk of his portfolio on a single position, regardless of how popular or unpopular a particular company is at the time. As a value investor interested […]
October 15, 2015

Pettis

I spoke at a conference awhile back where Pettis was also a speaker, and he was fascinating.  Granted, by the end of the talk my head hurt, but I have since followed his work with great interest.  Below is a […]
October 13, 2015

EM

I’m sorry for sending out so much from Research Affiliates but they’ve been cranking out some great content. And you know I can’t pass up the opportunity to include a CAPE ratio related piece! Chart then the download: —- —- […]
October 11, 2015

13F: EAGLE

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 […]