May 23, 2014

% of Stocks w/ Trailing LTM PE < 13X Russell 3000

Steve Romick is a fellow Angeleno, and if you don’t read his commentary you should.  Below are two charts and some commentary form his recent letter. Charts then downloads: —- “Suffice to say we aren’t seeing much in the way […]
May 22, 2014

Year of the Gator

If I wasn’t on the road for six weeks I would have tried to make the iCIO conference in Carolina. Below is Yusko’s presentation, as well as his quarterly update. Quote then downloads: —- “I have an Investment Rule that […]
May 19, 2014

The Beginning of the End

(Note: Attached the white papers from the last Farm email…not sure why I can’t figure out SSRN) This piece is more on the business of asset management rather than an investment idea, but I think it’s great.  I had to […]
May 18, 2014

Mo Mo Mo!

Long time readers know that my favorite place to invest is the intersection of value and momentum.  Below is one article and two new white papers all worth a read on momentum, and value and momentum. First chart from Patrick […]
May 15, 2014

Dividend and Buyback FAQ

Nice piece from Credit Suisse and Mauboussin on what companies do with their money. Quotes then downloads: —- -Corporate cash balances are building because Corporate America’s return on investment is high and its reinvestment rate is modest. The issue of disbursing cash […]
May 4, 2014

Where is Yield Curve Steepest?

Interestingly enough, a lot of the countries with steep yield curves are also some of the countries with the cheapest valuations.  A nice combo. Charts then downloads: —- —- Download PDFs A Classic Barometer Websites http://www.rba-llc.com/
May 1, 2014

Value Line MAP

It has been a little quiet lately but the good news is I have some great reads on the way, including one of my favorite newish newsletters below.  The Macro Trader looks at another valuation metric from Value Line and […]
April 14, 2014

Building a Better Global Macro Portfolio

It has been a little quiet on the email front as not a lot of interesting reads have crossed my desk lately.  This weekend, however, included two great reads so I though I would include them in one email.  First […]
April 2, 2014

CAPE Part II

Thanks to a reader for noticing the sector dates were incorrect.  Updated below. Also note that I excluded frontier markets in this update.  For some reason many of the series were not updated at our data vendor, and rather than […]
April 2, 2014

CAPE Updates

CAPE Updates, Sectors then Countries: Country Start Date Latest Date Latest Financials 3/31/93 3/31/13  10.69 Energy 3/31/93 3/31/13  15.04 Utilities 3/31/93 3/31/13  16.47 Telecom 3/31/93 3/31/13  18.68 Materials 3/31/93 3/31/13  18.93 Industrials 3/31/93 3/31/13  19.22 Healthcare 3/31/93 3/31/13  19.82 ConsStpls […]
March 9, 2014

Like Tiger Like Cub

Long time readers know I’ve always been a big fan of the Tiger complex (Julian, Cubs, and GrandCubs).  Novus has a fun piece out, a quick quote then the download: —- “Consider this: Based on our methodology, there are currently […]
March 4, 2014

Yale Endowment Update

I always look forward to the Yale Endowment Update.  Below is the updated allocation chart, followed by the download: —- —- Download PDF Endowment Update Link http://investments.yale.edu/images/documents/Yale_Endowment_13.pdf
February 27, 2014

A Favorite Combo

Combining two of my favorites – Montier and the CAPE ratio.  And I’m not just saying that since I have a chart in there! I’m excluding a figure due to internet issues… Download PDF CAPE Crusaders Link http://www.gmo.com/
February 25, 2014

Down on the Farm

TIAA-CREF and the University of Illinois teamed up for the Center for Farmland Research.  You can find lots of white papers on the site, including a fellow on the main page that looks shockingly like Walter White of Breaking Bad. […]
February 20, 2014

Nothing Burns Like the Cold

I look forward to reading Scott Minerd’s weekly Macro View.  The past two weeks he has touched on how the frigid cold in January has temporarily pushed down lots of econ data – and he expects this to be a […]