December 12, 2014

5 Years

It is easy to get caught up in short term results in markets (just look at zero coupon bonds this year!), and 5 years can feel like a lifetime.  Below Cliff looks at a basic three fund portfolio, short but […]
December 7, 2014

13F: Avenir

I’ve decided to both to make everyone happy…text in the body of the email and a PDF. 13F week 6…AVENIR Download PDF CHAPTER 6 – AVENIR CORPORATION “We focus on what is knowable, starting with the truth that the investment process […]
December 2, 2014

A great one

Novus is becoming one of the best sources of hedge fund intelligence, new report below… Chart then link: —- —- PDF Intelligence Report Website:
November 30, 2014

13F: Ariel

13F week 5…I’m experimenting with just pasting this in the body of the email instead of a PDF… CHAPTER 5 – ARIEL INVESTMENTS “The problem is that most investors do not view negative returns and extreme volatility opportunistically.  As self-proclaimed […]
November 27, 2014


I was a little too quick to send Tepper’s portfolio last weekend, it was slightly off.  Correct one below! Happy Thanksgiving!
November 25, 2014


13F week 4…Tepper! Download PDF APPALOOSA
November 21, 2014

Bond Risk

Short piece from Ineichen.  Quick read with a couple good charts on stocks vs. bonds.  While stocks are more risky by vol, bonds can slowly bleed to death in inflationary times… Chart then link: —- —- PDF MYTH: Time reduces risk […]
November 16, 2014

13F: Akre

13F week 3 includes our third manager profile (after Buffett & Abrams)… AKRE
November 14, 2014

Mo Fundy Value

I haven’t read much of interest lately (if you see anything great pass along as always!). We’ve featured a lot of Research Affiliates though, and this email they look at some very simple factors back to 1960s.  Nothing you probably […]
November 9, 2014

13F: Pros and Cons & Abrams

13F week 2 includes pros and cons of the strategy and our first manager profile! PROS & CONS & ABRAMS
November 2, 2014

13F: Introduction

I promised to start sending out a series of posts on tracking my favorite hedge funds and their stocks picks.  Starting today I will be sending out a weekly post on Sunday for you to read with your NFL consumption.  […]
October 23, 2014

Sharpe Sweet Spot

I like reading Niels Jensen’s Absolute Return letter.  He’s been absent for awhile due to a bike accident (get better Niels!), and below is his October piece.  I have seen the below chart with real returns but never Sharpe Ratio […]
October 21, 2014

Trendfollowing in Rising Rates?

I sat on a panel with Vineer at a conference and found him to be quite intelligent in our wide ranging discussion.  Below is a fun new paper from PIMCO on trendfollowing(!) in various interest rate environments. Below is a […]
October 17, 2014

Oh, Hell Yes

Research Affiliates just launched a Capital Assets Forecast Portal – and it is awesome.  Shiller CAPEs, fixed income, and more all with cool graphics….No download, just a picture. Go to the website and spend some time…one of the cooler resources of […]
October 15, 2014

All the CAPs in the World

Great news!  I partnered up with Ned Davis to build all the cyclically adjusted metrics and they are letting me send them out…I sorted them based on the average across all four metrics in the second table.. I also included […]