April 30, 2013

The Trillion $ Mistake

John Del Vecchio is a rare forensic accountant that sees opportunities both long and short (he runs funds on both sides including the newish forensic accounting ETF).  He did a short piece recently that isn’t publicly available,  but touches on […]
April 28, 2013

Philosopher’s Storm

This is interesting.  We are going to run some studies on the data and see what we can come up with.  A few quotes and a chart before the download: —- “When J.K. Rowling finished her first manuscript of Harry Potter […]
April 26, 2013

Questioning QE and More on CAPE

Quick housekeeping:  For those new to the list, we send out about 2-3 emails like the below each week.  There is no login.  At the request of many subscribers we will be adding an archive here soon, so stay tuned! […]
April 24, 2013


Cantor puts out some solid material from their equity derivatives strategy group of Cecchini, Lorenzo, and Elmihdawy.  In this issue they pray for the Japanese elderly… Below are a few quotes before the download: —- “It’s difficult to overstate the […]
April 22, 2013

Copper Inventories Rising

I have been following the work of Tom McClellan for years now, and enjoyed the chance to sit down and have a few beers in Seattle a few months ago.  Tom puts together some really nice charts and studies, often […]
April 19, 2013

GTAA Update

It has been four years since the last update to our 2006 white paper.  Below is an attached draft.  Since it is draft form, please do not distribute or forward along the email. Email me with any suggestions, questions, or […]
April 17, 2013

Fundy Improvement

Janiczek had a nice piece out last week that had a telling table.  It shows how much the S&P has improved on a number of fundamental metrics, but hasn’t budged much since 1999 on a price basis.  Just goes to […]
April 16, 2013


The Butler, Philbrick, and Gordillo crew has been putting out some great research lately.  (And no I’m not just saying that since we did a white paper together:  Global CAPE Model Optimization.) From the paper: “Finally, at the bottom of […]
April 12, 2013

The Short Side of Long

Below we feature a new (to me) newsletter called The Short Side of Long.  Tiho writes the blog and new email newsletter, often featuring lots of charts, and in this case it was his series on Commitment of Trader’s (COT) Reports […]
April 10, 2013

Sector Valuations: One Buy, One Bubble?

We updated all of our CAPE series at quarter end on Mebane Faber Research.  There are no downloads in this piece as I included all of the charts in the body of the email. First up is the CAPE values […]
April 2, 2013

A Special Issue

One of the biggest benefits of subscribing to The Idea Farm is getting access to some institutional research that is impossible to access elsewhere.  Andrew Garthwaite is one of my must reads, and below is his 65 page Global Equity […]
March 31, 2013

Romping Stomping Emerging Bull

WisdomTree is out with a piece examining dividend yields and future emerging market equity returns.  Needless to say they are bullish! Below are a few quotes and a chart before the download: —- + The average performance of the MSCI […]
March 28, 2013

Tactical Global Markets

Below we take a look at research from Northington Dahlberg Research.  The research below is geared more to the technical traders out there.  Carson and Kirk examine over a dozen global macro markets on multiple time frames (and with a lot […]
March 26, 2013

The Big Four Economic Indicators

Doug Short produces on a consistent basis some of the best charts anywhere.  You can find his handywork on Advisor Perspectives, and this week’s piece is on the big four economic indicators.  (Although he does amazing work with stock market […]
March 22, 2013

Small Cap Hedge Fund Picks

A quick housekeeping note before today’s issue.  I don’t pretend to consume information the same way my readers do (I still don’t have a Kindle or iPad, though probably should).  I was chatting with a reader over breakfast and this […]