July 27, 2013

The Foie Gras Bubble

James Montier is one of my must reads, and he had a phrase in this piece that stood out – “the foie gras bubble”.  He was referring to investors being “force fed higher risk assets at low prices.”  Unfortunately I […]
July 16, 2013

Earnings Above Trend….Is that Good?

Our friends at Sitka Pacific Capital Management have launched a strategy and research initiative.  It focuses on many of the topics we enjoy reading about, including market cycles, fundamental trends, valuations, and macroeconomic issues, among other things. It is a paid […]
June 10, 2013

Buffett’s Playbook

Charles Sizemore is another one of the participants in the InvestorPlace contest I joined for 2013.  (And depending on what is happening on any given day, my pick will be in first or last place due to the extreme volatility.) […]
June 5, 2013

Over a Decade of Buybacks

David Fried has been writing about buybacks for over a decade.  His newsletter, The Buyback Letter, has focused on companies buying back their stock since 1997.  And no surprise to readers, the stocks have regularly beat the overall market. I […]
May 21, 2013

The Time for the Money

Japan seems to be on everyone’s minds these days.  If you’ve ever seen Mark Yusko speak you know he is very dynamic, and often squeezes in a ton of slides into a very short time period.  Below is a 33 […]
May 16, 2013

Eclectic Thoughts

I sent out copies of our new book, Shareholder Yield:  A Better Approach to Dividend Investing,  to all of our subscribers the other day, let me know if you didn’t receive a copy.   The archives have also been activated, and I will probably […]
May 8, 2013

Know What You Don’t Know

The Spring 2013 Columbia Business School publication is out, and in this issue they have an interview with Himalaya’s founder Li Lu. A quick quote before the 60 page download: —- “You can recognize good ideas by reading a great deal and also […]
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 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 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 […]