“The best thing is to be a high conviction investor. When you dabble and just put a bunch of money on things you don’t know or understand, it tends to work out badly.”
– Jon Gray
RESEARCH
Hendrik Bessembinder – The Role of Net Income Growth in Explaining Long-Horizon Stock Return (18 pages)
Hendrik Bessembinder gets into the explanatory power of growth in a handful of accounting-based firm characteristics with decade-long horizons in mind.
Source: Hendrik Bessembinder. For illustrative and discussion purposes only.
BONUS CONTENT
The U.S. has had lost decades as well, from 1937-1950, 1968-1983, and 2000- 2013. Will it happen again? Link
Can we quantify whether returns are due to luck or skill? Link
Most managers can’t beat the market. Link
Maybe money can buy you happiness. Link
Redfin with a housing update and why “what’s happening in the housing market feels more like a ‘new weird.’” Link
PODCASTS
Morgan Housel – The Psychology of Money (Your Questions Answered)
[9/15/22 – 50 minutes]
Apple | Spotify | Google
Morgan Housel touches on topics from his best-selling book, The Psychology of Money, and answers questions around his writing process, how to teach your children good financial habits, and more.
From The Episode:
“All behavior makes sense with enough information.”
Stanley Druckenmiller, the #1 investor in the world – See the future differently
[9/22/22 – 70 minutes]
Apple | Spotify | Google
Legendary investor Stanley Druckenmiller walks through the big moments in his life, his approach to investing, and why we’re living in a time that’s unlike any period he’s seen before.
From The Episode:
Tom Thornton and John Roque With an All Star Lineup – When Doves Cry
[8/30/22 – 165 minutes]
Apple | Spotify | Google
This is from a Twitter spaces and features Jim Chanos, Doomberg, Jim Bianco, Nancy Davis, and others, share their view of the market today.
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