Investing in a Bear Market: Bear Traders & The Basics of Breakeven
Bear Trading: The quick road to severe setbacks The chart below shows the five largest bear markets since the 1960s Above each bar is the date the bull market ...
Cheap Stocks Right Now are the Exception Not the Rule
Identifying the Rare Firms With Big Profits, Low Prices and a History Of Flying Higher+ Flying Fortress Stocks: Making Money with a Margin of Safety The legendary B-17, the third ...
Stock Market Bubble
Record Returns & Record Prices: The chart shows the rolling annual returns of the S&P 500 since 1963 We put the Price to Sales ratio above the years that ...
Cheap Stocks with Dividends & Buybacks
On Friday, our Charts for the Curious highlighted that companies trading below 10x earnings had become remarkably rare. As promised, this piece is designed to add force to just how ...
Digging for Deep Value: Stocks Below 10x Earnings
The chart shows the number of firms trading below 10x earnings is at all-time lows We chose 10x earnings because it is a round number and really simple Many ...
Consumer Staple Stocks: Investing for the Long Haul
Food & Beverages in an Age of Tech Euphoria This Quick Take is simple. We think the market is in the process of transferring wealth from the impatient to the ...
Large vs Small Cap Stocks: Could the Past be Precedent
The Case for High-Quality Small Caps: The chart shows that small cap value stocks have only been this cheap vs. large cap stocks at the peak of the dot.com ...
The Steep Cost of Stock Compensation
Are Stocks With the Highest Growth Healthy? The chart shows the market cap of firms where stock compensation represents over a third of SALES We have written three pieces ...
Small Cap vs. Large Cap Stocks: The Power of the Petite
Can the Might of Mean Reversion Send Small Caps Higher? Our research team published a very simple Chart for The Curious earlier this month comparing the relative size of small ...
Stocks versus Bonds and the Problem with Profitless Stocks
The Problem with Peak Prices and Record Low Yields: In Seth Klarman’s Margin of Safety Book, he discussed the 1980s junk bond mania before it imploded Back then many ...
Inflation Investing
Geopolitics, Domestic Affairs and Investing in a Time of Uncertainty Introduction: A Break from Tradition This letter has an established tradition of bringing a highly specific and pointed approach to ...
Stock Prices & The Might of Mean Reversion
Making Simple Concepts Work for Your Investments: We have written a number of papers about the simple math that makes large cap investing in even high quality names difficult ...