Is Equity Beta Broken?
Beta, or the amount a stock price goes up and down relative to the market, is a popular measure of “risk” Famous investors such as Seth Klarman have observed ...
Investing in Stock Bubbles, Bonds & Value Investing
A Bull Market in the Basics, Part II In our Quick Take from April 14, we demonstrated the value of staying calm when the markets are embracing madness. In that ...
TAM Total Available Market Myths
We’re the Next Amazon – This NEVER Ends Well: We believe “Total Available Market” stories and obsession with stocks that grow fast are as overhyped today as in 1999 ...
Heretics Corner – Bitcoin an Environmental and Geopolitical Disaster
Some Bear Takes on Bitcoin One of our very accomplished and wise readers recently noted in a piece that “hostility towards bears” is one of the hallmarks of euphoria. ...
Financial Stocks: Best Stocks to Buy for 2022?
Buy Financial Stocks vs. the Index? FACT: Bank of America earns 30x the profits of ZM, but BAC is only ~3x bigger Sometimes the greatest investment ideas can come ...
Warren Buffett’s Investment Strategy
A Bull Market in the Basics: Bonds & the Evidence for Value Investing Yes, Kailash has done vast amounts of research on the historical data and built powerful proprietary models ...
Macro Aware & The Need for KCR’s Equity Duration Tool
A Critical New Metric to Estimate Risk & Return: KCR does not make macro forecasts, but we are “macro aware” – inflation has never been more topical Our piece ...
The Great Inflation & Equity Duration
Why the Kailash Equity Duration Tool is a Must Have for Managers This paper extends on our last piece, The Great Inflation. Our research indicates investors and asset allocators face ...
A Well-Engineered SPAC
Another Reason to Pursue High Quality Value Investing My father, a youthful 77-year-old, recently flattered me with some investment advice. Having recently received an email solicitation encouraging him to ...
Difference Between Growth and Value Stocks Looks Like an Opportunity
For a basic explanation of value v growth stocks skip below the chart The chart below shows the 3-year performance spreads between Growth and Value have reached levels last ...
The Great Inflation of the 1970s
This newsletter seeks to prove that our prior paper, The Case for Common Sense...
Amazon Stock Compensation & Equity Valuation
Bloomberg News recently published an article, Amazon Fights Union Drive With Fact-Free Bombast, discussing Amazon’s alleged use of misinformation to prevent employees from ...