Bear Market History & the Lessons of Losing Money
This piece is designed to add color to our Bear Traders post, which showed the five largest market declines since the 1960s. That piece explained the brutal path to getting back to break-even across the history of bear markets using the S&P 500.
Democratizing Finance: Agency Problems and Investment
This work was inspired by UCLA Professor Michael Brennan’s efficient autopsy of the dot.com bubble. Published in 2004, the piece broke down the mania that led to the historic bubble in 2000. A misplaced belief in Efficient Markets, agency problems on Wall Street, and weak accounting rules figured large in his work.
Growth at a Reasonable Price: Is GARP Investing a Forgotten Asset Class?
The Case for GARP Investing: Summary & Key Points...
Growth vs Income Investing: Why Choose?
Are Some of The Best Blue Chip Stocks in the S&P 500 Financials Sector? In light of our recent pieces, “Debt to EBITDA Ratios: The Spiral Higher Continues” and...
The Next US Financial Crisis: The Problem with Expensive Stocks and High Leverage
Our recent piece Debt to EBITDA Ratios: The Spiral Higher Continues documented the explosive growth in leverage using aggressive accounting to fund deals. This piece intends to...
Who is the Next Amazon? This Post Will Change Your Life
Financial Freedom from A Simple Formula By KCR standards, this post is somewhat wicked. For long-time readers, we hope the following creates a grin. For anyone new, we hope ...
Oil Stocks to Buy: A Preference for Profits Over Promises
We believe investors should be open-minded about old-fashioned energy for two reasons. First, we have a growing conviction in oil companies’ capital discipline. Second, while commodity prices may rise due ...
Finding the Safest Investments with the Highest Returns
A Faustian Bargain worth Revisiting In this paper we update our work The Siren Song of Growth: Why Investors Willfully Set Sail for the Rocks and make the following points: ...
What Does Volume Mean in Stocks?
The Low Value in High Volume Last week’s Quick Take highlighted that retail investors were being sucked into speculative trading. This piece substantiates the following: High turnover stocks have only ...
Inflation Assets Presentation Video, Slides & Transcript
Introduction Slide: Inflation Assets, Investing & Managing Equity Duration Note: Video Presentation is at the top of the transcript By way of preview I’m going to try and compress ...
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 ...
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 ...
