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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 ...

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 ...

Bloomberg published an article citing academic research noting firms with high expected profit growth tend to underperform Longtime readers of ours flagged us as we wrote extensively about this ...

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 ...

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 ...

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 Duration Crisis: The light blue line shows the correlation between value stocks and the US Long Bond The navy blue line shows the correlation between growth stocks and ...

Top Credit Card Stocks: A Cheap Way to Capitalize on High Expectations, Part I Today’s Chart for The Curious shows the PE ratio of the S&P 500 minus the ...

Drawdowns: “If you buy things you don’t need, you will soon sell things you need.” -Buffett Our first newsletter of 2021 suggested it might be a great time to ...