We are providing these charts with the hope they create insightful dialogue.

Record Returns & Record Prices:The chart shows the rolling annual returns of the S&P 500 since 1963We put the Price to Sales ratio above the years that returned over 40% ...

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 ...

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 ...

Are Stocks With the Highest Growth Healthy?The chart shows the market cap of firms where stock compensation represents over a third of SALESWe have written three pieces about how stock ...

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 bonds ...

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 The ...

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 Investor ...

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 from ...

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 ...