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 ...
Some of the Best Hedges Against Inflation?
We believe that Staples stocks’ ability to raise prices is a feature that may be highly valuable in the current environment. We don’t make macro forecasts but have written ...
Initial Public Offerings
“Investors even remotely tempted to buy new issues must ask themselves how they could possibly fare well when a savvy issuer and greedy underwriter are on the opposite side of every underwriting. … The deck is almost always stacked ...
Margin of Safety a Book by Seth Klarman
A Legendary Book with Timeless & Timely Lessons Introduction to an Investing Classic: “The truth is, I am pained by the disastrous investment results experienced by great numbers of ...
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 peaked Below that, is the number of months it took ...
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 returned over 40% (the 96th percentile) In the year ending ...
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 companies that lose money are valued in the hundreds of ...
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 bubble The chart, from our paper Small Cap vs. Large ...
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 about how stock compensation creates the illusion of cost-free cash ...
