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Value Investing Resources
- Berkshire Hathaway
- Buffett Partnership Letters 1957 – 1970
- Columbia University's Heilbrunn Center for Graham & Dodd Investing
- Graham and Doddsville
- Graham-Newman Corporation Letters 1946 – 1958
- Howard Marks's Memos
- Jason Zweig's Website
- Michael Mauboussin's "On Strategy"
- PBS's Your Mind and Your Money
- Robert Shiller's Website at Yale
- Santangel's Review
- Seth Klarman's Investor Letters from 1995 through 4/30/2000
- The Ben Graham Centre for Value Investing
- The Best of Value Investing (Youtube Video Series)
- The Brandes Institute
- Tweedy Browne: What has worked in Investing?
- Value Investigator
- Value investing with Walter Schloss
- Whitney Tilson's Value Investing Website
Value Investing Blogs
Other Investing / Economics / Finance Blogs
- Aswath Damodaran's Blog
- Balance of Economics Blog
- Becker – Posner Blog
- Cafe Hayek
- Econlog: Library of Economics and Liberty
- Enterprising Investor: The CFA Institute's Blog
- Greg Mankiw's Blog
- House of Debt: Amir Sufi and Atif Mian's Blog
- John Cochrane's Blog
- Matt Ridley's Rational Optimist Blog
- Ray Kurzweil's Website
- Richard Stott's Blog
- Street of Walls
- Symmetry Capital Blog
- The Adam Smith Institute
- Vox
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Monthly Archives: October 2011
Baby Toursim: US Problem or Opportunity?
Brian Williams’ new show, Rock Center, broadcast this evening with a piece on wealthy foreign pregnant women–many Chinese–who are coming to the US to give birth so that their children can receive citizenship and a Social Security card. Many are outraged … Continue reading
Counterfactual Friday: The CAPE
Current Market Perspective: Moderately bearish based on three pieces of information: Our bottom-up security selection process is revealing few bargains; Total public and private debt in developed countries is unsustainably high relative to GDP and will require long, painful de-leveraging … Continue reading
Credit Default Swaps and “Credit Events”
In my old job where we acted as sellers of protection in credit default swaps (more often than as buyers, anyway), we used to fight like hell to ensure that any restructuring of bank loans was not considered a “credit event” … Continue reading
Posted in Uncategorized
Tagged CDS, Credit Default Swaps, Credit Events, Euro Crisis, Eurozone, Greek Default
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“First, Get a Trillion Euros…”
The market is soaring today on the Greek bailout plan, or should we say the European bailout plan because, lest we forget, there are several more countries that still need a bailout. The plan is amusing to me, though I should … Continue reading
So, You Think You Can Be a Great Short Seller
I am about to cover the final leg of my NFLX short, which I had in place for over one year. Are you one of the many who saw this coming? Did you expect a 75% drop in price since … Continue reading
Power Laws at Work in Financial Markets
I am working on a good post for the first “Counterfactual Friday.” Unfortunaltely it will probably not be posted until Monday. In the meantime enjoy the following: I have attached a link to a terrific article on power law distributions and … Continue reading
Just What is Seth Klarman up to? It May not be What Optimists Believe
Apparently, Seth Klarman is in the market for capital. This is always news because Klarman has a reputation for shunning capital from new investors and frequently returning excess capital to existing investors. However, the author of the attached story has … Continue reading
Posted in Uncategorized
Tagged Behavioral Finance, Benjamin Graham, CAPE, CFA Institute, China, Conventional Professional Investors, Financial Media, Free Markets, Housing Bust, Invisible Hand, Jason Zweig, Long-Short, Margin of Safety, Quantitative Easing, Risk, Seth Klarman, Short Sales, Tobin's Q Ratio, Value Ideas, Value Investing
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Rumors Drive the Market Upward Again
As I have written before, any news rumor is good news for the market; the aftershock of disappointment is likely to be much more pronounced. From a Dow Jones Newsire report published online at 5:17pm today: On Tuesday, the market … Continue reading
Why All the Cheer?
I am an optimist by nature, and I hope a rational one in the Matt Ridley vein. But, I do not understand the optimism in the market in the last seven trading days (plus forty-five minutes). Markets are up over … Continue reading
What is Behind the Market’s 12% Jump in One Week?
At 3:15 pm on October 4, the S&P 500 was at 1081.89. By 4:oo pm it finished at 1123.95, up 3.89% in forty-five minutes. To put that in perspective, the market was in the 1081 range in October 1998. So, … Continue reading