Tag Archives: CFA

When Benjamin Graham Learned a Difficult Lesson

This comes courtesy of Frank Martin, CFA’s 2014 Annual Report to his clients. I had the pleasure of Skyping with Frank a few years ago. “At the quarter-century mark of 1925, the great bull market was under way, and Graham, … Continue reading

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CFA South Florida’s Member-Promotion Video Release

I was happy to participate in this video production (make sure your YouTube settings are on HD for the best experience). I have come to know the participants in the video as outstanding individuals, who volunteered their valuable time to promote … Continue reading

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Is Your Adviser a Fiduciary?

Answer: Probably not, if your adviser is a broker (AKA a “Financial Consultant” or “Financial Adviser” employed by a brokerage firm). “Brokers, like those at the Toffels’ bank, are technically known as registered representatives. They are required only to recommend “suitable” investments … Continue reading

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Truly Honored by Jason Zweig’s Selection of this Blog

I am truly honored to have been selected by Jason Zweig of the Wall Street Journal as one of a handful of investors that Jason thinks are “Smart People for Investors to Follow.” This Margin of Safety blog can be … Continue reading

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This is the Worst Recovery in the Post WWII Era

I think my former Wall Street colleagues know this without the need to read a chart. I added Sufi and Mian’s blog to the economics blogroll on the right after seeing the CFA Institute’s webcast of Sufi’s presentation at a conference … Continue reading

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The Market and the Economy Mid-Year 2014: A Top-Down View

I have excerpted part of PAR’s semi-annual letter that PAR sent to clients on July 7, 2014, and I have pasted it below. No one knows where the market is going to end up in the near term, but over the … Continue reading

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What is the Effect of a Label? Smart Beta Makes Bill Sharpe “Sick”

Bill Sharpe gave us the Sharpe Ratio to help determine whether an active investment manager is “beating” the market after adjusting for the risk that the manager assumed. Sharpe is from the Efficient Market school of academia, which believes that markets are … Continue reading

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Howard Marks: The Top-Ten Qualities that Make Warren Buffett Different from Most Investors

The following are bullet points reproduced (and numbered by order of appearance) from Howard Marks’s Forward to the third edition of The Warren Buffett Way, by Robert G. Hagstrom. Marks writes a couple of paragraphs to elaborate on each bullet point, … Continue reading

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A Book Review

Heh, I was looking at the NYSSA website and stumbled on a book review written in 2011 of Joel Greenblatt’s The Big Secret for the Small Investor and forgot that I wrote the review. Enjoy: http://post.nyssa.org/nyssa-news/2011/05/book-review-the-big-secret-for-the-small-investor.html Continue reading

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John Rogers Discusses Investors’ Rights

The CEO of the CFA Institute discusses investors’ rights with the Wall Street Journal… Continue reading

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