IntelInvestor Tweets
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
-
Recent Posts
Archives
- May 2016
- December 2015
- August 2015
- June 2015
- April 2015
- March 2015
- February 2015
- January 2015
- October 2014
- September 2014
- August 2014
- July 2014
- May 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- August 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
MOS Cloud
Behavioral Finance Benjamin Graham CAPE CFA CFA Institute Charlie Munger Chartered Financial Analyst China Closet Indexers Competition and Strategy Conventional Professional Investors David Einhorn Debt Crisis Entrepreneurial Spirit Euro Crisis European Debt Crisis Eurozone Fama and French Financial Media Free Markets Friederich Hayek Housing Bust Howard Marks Invisible Hand James Montier Jason Zweig Joel Greenblatt Long-Short Margin of Safety Matt Ridley Michael Lewis Michael Mauboussin NFLX Quantitative Easing Risk Robert Shiller Seth Klarman Short Sales The Rational Optimist Tobin's Q Ratio Value Ideas Value Investing Video Warren Buffett Whitney Tilson
Tag Archives: Closet Indexers
B. Malkiel Cannot Believe His Own Eyes
“Over the past 100 years the returns from smaller companies have exceeded those of larger companies. It is also true that stocks with low valuations (i.e. lower prices relative to earnings and book values) have generated better returns than those … Continue reading
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
Posted in Uncategorized
Tagged Behavioral Finance, Benjamin Graham, Buffett PE Ratio, CAPE, CFA, Closet Indexers, Debt Crisis, dshort.com, Employment to Population Ratio, GMO, Jeremy Grantham, John Hussman, Margin of Safety, QE, Robert Shiller, Rock Breaks Scissors, Seth Klarman, The Federal Reserve, Think Like a Freak, Tobin's Q Ratio, Value Investing, Warren Buffett, William Poundstone
Leave a comment
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
Posted in Uncategorized
Tagged and Vishny, Behavioral Finance, Benjamin Graham, Bill Sharpe, CFA, CFA Institute, Chartered Financial Analyst, Closet Indexers, Competition and Strategy, Conventional Professional Investors, Efficient Market Hypothesis, F&F, Fama and French, Lakonishok, LSV, Margin of Safety, Risk, Seth Klarman, Shleifer, Smart Beta, Value Investing, Warren Buffett, William F Sharpe
Leave a comment
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
Posted in Uncategorized
Tagged Behavioral Finance, Benjamin Graham, CAPE, CFA, Charlie Munger, Chartered Financial Analyst, Closet Indexers, Competition and Strategy, Conventional Professional Investors, Howard Marks, Long-Short, Margin of Safety, Risk, Robert Shiller, Seth Klarman, Short Sales, Value Ideas, Value Investing, Warren Buffett
Leave a comment
Seth Klarman is Sitting on a Mountain of Cash
“…around 50% of our assets are in cash, and that’s a very high absolute number, now around $14 billion and rising…”–Seth Klarman I recently came across this quote from Seth Klarman of the Baupost Group, which he said during a … Continue reading
Patience, but the Willingness to Act Decisively when Opportunities Arise…
..these are the keys to investment success, not throwing capital at 500 companies merely because those companies are in somebody’s index… Continue reading
Typical Story of an Unknown Value Investor with Little AUM
The NYSSA linked to a story in Smart Money that I had to share. It is a story of a fund manager who seeks to buy companies that are trading at a discount to their intrinsic value and that have excellent long-term prospects; in other … Continue reading
Posted in Uncategorized
Tagged Allan Mecham, Arlington Value Management, Baupost Group, Behavioral Finance, Closet Indexers, Conventional Professional Investors, David Einhorn, Entrepreneurial Spirit, Greenlight Capital, Housing Bust, Mohnish Pabrai, Seth Klarman, T2, Value Investing, Warren Buffett, Whitney Tilson
1 Comment
Another Great One by James Montier
Read the whole thing: http://www.ft.com/intl/cms/s/0/77f0077c-c35a-11e0-9109-00144feabdc0.html#axzz1YtylE6lL “…there is a simple, although not easy…alternative (to benchmark-focused investing)…use a value approach across a wide range of assets. Buy when an asset is cheap, and sell when an asset gets expensive – buy low and … Continue reading
The Investing World’s Reaction to Buffett’s Hiring of Richard “Ted” Weschler
I am surprised at the reaction among investors and the media over Buffett’s selection of Ted Weschler as one of his portfolio management successors, but I suppose I should be used to it by now. The general reaction has been: … Continue reading
Posted in Uncategorized
Tagged Behavioral Finance, Benjamin Graham, Charlie Munger, Closet Indexers, Competition and Strategy, Conventional Professional Investors, Financial Media, Jason Zweig, Long-Short, Margin of Safety, Peter Cundill, Short Sales, Ted Weschler, Value Ideas, Value Investing, Warren Buffett
Leave a comment
CAPE Update (Or, was Last Week’s 5.6% Market Pop Justified?)
As of July 1, 2011, the Cyclically Adjusted PE (CAPE) ratio for the S&P 500 is 23.13, which essentially means the average share of common stock in the S&P 500 companies trades for 23.13 times its annual earnings averaged over … Continue reading