I think that accounting quality is the single most neglected area of investing. There are few that spend time trying to analyze whether the financial statements are fairly presented. For value investors like me, that...
Read MoreAfter we went and got the pizzas for the birthday celebration of my youngest son, my second-youngest daughter (younger still) said, “Elizabeth [oldest daughter] says that gas prices will reach $6/gallon this...
Read MoreIt has been a long day, but I want to add one note to Thursday night’s piece: I would not sell the market immediately. The summary of my recent research is that market moves from undervalued to overvalued, to more...
Read MoreFor every buyer, there is a seller. For every debit, there is a credit. Net exports globally equal zero. Identities. They help bring rationality when some people think that the economy only goes one way, as if China could...
Read MoreMmmm… I live near DC, but what does it take to get an invite to the Fed’s press conference? One e-mail, four phone calls, four messages… and not even the courtesy of a reply? What, does the Fed...
Read MoreI liked this book because I am doing this myself. I am trying to create my own gig. Let me put it this way: you can try to serve one boss who carefully directs you, or you can try to serve multiple bosses (clients)...
Read MoreWhen I was a little kid, I loved origami. My teachers gave me books on origami, and my parents reinforced it. I did it all before I was 9 years old. For a geeky little kid, it wasa lot of fun. But not all...
Read MoreI can’t place it, but when I was 5 years old or so, sometime in 1966, my Mom showed me The Milwaukee Journal, and pointed me to an entry for Litton Industries preferred stock. She told me that I owned some shares of...
Read MoreThis piece is a brief and final update to the piece The Holy Grail Projects, which I have since renamed “The Impossible Dream” projects. I have solved both of them, and with far less effort than I would have...
Read MoreMy friend Tom Brakke, liked this book and said I would too. He was right, and soon afterward, I heard the author speak at the Baltimore CFA Society. Hearing James Valentine speak is an advantage here. He...
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