As value investors, we’re conditioned to immediately capitalize operating leases as debt. While that’s the simplest way of handling them in order to derive a credible valuation, it leaves a lot to be desired. For one...
Read MoreLending credence to those who believe history constantly rhymes, financial bubbles pop-up again and again. Sometimes the asset class that has been gripped by speculative mania is a familiar one, and sometimes it is not. From...
Read MoreNassim Taleb calls it “One of the most important management books of all time.” The Halo Effect tells us why much of what we believe about business is quite likely false, thanks to a number of delusions. Author Phil...
Read MoreNassim Taleb calls it “One of the most important management books of all time.” The Halo Effect tells us why much of what we believe about business is quite likely false, thanks to a number of delusions. Author Phil...
Read MoreStocks trading at discounts to their net current assets often look cheap. But investors fear what the the company is going to do with its capital. Companies often trade at such large discounts when they have made poor...
Read MoreMIND CTI (MNDO) is a volatile stock, even though it’s a profitable company where most of its market cap is made up of cash! The company currently trades for just $32 million despite a net cash position of $17 million and...
Read MoreConventional wisdom in the stock market offers that a stock will go up when a dividend is announced, and will go down if a dividend is cancelled. Bucking that trend last week was Telefonica (TEF), which is up some 10% since it...
Read MoreI recently read Crisis Economics by economist Nouriel Roubini. For financial experts and non-financial experts alike, I recommend this book to anyone looking to understand the various causes that contributed to the recent...
Read MoreFrequently reading about layoffs occurring at [insert large company name here]? Though these types of events happen more often during recessions, they also occur rather frequently during all parts of the business cycle. This has...
Read MoreNassim Taleb calls it “One of the most important management books of all time.” The Halo Effect tells us why much of what we believe about business is quite likely false, thanks to a number of delusions. Author Phil...
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