Author: Saj Karsan

As the chief investment officer at Fremont Investment Advisors, Nancy Tengler employed the value approach she describes in her book, New Era Value Investing.Tengler starts the book by discussing how value investors don’t...

Charlie Munger says the most important rule in management is “Get the incentives right”. Munger argues that the power of incentives is constantly underestimated. In Freakonomics, Steven Levitt shows us how pervasive...

A rather large percentage of companies experienced declines in revenue in both 2009 and 2008, as the general level of aggregate spending declined in most markets. For most of these companies, these declines can be considered...

“Patent expirations” are the two words most commonly used to dissuade investors from investing in pharmaceutical stocks. With respect to Pfizer specifically, 20% of its revenues are expected to be significantly...

Some regulatory changes make minimal impact on company valuations – at least in the short-term. Other regulatory changes, such as tax rate changes, affect almost all companies equally. But some regulatory changes affect...

It is difficult to judge the market’s appetite for risk simply on the basis of the equity markets’ price levels, as determining what constitutes “too high” or “too low” a price is challenging....

Companies trading at discounts to their net current assets are often valued by estimating their liquidation values. For many years, this may have made sense, as only companies in extremely terrible shape would ever trade at such...

Charlie Munger says the most important rule in management is “Get the incentives right”. Munger argues that the power of incentives is constantly underestimated. In Freakonomics, Steven Levitt shows us how pervasive...

Charlie Munger says the most important rule in management is “Get the incentives right”. Munger argues that the power of incentives is constantly underestimated. In Freakonomics, Steven Levitt shows us how pervasive...