Articles
Shadow Over Asia
Five years ago, almost to the day, I was interviewed by David Galland, who worked at Casey Research at the time. This interview covered three topics: the Chinese overcapacity bubble, the Japanese debt bubble, and my sideways markets thesis. Five years is a long time, but with the exception of updating some statistics I really would not change anything.
Apple, Amazon, Tesla and the Changing Dynamics of the Car Industry
Writing is a very weird experience for me. Sometimes it feels almost like an act of divine intervention. Not because of the divinity of it, but because of the intervention part.
Thoughts on iPhone 6s
I spent the weekend with an iPhone 6s. I didn’t find many differences between the 6 and 6s.
Innovation is Alive and Well at Apple
Can Apple still come up with breakthrough innovations? In September Apple introduced an iPhone with 3-D touch, Apple TV that has been turned into a gaming device and a larger iPad with a stylus that will take the tech giant into new niches.
Manifesto – The Values of Value Investing
I rarely share letters we write to IMA’s clients, but I decided to share this “Value Investor’s Manifesto”.
The Apple Watch Is More Than a Cool Gadget
“You know how difficult it is to explain to a nonparent the joy of having kids? The Apple Watch is the same thing. It’s hard to explain how great it is to someone who has never worn one.”
The Conn’s Paradox, or the Synergy of Awful
I expected to see inverse synergy at Conn’s when we started analyzing it; after all, the company consists of two pretty awful businesses.
Me, My Boy and Warren Buffett
In my latest attempt to gently nudge Jonah’s direction in life, I am taking him to the Berkshire Hathaway annual meeting.
How Emotional Intelligence Can Make You a Better Investor
Investors enjoy the unique luxury of choosing problems that let them maximize the use of not just their IQ but also their EQ — emotional intelligence.
Unraveling the Mystery of Oil and the Swiss Franc
The collapse of oil prices and jump in the Swiss franc have forced me to puzzle over these weighty questions.
The Return of the Violin
Over the weekend I watched the documentary The Return of the Violin, and it had a tremendous impact on me.
Buying Warren Buffett, Richard Branson and Steve Jobs at a Discount
What would you get if you crossed Warren Buffett, Richard Branson and Steve Jobs? Answer: Masayoshi Son, the Korean-Japanese, University of California, Berkeley–educated founder of one of Japan’s most successful companies, SoftBank Corp.
Bad News at Tesco Could Be Good News for Investors
Although Tesco’s business is doing worse today than it was even six months ago, things are not as bad as you’d infer from the stock price or from reading the financial press.
Putin’s World: Why Russia’s Showdown with the West Will Worsen
I was perplexed by how the Russian people could possibly support and not be outraged by Russia’s invasion of Ukraine.
Investment Lessons Learned from the Poker Table
“I don’t know.” These three words don’t inspire a lot of confidence in the messenger and probably will not get me invited onto CNBC, but that is exactly what I think about the topic I am about to discuss.
Rach 3 and I
The first time I heard Rachmaninoff's Concerto No. 3 for Piano and Orchestra was several years ago, but I remember it as if it were yesterday.
Making Money by Agreeing to Disagree
It is very comfortable and enjoyable to own a company everyone loves. You can brag about it to your neighbor, bring it up at social gatherings.
My Robin Williams Story
I was showing my eight-year-old daughter, Hannah, who Robin Williams was. She knew him as the voice of Ramon in Happy Feet but had never seen his movies.
To Infinity and Beyond? Don’t Be Surprised If the U.S. Stock Market Cracks
In 1986 Jeremy Grantham started to warn his firm’s clients about the eventual bursting of the Japanese stock bubble.
Our Trip to Santa Fe
Last year we created a new tradition – Boys’ Culture Trip. Grandfather, father, and grandson Jonah drive to Santa Fe.
The True Value of Macro Forecasting
How much time a value investor should spend on macro forecasting? Usually macro forecasting is frowned upon in the value investing community.
