Stock Analysis
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.
The Apple Brand
Apple’s research and development expense was up 27% last quarter. Annualized, it is running at $5.7 billion.
Warren Buffett, Coca-Cola and the Not-So-American Dream
I am going to Omaha for the Berkshire Hathaway annual meeting. But this is the first time that I find myself respecting Mr. Buffett a little bit less than the year before.
Behind the Ugly Red Door: Finding Value in an Overpriced Market
The difference in valuation between the cheapest stocks and the rest of the market is the smallest in more than 20 years, the market is overpriced.
Will Russia Go to War Over Ukraine? Don’t Bet on It
It is hard for me to see a full-blown war between Russia and Ukraine. There are so few cultural differences between these two countries.
How I Bought the Internet — and You Can Too
A few months ago my firm bought the Internet. Let me explain: When people think about the Internet, they imagine an enormous network of millions of servers.
Additional Thoughts on The Fed Model and Profit Margins
The Fed Model is extremely important, because I vividly remember how low interest rates and the Fed Model were used as propaganda tool.
The Not-So-Big Picture on Financial Models
Rarely do I disagree with fellow investor and financial blogger Barry Ritholtz, but the time has finally come. Last week Barry wrote a column for Bloomberg View.
Practitioners, Prognosticators and Portfolio Pain
I spend a lot of time looking for new stocks, either by screen or by reading or talking to other value investors. We are all having a hard time finding many stocks of interest.
A Few Simple Rules For Money Managers
As a parent the hardest thing to do is not to be a hypocrite. You tell your kids to do one thing – the right thing – but you don’t stick to your own advice.
Qualcomm’s Competitive Advantages Are Too Numerous to Ignore
When we stumbled on Qualcomm, we could not believe what we saw. The San Diego–based chipmaker should double its earnings over the next four years.
The Blessing of a Declining Stock Price
After I told my father what I am about to tell you, he called me a charlatan.
What I Learned from the J.C. Penney Fiasco
In this article I would like to put salt in the open wound and talk about what I learned from the J.C. Penney fiasco.
Interview with The Disciplined Investor Podcast
I was a guest on Andrew Horowitz's the Disciplined Investor podcast.
Stansberry Radio With Dr. David Eifrig
I was interviewed by Dr. David Eifrig on Stansberry Radio (to listen, click here):
How to Capitalize on the Bakken Oil Boom
Oil production in the Bakken Shale region of North Dakota has soared from 400,000 barrels (bbl) per day in 2011 to 1 million bbl per day in 2013.
Time to Buy Former Retailing Darling Tesco
I’ve been solving the puzzle of Tesco since Warren Buffett bought a stake in the grocer a few years back. The pieces I gathered piqued my interest.
Germany, Europe and Mother Russia – Excerpts from VALUEx Vail
I always look forward to Hendrik Leber's presentations. Hendrik runs a value investment fund named Acatis Investment out of Frankfurt, but he invests globally.
The Process – from VALUEx Vail
Investing is a peculiar industry because randomness is so deeply embedded in everything we do. I am always fascinated by the investment processes of other successful firms.
Why Investors Hate Apple — and Are Dead Wrong
In this article I don’t discuss Apple’s valuation, balance sheet, or financials. I covered these topics in great detail in these articles a few months ago.
Nokia Deal Could Mark the Last Chapter for Microsoft
Microsoft needs a new CEO who is an outsider and not entangled in internal politics. It is in desperate need of a Lou Gerstner-like leader
