Hottest links for Friday, March 28th, the late edition. Get our free daily newsletter and never miss a single linkfest. Also, now if you sign up you will get our new e-book on value investing.
Top stories for today are included below. To put a capstone on a long work week, we’ve got some interesting stories for your Friday afternoon, including a sobering history of a doomed ETF, Scheid Vineyards and their strange bedfellows, and “Lone Wolf” Bernard Baruch weighing in with a list of 10 timeless investing rules.
Hottest Links: Stories
Value Investing
Bernard Baruch’s 10 Rules of Investing
Bernard Baruch (August 19, 1870 – June 20, 1965) was the son of a South Carolina physician whose family moved to New York City when he was eleven year old. By his mid-twenties, he is able to buy an $18,000 seat on the exchange with his winnings and commissions from being a broker. [Joshua M Brown, The Reformed Broker]
Buffett the Market Timer? Part 5: The Berkshire Years 2005-2013
So 2005 turns out to be an interesting year. After years of not doing much in the stock market, Buffett initiates positions in Anheuser Busch Inbev SA (ADR) (NYSE:BUD), Wal-Mart Stores, Inc. (NYSE:WMT), and “substantially” increases his position in Wells Fargo & Co (NYSE:WFC). [KK, Brooklyn Investor]
Funds
Gold Miners: The Cheapest ETF
Market Vectors Gold Miners ETF (NYSEARCA:GDX), with a price-to-fair value ratio of 0.83. Earlier in the week, when Johnson explained the measure in detail, it was Market Vectors Steel (ETF) (NYSEARCA:SLX). SPDR S&P 500 ETF Trust (NYSEARCA:SPY) comes out near 1.0, meaning fairly valued. [Brendan Conway, Focus on Funds]
Cloudy With a 50 Percent Chance of a Bank Run
For Buchanan, the market is like the weather. It is a “nonequilibrium” system, meaning violent storms and fluctuations will naturally emerge from seemingly tranquil conditions. An economist who believes that the economy is inherently stable is like a meteorologist who believes storms won’t occur. [Sam McNerney, 250 Words]
A Brief History Of A Doomed ETF
Claymore securities launched Claymore U.S. Capital Markets Bond ETF (UBD) back on February 12, 2008. It had an interesting, if not successful, life as an exchange traded fund (“ETF”). [Ron Rowland, Invest with an Edge]
Scheid Vineyards in the Spotlight, and You’ll Never Guess Who They’ve Teamed up With
High quality pink sheet wine company Scheid Vineyards Inc (OTCMKTS:SVIN) has fallen off investors’ radar since the company went “dark” in 2006, allowing it to remain publicly traded, while avoiding the prohibitive costs of Sarbanes Oxley, and no longer having to file with the SEC. [Jonathan Heller, Stocks Below NCAV]
Hottest Links: Not the Onion
Cheese factory in Siberia closed after employees bathe in milk
Russia’s Federal Consumer Rights Protection and Human Health Control Service, Rospotrebnadzor, suspended the Cheese factory whose members bathed in milk, the press service on Friday said.The case files sent to the court for a decision of an administrative suspension of the company, Omsk Department of the Federal Consumer Rights Protection and Human Health Control Service noted. [ITAR TASS]
