If you have been following my blog postings, you are probably aware that I have an obsession with equity risk premiums (ERP), and have done an annual survey paper on the topic every year since 2008 (with the 2013 update here). I also post a monthly update for the ERP for the S&P 500 at the start of the month on my website. As a consequence, my attention was drawn to a post by Fernando Duarte and...
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Lauren Templeton is the founder and president of Lauren Templeton Capital Management, LLC, a value investing boutique located in Chattanooga, Tennessee. Lauren Templeton Capital Management, LLC is a Registered Investment Advisor focused on global value investing. Our value investing approach is motivated by our belief that compound interest provides the greatest opportunity for long-term investors, and that long-term opportunities to compound are best revealed when stock prices depart substantially from the intrinsic value of...
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Edward Thorp My Encounters With Madoff’s Scheme and Other Swindles Uncovering Madoff Fraud by Thorp Excerpt: “On the afternoon of Thursday, December 11, 2008, I got the news I had been expecting for more than seventeen years. Calling from New York, my son Jeff said Bernie Madoff has confessed to defrauding investors of $50 billion in the greatest Ponzi scheme in history. “It’s what you predicted in … 1991!” he said. “It began on a balmy Monday...
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By: greenbackd In a great article The Wiki Man: If you want to diet, I’m afraid you really do need one weird rule Rory Sutherland argues that we require a “black-and-white, binary approach” to things we find psychologically difficult to follow. Sutherland says, “And as the world’s religions have known for thousands of years, abstinence is far easier than the continuous exercise of self-restraint. Or, as the neuroscientist V.S. Ramachandran suggests, “humans may not have free will but they do have free...
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Edward Thorp speech A Mathematical Odyssey From Las Vegas to Wall Street UCI Talk May 3, 2012 Edward Thorp speech and presentation below: I would like to thank the UCI mathematics department for inviting me and to Professor Sarah Eichhorn for making all the arrangements. It’s a pleasure to see so many students and faculty from UCI and from Sage Hill School, including three of my grandchildren. Today I’ll tell you how I...
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![Former Sony insiders place bets on Loeb [VIDEO]](http://www.valuewalk.com/wp-content/uploads/2013/05/Sony-Corporation-Logo1.jpg){kind=logo}
Activist hedge fund manager Daniel Loeb has thrown down the gauntlet to Sony — but he’ll be taking on Japan’s conservative corporate culture. Former Sony executives give Reuters their take on his chances in this video. . Short video on Sony and Loeb Below 'Get ValueWalk's Daily Edition By Email and Never Miss Our Top Stories'
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On May 7, 2013, Warren Buffett sat down for an interview with Caroline Ghosn, the Co-Founder of Levo League. Office Hours with Warren Buffett transcript below: Office Hours with Warren Buffett Levo League is a new organization dedicated to helping young women in the first phase of their careers. Levo refers to the Latin root of the word “elevate.” Levo League’s mission is to eliminate the barriers to success and the income and responsibility disparity...
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And as investors expect the low inflation environment to continue, they have responded by reducing commodity and emerging market exposure and pumping more money into bonds. A net 29% of global asset allocators are underweight commodities, the BofA Merrill study finds, up from 11% in March and at the lowest level since December 2008. Asset allocators are avoiding energy stocks as well. https://www.coursera.org/course/accounting About the Course Accounting is the language of business. Companies...
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Many students of investing know about the great investment record of Warren Buffett but few even know of the man Buffett called one the greatest capitalists and capital allocators of all-time, Dr. Henry Singleton, who built Teledyne Technologies Incorporated (NYSE:TDY) from scratch during 1960 to 1986. The best investors are avid history students of the market, companies, and great investors. The more you learn from others, the less expensive your own tuition will be. Not...
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Our investment process is both qualitatively and quantitatively intensive. Throughout the course of a year we look at hundreds of companies. Most of them receive only a cursory look – we don’t like the business, the valuation is too stretched, or we simply have no insight into the business. We usually glance at them and move on. But if we really like the business and/or its valuation, we build a model. Often, just from...
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We attended the Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) annual meeting held on May 4, 2013 in Omaha along with about 40,000 other folks from around the globe who gathered once again for the Woodstock for Capitalists. Warren Buffett, Chairman of Berkshire Hathaway, and Charlie Munger, Vice-Chairman, answered questions from shareholders, analysts and the media. Here are my notes from the meeting via Ingrid Hendershot. See our previous extensive notes here. Berkshire Hathaway First Quarter Results Warren...
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