Hottest links for Wednesday August 7th, 2013 (see Tuesday’s edition of hottest links here). Top stories for today include; How to decide to sell (value investors edition); France’s fourth largest industry declares a disaster; Howard Marks and Seth Klarman with some always insightful comments; CFA III results are now out; Mark Zuckerberg from villain to CEO of the year in two weeks? Some say yes; NYC Mayor race heats up between hedge funds; Jeff Bezos of Amazon.com, Inc. (NASDAQ:AMZN) sold a ton of stock before buying The Washington Post Company (NYSE:WPO); Hedge funds need to care about Google Inc (NASDAQ:GOOG); Do you understand the companies that you own?; George Soros and Carl Icahn dish out money, but this time it has nothing to do with Herbalife Ltd. (NYSE:HLF) or Bill Ackman. That and more below.
Hottest Links: Stories
AS Creation Half year report 2013 – SELL
A.S. Creation Tapeten AG (FRA:ACWN) (ETR:ACWN) has done well; here why this value investor made the toughest decision; when and why to sell a winning position. [Value Opportunity]
YY: Do You Know What You Own?
A really great write up on Alibaba.com Limited (HKG:1688) (OTCMKTS:ALBIY) and Tencent Holdings Ltd (HKG:0700), (OTCMKTS:TCEHY). However, the main focus of this topic is how well do you know the companies which you hold in your portfolios? [Xuhua Zhou, Seeking Alpha]
Why Hedge Funds Should Care About Google Search Results
Hedge funds need to start caring more about their web presence. Here why and how a simple google search could decide the fate of millions of dollars [David A. Goldman, Hedge Fund Intelligence]
Hedge Funders Split On NYC Mayoral Race
The race for the NYC mayor has heated up amid the Anthony Weiner scandal, but there is another race going on, involving Carl Icahn, George Soros and other hedge fund giants. No there is no Herbalife Ltd. (NYSE:HLF) drama in this one. [Lawrence Delevingne Hedge Fund Intelligence]
Quick and Dirty Washington Post Valuation
A quick look at valuation on the The Washington Post Company (NYSE:WPO) shows that there might not be much more upside for investors. See how to do a quick valuation of a company in a few minutes. [Reddit]
Market perception of China macro risk set to rise
A very detailed analysis of the current Chinese economy points to some scary signs. Check out the analysis on the latest numbers from China and what they point to. [Cam Hui, Humble Student Of The Markets]
United States Is The Next Japan?
The deflation thesis has proved correct, and there are few signs of inflation? Amid all the data one can ask, is the US headed towards Japanese style deflation? [Edward Harrison, Credit Writedowns]
Howard Marks on the Confidence and Wealth Effect
New memo from Howard Marks, founder of Oaktree Capital Group LLC (NYSE:OAK) on the Wealth and Confidence effect. Also Howard Marks has some great quotes from Seth Klarman. [Value Walk]
Room For Hope?
How bad is it in the Euro-Zone? Well we had some coverage from Bridgewater Associates, check out what the fourth largest industry in France is saying? Remember a year or two ago when France was considered the second strongest economy in Europe? [Testosterone Pit]
Hedge-Fund Copycat ETFs Roar
While hedge funds are having an awful year, the copy cats are killing it. You wont believe the returns from these two hedge fund ETFs Global X Top Global X Funds (NYSEARCA:GURU), and the AlphaClone Alternative Alpha ETF (MUTF:ALFA) [Paul Britt, Index Universe]
Let’s Have A Chat About: CFA Level III Results
For 49% of the June test takers, this is the greatest day of your lives. CFA level III test results are out and DealBreaker has the results with always the funny tint of humor. [Bess Levin, Deal Braeker]
This Isn’t Really Austerity in the USA
The austerity versus stimulus debate continues, but is it false? A Look at the argument that there is no austerity in the US from our favorite economist. [Cullen Roche, Prag Cap] Also on maco, Richard Koo has a new report, check out the summary here.
Unknown Unknowns in Investing
When I was asked, “What do you believe, but know you can’t prove in investing?” the Donald Rumsfeld quote about knowns, known unknowns, and unknown unknowns came to mind. [W. Bradford McMillan, CFA Institute]
Congratulations Mark Zuckerberg
Howard Lindzon, Until two weeks ago, Facebook was the most hated stock in the tech universe, but now everyone loves Mark Zuckerberg. Facebook Inc (NASDAQ:FB)’s Mark Zuckerberg is CEO of the year says the creator of Stocktwits. [Howard Lindzon]
Industry-Based Style Investing
Retail investors not only make poor timing decisions and other related investment decisions; the sectors they pick also tend to underperform as well according to new research. [SSRN] H/T AbnormalReturns
On Jeff Bezos and the late-Friday Form 4
Over the weekend, before news broke that Amazon.com, Inc. (NASDAQ:AMZN) CEO Jeff Bezos had bought The Washington Post Company (NYSE:WPO) for $250 million, there was speculation over a form 4 filed by CEO Jeff Bezos. [Footnoted]
