Wednesday, July 18, 2007

The Middle Ground - Competitive Markets

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I don't like the terms efficiency and inefficiency. They don't seem to quite fit. We aren't talking about an internal combustion...
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The Argument For the Efficiency Market Theory

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The bottomline of Efficient Market Theory (EMT) is that you should invest in low cost index funds. I could never fault someone who takes tha...

The Argument Against the Efficient Market Theory

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Mr. Market is a moody guy. Look at any security's price over any 52-week period. It goes up and down, up and down, sometimes with huge p...
Sunday, July 15, 2007

Black Swan Investing

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Nicholas Taleb, author of Fouled by Randomness and The Black Swan, was featured in a WSJ article . He helped launch a hedge fund, Universa, ...

Sweep Account

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Brokers provide interest on your sitting cash in what's called a sweep account. The problem is that the interest is fairly low, from 0.5...

Whitney Tilson on the Traits of Successful Money Managers

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This article from Motley Fool is a classic. I like to read it over and over again. Best quote: "Although humility is a trait I much ad...
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Thursday, July 12, 2007

Spin Off ETF

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There is an ETF that only invests in spin-offs. It is run by Claymore under the symbol CSD . According to Joel Greenblatt in his book, You ...

Crocodiles and Competitive Advantage

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My son is four and loves watching Animal Planet, especially when it shows reptiles. I was watching the other day and realized that crocodile...

Mohnish Pabrai Interviewed by Investor Guide

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Great interview. The interview asks better questions than my friends and I did when we interviewed him on 27 June. Best quote: "I rea...

Warren Buffett Featured in Smart Money

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In this month's Smart Money , Buffett explains he currently has too much money and too little ideas. His advice for investors? If you ar...
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Wednesday, July 11, 2007

Behavioral Finance and Cognitive Biases

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Humans are emotional and flawed. This includes you, me and everyone. Hope, fear, greed and despair often dominate investment behavior. With ...
Friday, July 6, 2007

Essential Reading

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Here's my list of essential reading for the value investor: 1) Intelligent Investor by Ben Graham. 2) Berkshire Hathaway's annual re...
Thursday, July 5, 2007

Mohnish Pabrai Wins Lunch with Warren Buffett

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With a winning bid of $650,100 , Mohnish Pabrai of Pabrai Investment Funds and Guy Spier of Aquamarine won the yearly charity auction with W...
Wednesday, July 4, 2007

Welcome

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Welcome to my blog, founded July 4, 2007. I've decided to start this blog on Value Investing based on a recent informal interview with M...