Is It Different This Time?

In his latest article for Canada’s Globe and Mail, Validea CEO John Reese says that the current U.S. recovery — while much-maligned in the media — isn’t all that different from some other recoveries in U.S. history. “Recoveries are never smooth and easy,” Reese writes, adding that bull markets aren’t smooth and easy either. After researching a number of past recoveries and bull markets, he says “the current U.S. turnaround — with all its shortcomings… Read More

The Wisdom of Lynch & Templeton

Here’s an oldie but a very, very goodie — a Louis Rukeyser interview with Peter Lynch and the late John Templeton. The exact date of the video (posted on YouTube by ValueInvestingPro) isn’t given, but the references to the troubles in Kuwait and Lynch’s retirement make it clear the interview took place in the latter part of 1990 or the beginning of 1991. Lynch and Templeton cover a variety of topics — from the efficient… Read More

Tilson & Heins: How You Can Be a Stock “Lion” Like Templeton

Barry Ritholtz isn’t the only successful manager saying investors should be making “watch lists”. In their latest “Discovering Value” column for Kiplinger’s, Whitney Tilson and John Heins say that maintaining a watch list of stocks you’re interested in is a key to good investing. “The stock market rarely offers truly exceptional buying opportunities, so it pays to be prepared when one comes along,” Tilson and Heins write. “We suggest that you maintain a watch list… Read More

Tilson on “Points of Maximum Pessimism”, and Buffett Bashers

In a column for The Financial Times, fund manager Whitney Tilson says that, while he’s no optimist about the U.S. economy’s short-term prospects, he does “believe the level of panic that has overtaken the market has created buying opportunities for investors who can see light at the end of the very dark tunnel.” Tilson indicates that we’re at or near what the great John Templeton called “points of maximum pessimism”; that is, as Tilson puts… Read More