In a 1929, pre-crash speech, esteemed economist Irving Fisher became notorious for declaring that U.S. stock prices had reached “what looks like a permanently high plateau,” writes Jason Zweig of…
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Einhorn Says Value Investing Will See Comeback
Value investing is in the doldrums, but billionaire fund manager David Einhorn says that eventually things will turn around. This according to a recent CNBC interview. Einhorn argues that the last…
Tech Sector Heavy Hitters: The Only Market Constant is Change
By John Reese (@guruinvestor) — There are precious few certainties when it comes to the stock market, but there’s one that should be written in permanent ink and glued to…
For Hedge Funds, Being Like Buffett Isn't Easy
While Warren Buffett’s track record is appealing to large private equity firms, his buy-and-hold strategy (averaging 10-20 years rather than the hedge fund industry norm of 3-5 years) can be…
Bloomberg's Kaissar Weighs-In on Morningstar Fund Ratings
In a recent article, Bloomberg columnist Nir Kaissar challenges the rationale of a Wall Street Journal article suggesting that Morningstar mutual fund ratings lead investors to “assume erroneously” how those…
Shiller: Another Bear Market Could Happen
The kind of panic that ensure thirty years ago, on October 19th, 1987, could happen again. This according to Yale professor Robert Shiller in his recent New York Times article. While…
Pricey Stock Market May Bode Well for Long Term
The “price stock market and skinny bond yields of 2017” could pay off in the future, according to a recent Bloomberg article. The article says that asset prices tend to be…
Wording in Press Affects Investor Expectations
A recent issue of the Journal of Economic Behavior & Organization offers insights as to how wording in the financial press affects investor expectations. Researchers conducted a study asking participants…
Investors Should Expect Rougher Times Ahead
In a recent Barron’s article in which he describes the current U.S. economic expansion as an “Indian summer”, JPMorgan chief strategist David Kelly says that investors should guard against being…
Klarman Warns that Investors are Ignoring Risks
In a private letter to clients, Baupost Group CEO Seth Klarman suggests that, instead of asking themselves why they should sell in today’s market, they should ask whether they can…