Berkshire Hathaway’s operating profit peaked in the third quarter, pushing the conglomerate’s 2019 net income to “a staggering $52 billion, making Berkshire the most profitable public company in the world.”…
Jim Simons and the Best Hedge Fund Ever
In a recent Bloomberg article, columnist Barry Ritholtz reviews the new book by Wall Street Journal reporter Greg Zuckerman, “The Man Who Solved the Market: How Jim Simons Launched the…
Small Caps Stall Amid Weaker Economic Data
Small cap stocks, which surged after President Trump’s election and through last summer, have stalled a economic data has weakened and investors have begun bracing for a possible recession. This…
One Manager's Radical Idea: Zero Management Fees
“The problem for active management is not high fees,” says a recent article in Institutional Investor, “but rather that they charge investors during inevitable periods of underperformance.” This according to…
The Reckoning of the Hedge Fund Kings
Research from the firm HFR Inc. shows that clients have withdrawn money from stock-picking hedge funds for three years running, the longest stretch of outflows since it began tracking data…
A “Protective” Alternative to the 60/40 Portfolio
By Justin Carbonneau (@JJCARBONNEAU) As this Forbes article points out, the 60/40 portfolio is “one of the most dominant investment approaches of our time”. This asset allocation is incredibly simple…
Deep Dive into Value Performance
For the first in a three-part article series, Morningstar used its database to “dig into the current spell of underperformance for value funds” by analyzing the historical landscape, putting recent…
Small-Cap Value Stocks May Be Worth the Wait
According to a recent article in Barron’s, “academics have found that small-value stocks beat more popular growth ones if you can wait out the fallow periods.” “One of the most…
Why Value Has Been Lagging Growth
Amidst continued speculation that the value strategy is dead, asset manager Dimensional Fund Advisors argued that its growth performance that has been abnormally high relative to historical levels. This according…
Investing Lessons from the Best Poker Players
Researchers on game theory say that poker strategies can translate into lessons for investors, according to a recent article in The Wall Street Journal. Carnegie Mellon professor of philosophy Kevin…