By Justin J. Carbonneau (@jjcarbonneau) — About a week ago CNBC had a piece that broke down how much the largest, best performing stocks have contributed to the overall market’s…
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How Long is Long Term in Investing?
By Justin J. Carbonneau (@jjcarbonneau) — As investors, we are taught to try and think long term. The story goes something like this — invest in stocks, stay disciplined and…
Industries Concentrate and Investors Profit
By Justin J. Carbonneau (@jjcarbonneau) — At Berkshire’s Hathaway’s annual meeting, Warren Buffett announced he had purchased approximately 75 million additional shares of Apple. Apple is already Berkshire’s largest holding,…
Want Consistent Market Outperformance? You May Want to Think Again
By Justin J. Carbonneau (@jjcarbonneau) — We run over 40 quantitative models at Validea. They run the gamut of investing styles. Any time we can find a model from a…
Ben Graham's Biggest Contribution May Not Be Value Investing
By Justin J. Carbonneau (@jjcarbonneau) — If you Google “Ben Graham”, you will see that his name is synonymous with the value investing philosophy, and rightfully so. His book, Security…
Finding Deep Value Stocks with the Acquirer's Multiple
By Justin J. Carbonneau (@jjcarbonneau) — In 2005, Joel Greenblatt, a successful hedge fund manager, published an incredibly simple book on disciplined value investing. The book, The Little Book that…
Hidden Secrets in Warren's Buffett's Annual Letter to Shareholders
By Justin J. Carbonneau (@jjcarbonneau) — Ok, just to be clear there are no real hidden secrets in Warren Buffett’s Annual Berkshire Hathaway shareholder letter (download the full letter here)….
Aiming for Private Equity-Like Returns Using a Small Cap Value Quant Strategy
By Justin J. Carbonneau (@jjcarbonneau) — “I do not like debt and do not like to invest in companies that have too much debt, particularly long-term debt. With long-term debt,…
U.S. Government Just Gave Investors Part of their "Super Stock" for Free (Sort Of)
By Justin J. Carbonneau (@jjcarbonneau) — Sometimes someone says something that hits you like a ton of bricks. Well, in early January Warren Buffett was on CNBC and one of…
How an Investment Strategy Can Be at the Top and Bottom at the Same Time
By Justin J. Carbonneau (@jjcarbonneau) — Imagine you’re presented with two investment models. Both hold a concentrated basket of 10 stocks, both are rebalanced monthly and both are built on…