…to add value,” but adds that “all markets are not equal.” How many active funds have outperformed their indices and for how long? The article notes that while both active…
Search Results for: value
Hulbert: Are “Irrationally Exuberant” Stock Investors Back?
…of dividend payers. The amount by which the average fund’s price is below its per-share net asset value (known as the “closed-end-fund discount”) widened to one of the largest in…
Excess Returns, Ep. 33: Active Value Investing in a Changing World with Vitaliy Katsenelson
…often find we learn the most from investors who use very different approaches than we do. As a discretionary value investor and long-term student of value investing, Vitaliy provides us…
The Value Investing Strategy in Recessions and Recoveries
…bursting of a bubble, characterized by a wide value-growth valuation dispersion.” Value reflects weak performance when a bear market is triggered by a shock to fundamentals, which has been the…
Has Warren Buffett Lost his Touch? Berkshire Underperformance Triggers Questions
…portfolio.” According to Christopher Rossbach, CIO of asset manager J Stern & Co., “If Berkshire is to have the prospects of generating the value it has in the past, it…
Morningstar: Value Investors Facing a “Great Opportunity”
Dan Kemp, the CIO of Morningstar’s EMEA division, sees opportunity for value investors and disagrees with the consensus that the coronavirus crisis favors growth strategies, according to a recent article…
Buffett’s Disappearing Alpha – Why It Doesn’t Really Matter
…Berkshire’s size, opportunity set, competition, outperformance of growth over value type stocks, cash drag and more. But in classic Buffett style, he’s been honest with investors, saying publicly that the…
Excess Returns, Ep. 32: Is the Price/Book Ratio Dead?
…in value portfolios. In this episode, we discuss: The weaknesses of using Price/Book; The use of a value composite as an alternative value factor; Why we’d need a lot more…
For Alpha, ESG Isn’t Enough
…with high ESG ratings and high employee satisfaction outperform those with low ratings by nearly 6 percent. Yoon explained, “We know that employee satisfaction is related to firm value and…
How A German Business May Have Snookered Berkshire Hathaway & Buffett
…Castparts £643 million in damages—the purchase price minus the estimated value of Wilhelm Schulz of £157 million—but adds that “it’s doubtful whether Precision Castparts will be able to collect the…