Valuing a company (or the market in general) typically involves looking at its price and judging that price relative to its current and projected future fundamentals. But some have argued…
Tag: Excess Returns Podcast
Excess Returns, Ep. 35: Finding Diamonds in the Rough Among Growth Stocks
Buying expensive stocks has historically been a terrible investing strategy. On average, expensive stocks significantly underperform the market as a whole over time. But despite the poor performance of the…
Excess Returns, Ep. 34: The Danger of Learning From Your Mistakes
The process of learning from your mistakes is an important part of improving yourself over time both as an investor and as a person. But it requires that you learn…
Excess Returns, Ep. 33: Active Value Investing in a Changing World with Vitaliy Katsenelson
In this episode we are joined by Vitaliy Katsenelson. Vitaliy is the author of the popular Contrarian Edge blog and the CEO of investment firm IMA. As quantitative investors, we…
Excess Returns, Ep. 32: Is the Price/Book Ratio Dead?
The Price/Book ratio has probably been the most important valuation ratio of the past century. If you look at the academic research that supports value investing, you won’t find any…