Meb Faber Research – Stock Market and Investing Blog

httpv://www.youtube.com/watch?v=K3P2o5gryfs&feature=player_embedded

Montier must read as always: Seven Immutable Laws of Investing

I started the website Hedge Fund Letters awhile back because I wanted to archive and read a bunch of manager letters...There is no central respository for letters from Soros, Robertson, Cohen, and Klarman.  I love reading these letters and find it a shame that they could eventually be lost over time. Originally I ran the site anonymously since I didn't...

Einhorn's interview with the Financial Crisis Inquiry Commission (Santangels) ---- I would think they could come up with a better name than Harvard Cubs but the point remains.  “The (Harvard) class of ‘69 spent a lot of time arguing over tens of millions in compensation and ended up losing $10 billion,’’ said Steven Drobny (Bloomberg) ---- Video on Dalio (CNBC and here today) and the...

I spend a lot of time thinking about tactical asset allocation.  One of the biggest difficulties I have is how to compare asset classes on a value basis across different asset classes.  ie, what is a better value, US equities, italian bonds, or oil?  It is easy to compare them based on momentum, vol adjusted momentum, trend, and economic...

All that matters to an investor are returns after all fees, inflation, and taxes (or what I like to call "returns you can eat").  My friend Peter Mladina has a great paper out in the JWM (that they charge $45 for) called "Portfolio Implications of Triple Net Returns".  Pair this with Ferri's The Power of Passive Investing: More Wealth...

Well this is certainly an interesting perspective (NYT): Madoff paused as he related this. His voice settled. He said to me, “I am a good person.” ---- A comment I often hear people make about 13F tracking is that you will always trail the manager in buying the stock.  This is factually true, but it assumes that is always a bad thing....

New addition: Empirical Finance Empirical Finance Blog Their paper Do Fund Managers Identify and Share Profitable Ideas?

I'll be in SF through tomorrow morning if anyone is around for a quick meetup. Books on the way and pre-ordered from Mauldin, Greenblatt, and Kauffman: Endgame: The End of the Debt SuperCycle and How It Changes Everything - Mauldin The Big Secret for the Small Investor: A New Route to Long-Term Investment Success - Greenblatt The Futures: The Rise of the Speculator...

I forgot to mention in the last post that I will be in San Francisco next week.  Drop me a line if  you want to meetup. And if you find yourself in the snow in Tahoe this weekend (after my speech of course!) come to Squaw and we can talk markets at the Chammy.