Some investors chase momentum. Others chase narratives. Seth Klarman chases the gap between what something costs and what it is actually worth – and he insists that gap be wide enough to absorb every mistake he might make along the way.
When a company gets acquired, shareholders usually get cash. Simple. But sometimes they get a strange basket of …
When corporation splits itself in two, Wall Street panics. Institutions dump shares they do not understand. Index funds …
Most investing strategies sound complicated. Hundreds of variables, proprietary screens, neural networks, teams of PhDs …
Every company tells a story with its financial statements. Problem is, some companies are better at fiction than others. …
When you line two companies up side by side, truth becomes hard to ignore. One looks expensive. The other looks cheap. …
There is a trick that experienced engineers use when evaluating two competing technologies. You do not look at each one …
One of the most useful exercises in investing is putting two similar companies next to each other and asking a simple …
Here is something that always hits me hard. There was a moment when a young boy walked into a bank to cash a check for …
Look, before Warren Buffett became Warren Buffett, he learned everything from one guy. Benjamin Graham. The Father of …