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November 10, 2023

Land of the Rising Profits; Japan Equities Are Compelling ... But; Gator Capital Q3 Letter; We Are All Quants; Six Points with Harry Hartford; Retail Investors and ESG News; “Ray, This Is a Religion”; “Investing, the Last Liberal Art”

October 17, 2023

Beyond the Landing; Further Thoughts on Sea Change; A Tale of Three Regions; Turbulence on the Path to Transformation; Morningstar ESG Commitment Level; “Energy Transition: Active Duty?”; Bill Ackman at CNBC’s Delivering Alpha Summit; “They Studied Dishonesty. Was Their Work a Lie?”

October 10, 2023

Value vs. Growth: Then and Now; The Heightened Risk of Passive; Oaktree Top Takeaways; China – No Turning Back; We Believe Archer Aviation is a Lame Duck; Hedge Fund Maverick; Why Silicon Valley Falls for Frauds; Why Everyone’s Worried About Their Attention Span

September 14, 2023

Pershing Square Investment Manager’s Report; From Data to Decisions; Fewer Losers, or More Winners?; Birth, Death, and Wealth Creation; “What I’ve Learned: Jeremy Siegel”; “Crocs is Not a Fad”; “Tennis, Anyone?”; “How Company Managers Use Investor Conferences”

September 7, 2023

The NVIDIA/AI Singularity; Why Is There More Volatility in My Portfolio?; Valuation Hinges More on Returns Than Earnings; Scared Money Don't Make Money; When Earnings Surprises Play Out Differently; “Too Big a Jerk to Run Goldman Sachs?”; “How a Man in Prison Stole Millions from Billionaires”; “The Future of Hedge Funds?”

August 22, 2023

Charts for the Beach; Third Point Q2 Investor Letter; Water Scarcity: A Growing Scourge; Tweedy Browne Q2 Commentary; Bank Branch Density and Bank Runs; Work-from-Home and Securities Misconduct; “Seth Klarman on What Makes a Value Investor”; “The New Commodity Superpowers”

August 10, 2023

ROIC and the Investment Process; The Pivot to “Efficient Growth”; India: A View From The Ground; Coca-Cola Bottlers; Perspectives on Forward-Looking Guidance; Trading Hours and Retail Investment Performance; Interview with Restaurant Brands’ Patrick Doyle; “What Can the CIA Teach Investors?”

August 3, 2023

The High Price of Low Volatility; Jacoby Transfers; Horizon Kinetics Q2 Commentary; Unintended Consequences; Mid-Year Outlook 2023; What Have You Done for Me Lately?; Seth Klarman Interview; “How KKR Got More by Giving Ownership”

July 18, 2023

Taking the Temperature; Royalties as an Asset Class; Magnificent Seven?; Slow Burn Minsky Moments; Corporate Discount Rates; David Einhorn Q&A;How Divestiture Can Create Corporate Value” Interview with Arvind Sanger

July 11, 2023

Palm Valley Capital Q2 Commentary; It’s Speculation, Not a Preference for Quality; International Value Investing Makes a Comeback; Real Estate Reckoning; What do we learn from Analysts’ Bloomberg Usage?; Tom Gayner Fireside Chat; Long/Short Panel Discussion; “The Brewing Backlash Over Rewards Programs”

June 22, 2023

Takeaways From Oaktree; Who is this Guy Hal?; Outlook on Digital Payments; Running on Empty; Bill Ackman Interview; “What About Physical Finance?”

June 13, 2023

The Quality Spectrum; Triple Verifying DoubleVerify; Why Net-Zero by 2050 is Unlikely; Jump in the Deep End ; Narcissistic Leaders – Promise or Peril?; “Holes in our Knowledge of Corporate Governance”; “Value Investing and a Legacy of Stewardship”; “The Ugly Truth Behind ‘We Buy Ugly Houses’”

June 6, 2023

Value Does Just Fine in Recessions; Elevated Profit Margins; The Seesaw Becomes Extreme; Beauty Care & Cosmetics; Meme Corporate Governance; A Walk Down Memory Lane; “The Octogenarian”; Stanley Druckenmiller USC Speech

May 15, 2023

Hindenburg v. Icahn; Make Less Make More; Navigating Political Upheaval; Tweedy, Browne Q1 Letter; Why Category Killers Can't Survive; Investing in Your Alumni; “The Streaming Wars”; Graham & Doddsville Spring Issue

May 8, 2023

Lessons from SVB; Bank Failures: Unsettling But Not Unusual; Hindenburg Research on Icahn Enterprises; Horizon Kinetics Q1 Commentary; Mysterious Ways: Growth vs. Value Debate; The Effects of CEO Activism; “Andreessen Horowitz saw the future — but ...”; “Letters to Shareholders”

April 14, 2023

Bill Nygren Quarterly Commentary; Amazon 2022 Shareholder Letter; Top Takeaways from Oaktree; How Customers are Keeping Up; Warren Buffett on CNBC; “Consequences of an A.I. Revolution”; “Inside Rupert Murdoch’s Succession Drama”; “Alibaba and the Forced Restructuring”

April 7, 2023

Pershing Square Holdings Shareholder Letter; Jamie Dimon Annual Shareholder Letter; Re-Emerging Equities; Hindenburg Research on Block; Negativity Bias in Mutual Fund Awards; How an Analyst’s Face Affects Earnings Estimates; “America’s Top Asset Management Firms”; “50 Years of Small-Cap Investing”

March 22, 2023

A Deep Value Investment in Financials, Echoes of ’08? Don’t Bank On It; Volatility is the New Normal; Off-Spreadsheet Adventures in Six Flags; What’s Next for Small Caps?; Jabba the Mutt; “SPAC Fad Is Ending in Bankruptcies and Fire Sales”; “The Rise, Fall and Renaissance of AMD”

March 15, 2023

The Energy Crisis Is Only Just Beginning; Insurance Broker Delivers the Perfect Policy; A Shake-Up in Real Assets; A Non-Essential Stock; What Is Value?; Investing Across Market Cycles; “The Great Misallocation”; Would Chat GPT Get a Wharton MBA?

March 9, 2023

Don't Speculate on Speculation; Third Point Q4.22 Letter; How “Transitory” is Inflation?; Antero Peak Investor Update; Isn’t It Always the End of the World as We Know It?; Is the Bubble About to Burst?; “Taking on Blackstone, Facebook, and the Tiger Cubs”; “Disrupting the Disruptors”

February 7, 2023

2022: The Joy of Missing Out; Greenlight Capital Year-End Letter; Everything Old is New Again; Gator Financial Year-End Letter; The Buck Stops Here; Horizon Kinetics Q4 Commentary; The Largest Con in Corporate History; Tom Gayner Interview

January 25, 2023

Back to the Meat Grinder!; Restore the Magic; Disney Response to Trian Partners; 3 Investment Themes for 2023; “Extremely Hardcore”; “RIP meme stocks. You were terrible investments.”

January 12, 2023

A Hidden Gem; Price-to-Fantasy Ratio; Oakmark Global Fund Q4 Commentary; Micro and Macro Issues; Thinking About How to Think; “Investors Spent Years ‘Angst-ing’ Over Value”; “From Peak Dollar to Better TV”; “Jim Chanos on Market Misbehavior”

January 5, 2023

Ten Surprises of 2023;  Q4 Takeaways from Oaktree;  Horizon Kinetics New Year Letter;  ‘Twas the Bill Before Christmas;  Interim Risk in Mergers;  “A China Optimist’s Lament”;  “Best Countries 2022”;  “When Larry Fink Interviewed SBF”