…profitable. The trouble, however, was that the computer couldn’t say exactly how it had developed these strategies. So, even though, the computer had learned something potentially useful, it couldn’t teach…
…and a pure exporter. Let’s start with the purely domestic company that doesn’t face a border tax. It’s quite simply, if revenues are a $100 and expenses are $60, the…
…we should exit small cap stocks? As you might expect, I don’t think so. First, our data set isn’t long enough and we don’t have access to longer-term data. We…
…years, the fund has still outperformed by 1.53, 0.92 and 0.69 percent per year respectively. Last year, when the bond market faltered and the fund underperformed, the fund lost $40…
…prices. That implied insurance doesn’t work perfectly. Take the 2008 global financial crisis: the stock market lost -55 percent, but there is no question that the Fed’s policies kept stocks…
…means owning securities that aren’t publicly traded. Private markets can include equity (stocks), credit (bonds), and real estate. Each major group has subcategories. Private equity can be venture capital, buyout…
…they’re the hottest topic in our industry—what are you doing about privates? Have you heard of this private or that private? Second, as I’ve said many times, I’ve invested in…
…value, quality and leverage. (Here’s the link). Interesting, this paper has gotten a lot of press and has been featured in Barron’s, the Financial Times and Forbes. Fortunately, we don’t…
Over the last few months, I’ve been bothered by what’s happening to Jack Ma, the co-founder of the Chinese version of Amazon, Alibaba, and Ant Financial, the massive digital payments…
…stocks are trading, market makers and other liquidity providers can’t properly trade and hedge their ETFs, causing extreme price activity in the ETFs. For example, the Guggenheim S&P 500 Equal…
