Keys to Success from Bogle, Buffett and Others

In a recent Forbes article, Validea CEO John Reese shared seven keys to investing success from such legends as Warren Buffett, Joel Greenblatt, Jack Bogle and Peter Lynch. Here are some highlights: Time is your friend—take advantage of compounding returns. Impulse is your enemy—emotional investing decisions are a bad idea. Basic arithmetic works—be mindful of […]

Bulls and Bears Both Gaining Ground

The continued climb in global stocks this year is being accompanied by rallies in safe-haven assets such as gold and bonds, according to a recent Bloomberg article. “There are plenty of reasons being cautious is paying off,” the article says, such as “politics in Washington is fractured, tension on the Korean peninsula is rising and […]

Vintage Value Investing Named One of the Top 50 Best Investing Blogs on the Planet!

Hey all! The guys over at The Acquirer’s Multiple just released their 2017 list of the 50 best investing blogs on the planet. I was honored and incredibly grateful to learn that Vintage Value Investing made the list (which btw includes some ridiculously awesome blogs like Bill Gates‘ blog, Howard Marks‘ memos, Mohnish Pabrai‘s blog, Jason […]

Investor Complacency Doesn’t Mean Clear Skies in Market

The market has seen low volatility and years without a major correction, writes Ben Carlson of Ritholtz Wealth Management in a recent Bloomberg article, but this doesn’t necessarily mean investors are complacent. Carlson cites data compiled by Yale professor Robert Shiller that show investor concern regarding market valuations and a “potential market crash” are both […]

Investor Returns Hurt by Attempts to Time the Market

The average investor has lagged behind the average fund for the past 10 years, writes Russel Kinnel, Director of Mutual Fund Research at Morningstar. The reason, he says, is that “in aggregate, investors’ timing is not very good.” Kinnel cites data showing that, for the ten years ending 2016, the average investor saw mutual fund […]

The Doubling Rule

Picture Credit: Vincent Brown || Einstein never said this, either… ======================= If you are famous and dead, many people will attribute clever sayings to you that you never said.  As Yogi Berra said: I really didn’t say everything I said. Except that Yogi did say that.  Now, if Einstein didn’t do enough for us, he […]

5 Incredible Charts Proving Apple’s Dominance

There’s been a ton of talk about Amazon in the media lately following the company’s announcement that it will buy Whole Foods for $13.7 billion. It indeed does look like Amazon is headed towards world dominance (Warren Buffett might even agree). But for now Apple still remains on top. It’s still the country’s most profitable […]

Validea Hot List Newsletter: Spotlight on Guru John Neff

In our most recent Validea Hot List newsletter, we highlight the investment philosophy of John Neff, who managed the Vanguard Windsor Fund from 1964 to 1995 (during which time the fund averaged a 13.7 percent return versus the S&P 500’s 10.6 percent). Neff’s strategy focused on the price-earnings ratio as a gauge of investor expectations […]

Guru Feedback from Barron’s Mid-Year Roundtable

Most participants in this year’s Barron’s Roundtable think “the markets will soon get more interesting, and not in a pleasant way,” according to the publication’s recent summary, which includes excerpts from comments by market heavy-hitters such as Jeffrey Gundlach and Mario Gabelli. “After all,” the article says, “U.S. stocks are expensive, the economy is dullsville, […]

Sensible Stock Picks Based on Fundamentals

While some forms of stock picking can be risky, choosing stocks based on proven strategies and underlying fundamentals can “increase an investor’s odds of enjoying outperformance over time,” writes Validea CEO John Reese in a recent Forbes article. Reese explains that stock picking resides on a continuum comprised of varying approaches and combinations of approaches. […]

Focus on the “Known Knowns” When Investing

Among the many parallels we can draw between life’s macro issues and the world of finance, perhaps one of the most compelling is the tendency for people to think they know more than they do. While this can be costly in any context, it can break the bank when mixed with investing. In the field […]

VV Reads, Vol. 49: Amazon, Grocery Stores, and the Death of Value Investing?

Check out our new e-book: The Ultimate Guide to Value Investing! Chart of the Week Percentage Share of U.S. Grocery Market   Books (Old School) Invest Like a Guru: How to Generate Higher Returns At Reduced Risk With Value Investing by Charlie Tian Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class […]

Morgan Housel Explains the Lure of Pessimism

“Every past market crash looks like an opportunity, but every future market crash looks like a risk,” writes Morgan Housel in a recent blog for Collaborative Fund. Housel offers insights as to why investors tend to attach more to negative thoughts than to positive ones, why pessimism is more “seductive” than optimism. Pessimism, he writes, […]

An Example of an Industry Analysis; Hedge Fund Quiz

https://youtu.be/gfvAIor53Ig A 22-minute video covering the uranium industry.  An excellent example of how to approach a deeply cyclical resource industry. March Uranium Report The stock catalyst report https://youtu.be/fw–RzrEWkQ An Industry Panel Go where they ain’t (but patience is needed in huge dollops): HEDGE FUND ANALYST QUIZ Your boss calls you into his office and asks if […]

John Neff and Five Picks for the Low P/E Investor

For legendary investor John Neff, who managed Vanguard’s Windsor Fund from 1964 to 1995, a stock’s price-earnings ratio represented a measure of what level of growth investors are expecting a company to achieve in the future. This according to a recent Nasdaq article by Validea CEO John Reese. The expectation factor, writes Reese, “was paramount […]

Changes in Harvard’s Endowment Fund

Harvard University’s endowment fund is unique in its holding of a $4 billion natural resources portfolio that owns assets across five continents, according to a recent article in The Wall Street Journal. Since it has written down the portfolio’s value by more than 10% last year, the university—once the “envy of the endowment world” according […]

Greatest Hits From Michael Mauboussin & Meir Statman

I’m really excited for our Evidence-Based Investing Conference later this month in Orange County, CA. I’ll get to see some old friends. The resort looks amazing. And somehow I’ve never been to California in my entire life so this visit will be a first for me. Plus the agenda for the conference is stacked. There are tons […]

Warning to Index Fund Investors

The more investors index, the higher the costs for those that don’t, according to a recent MarketWatch article. The benefit of indexing–lower costs and higher long-term returns—only exists, the article argues, if there is an “active, functioning market underlying whatever index a fund is trying to capture the performance of.” The problem arises, it asserts, in […]