I wouldn’t pay attention to the short covering rally that the market experienced on Monday. And this rally may have some short term legs. But make no mistake about it, the government bailout of Fannie Mae and Freddie Mac has several negative implications for the economy, real estate and the stock market. Here are the […]
READ MOREFinancial Lies from Merrill
After the close on July 17th, Merrill Lynch announced earnings. Actually it wasn’t earnings, because they lost money. They lost $4.65 billion on writedowns. On the 18th, the stock rebounded from earlier losses and closed slightly higher for the day on hopes and beliefs that the worst was over and that financial stocks had put […]
READ MORESir John Templeton
Sir John Templeton, one of the great investors of all time, has died at age 95. He was a great influence on me as a young kid trying to learn about investing. Not only was he a great investor, he was a great human being. Below is a link to an old Wall Street Week […]
READ MOREThis is what I do for a living!
Academic studies finally back up what I have found in 10 years of investing: No trade stocks outperform
READ MOREInterview with Seth Klarman
Seth Klarman is one of the great investors of all time. Seth Klarman Interview
READ MOREThinking of Investing in China?
Guess what your return would have been had you invested in China in March of 1998, ten years ago. Consider before you answer that the last ten years has been unstoppable GDP growth, a miracle in terms of economic change. China has emerged on the scene as an economic powerhouse and it is on the […]
READ MOREMohnish Pabrai story
I really respect Mohnish Pabrai, especially after I had the chance to meet him in person. Here is a good interview with him from Smartmoney: Mohnish Pabrai interview
READ MOREFantastic Value Investing Congress
I was invited by Whitney Tilson and John Schwartz to speak at their Value Investing Congress in Pasadena on May 7th. For me this conference was an absolute thrill. From meeting other money managers that I have admired from afar, to listening to excellent well researched presentations by some of the best and most successful […]
READ MOREInsider selling on the way down
Sell! Sell! That is the signal being given by the executives of AMR, the parent of American Airlines. Despite the stock being down 71% from its 52 week high, executives including three VPs, the Chairman of the Board and the CFO sold more than $3.3 million worth of stock. I generally don’t pay too much […]
READ MORESwitching to all Macs from PCs
I’m about to make a monumental change in my computing life. Or at least it feels that way. Since I was 7 or 8 years old, all I’ve known are PCs. My first computer from my Dad was an IBM PC with two floppy drives and no hard drive. I learned how to play video […]
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