Pouring money into digital, sucking it out of newspapers
Last week in New York:
“I think we’ve got to pour some money into digital… There’s so much going on on the Internet. We’ve got to find new ways and new business models to get revenues. Or else the world is going to be owned by Google.”
Rupert Murdoch in the Wall Street Journal, explaining what he [...]
Remembering the wisdom of Anthony Bolton
Anthony Bolton writes in the Spectator today (Remember the wisdom of Keynes and Mark Twain). Here’s some background on Mr Bolton, one of Britain’s finest fund managers. In the Spectator article he ruminates on the reasons for his success:
“Careful balance-sheet analysis can go a long way in limiting the downside risk of an investment: the [...]
Inside Zimbabwe
Just a quickie. An old post about the Zimbabwean stock exchange, and a new perspective from inside Zimbabwe.
The sixty year bull market
Here it is. As promised. The latest update of the most beautiful chart in my burgeoning chart library, provided courtesy of Scottish Widows (UK Financial History 1945-2006).
It shows the value of £100 indexed from 1945.
Invested in equities with dividends reinvested it would have been worth £125,243 by 2006.
Investing in equities without reinvesting dividends would have [...]
Long Tail preview
I confess I haven’t read it, but it’s only a matter of time. The Long Tail is out in paperback in the UK and Random House has put lots of it on the net.
The premise of the long tail is niche products become more economic to supply as the costs of production and distribution fall [...]
The Intelligent Investor
Benjamin Graham’s classic book, The Intelligent Investor, is available online. You can’t read it (safely) in the bath, and it doesn’t include Jason Zweig’s excellent notes (included in the latest edition). But it’s free!
Arithmetic for sustained bull market adds up
More evidence for a sustained bull market, In The Times today Anatole Keletsky says that although dollar denominated stockmarkets are higher than they were at the peak of the dot.com bubble in 2000:
There are four simple arithmetical differences between conditions today and those that prevailed in the dot-com bubble.
The first is simply that seven years [...]
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