An open love letter to Ken Fisher
Astute readers of this blog may have noticed I don’t talk about Ken Fisher’s views as much as I did in the early days. There’s a very good reason for that. For over a year now he’s been writing for us on the Interactive Investor mothership so you have plenty of opportunity to read them. […]
Four reasons banks aren’t cheap enough
Weighing in on bank valuations again, here are four fundamental reasons why I ‘m not buying banks: Price, profits, cashflow, and deposits.
The long-term price earnings ratio is my preferred measure of value. I take the average of up to nine years of earnings and divide it into the current share price. Using the average of […]
Screwed up markets are best
Warren Buffett answers a question about regulation post credit crunch, Fortune, 14 April 2008.
It’s very difficult he says, and we wouldn’t want a ‘perfect’ market. The fact that some participants act foolishly creates opportunity for the rest:
I think we’ve got fabulous capital markets in this country, and they get screwed up often enough to make […]
Why didn’t we see the credit crunch coming?
Because we can’t see the future, of course. So why did we willingly ignore the possibility events like these might happen? Beats me.
Yesterday John Humphreys spent a day in the City of London (BBC audio) trying to get a fix on the credit crunch for the Today Programme. One of the City types he quizzed […]
The great crash of 2009 revisited
Fear and loathing are stalking the market but in the long-run it’s valuations that drive it.
Last year I wrote a blog that, tongue in cheek, predicted the Great Crash of 2009. At the time, I was researching bearish ideas to test the arguments of Ken Fisher.
Last month James Montier, author of Behavioural Investing and an […]
Here comes another bubble
via: The Big Picture
Very funny, but is it true?
iBall’s take:
This time it’s different; next gen dot.coms are actually making profits. They’re also exclusively American, it seems.
Say it ‘aint so.
The wisdom of crowds of gurus
Over at CXO Advisory Blog Steve LeCompte is determinedly trying to make sense of market pundits. He finds that on average they are right 49% of the time, which means they are wrong 51% of the time.
As a group, then, they’re useless (my interpretation, not his ). But by weighting their medium-term outlooks so […]
Money moves markets
An economist/blogger thinks last week’s dip might be a buying opportunity.
Here’s an irony for you. I found about Money Moves Markets from a press release. Why the irony? Money Moves Markets is a blog, and blogging is supposed to be the subversive new medium that cuts out all the middlemen, notably public relations people and […]
Stock exchanges of the world
If you spend your days pondering market moves in London, New York and Tokyo you’re probably missing out on a whole world of stock exchanges
Inspired by the emergence of Africa as a target for investment, here’s a photo taken by Stephen Eckett on a recent visit to Tanzania.
It’s the Dar es Salaam Stock […]
Is Africa the Next Big Thing?
Controlled Greed is wondering about Africa:
Africa could be — note the words “could be” — the perfect contrarian emerging markets play. That is, everyone is raving about Mainland China and India (and even Asia). Yet a few years from now we all wake up and start reading — after the fact — that pan-African investments […]
