Supply and demand 60 years on…
Ultimately supply and demand moves share prices, and it’s always been that way.
This is true of private equity buyouts now. It’s one of the factors driving the market upwards:
…a positive reinvestment effect occurs when companies are taken over for cash or near cash and the proceeds are reinvested. This affect may apply to the market […]
DNA of a superinvestor
Occasionally a cult forms around an investor. In the case of Mohnish Pabrai, it’s a sub-cult of the mother of all investment cults.
Whilst searching Amazon for classic value investing texts, Eddie Bravo of Vale tudo investing blog, discovered that two ‘must-read’ books, both out of print, were selling for considerable sums. Seth Klarman’s ‘Margin of […]
Experts with the ‘X’ factor
Most, but not all, pundits are wrong, most of the time. Here’s how to spot the experts who’ve got talent…
Robin Soole, a reader of this blog, is unimpressed by financial journalism. In the following quote he added his own merciless annotations to a reply from an editor advising a reader after one of his magazine’s […]
Cockroaches and trolls
Graeme at MoneyTerms is adding more encyclopaedic definitions to his site. I suggested a few, others are topical, which makes MoneyTerms an ally in interpreting the financial pages. So, if you want to know why cov-lite financing used by private equity firms is causing concern in the City, or discover the seedy world of the […]
Economist joins the free Internet
The Economist has joined the free Internet. It’s front page is now a big ad., but it’s a small price to pay
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!
Taking a break
Don’t go away if you don’t hear from me next week, I’m taking a week off! Meanwhile, I though I’d leave you with something to read. First, just in case you missed them, the most read stories on the Interactive Investor blog in the last couple of months:
The Great Crash of 2009
The boom must go […]
Will Bolton spill the beans?
If you think Tony Blair’s retirement is a protracted affair, think again. Compared to Anthony Bolton, Britain’s most celebrated fund manager, he rushed into it. In June 2006 Fidelity announced Mr Bolton was to hand over half of his fund to Jorma Korhonen the following January. Earlier this week it announced he is to hand […]
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