Interactive Investor Blog 2.0
Posted on September 20, 2007 by Richard Beddard
Filed Under Ramblings |
Also, I’m on Facebook. In fact, currently, there are only two Richard Beddards on Facebook, and both of them are me. If you want to befriend this blog or Richard Beddard, the investor and editor, then please add the version of me illustrated by the Interactive Investor logo to your friends list and I’ll reciprocate. The other Richard Beddard is my bashful, unprofessional alter-ego. He’s illustrated by a photograph taken about 16 years ago and has sworn faithfully to his mates never to bore them about investment again.
Worth reading:
CXO blog says sharp moves in the price of crude oil can move the stockmarket modestly in the opposite direction, but generally the oil price is not a good predictor of stock market behaviour.
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The New York Times says bond markets and employment figures indicate the US is heading for recession…
…but Britain could be more exposed to the credit crunch than the US, says Der Spiegel, because the British are more dependent on financial services, and its citizens are even more indebted.
Meanwhile Stumbling and Mumbling says debt has been a source of economic stability, not instability and the government’s opponents should look elsewhere to find fault with its economic record.
Alphaville takes the credit for scooping the Northern Rock story, and shows how if you’d been paying attention - you might have seen it coming.
And on the Interactive Investor mothership, Ceri Jones says the bail-out of Northern Rock is the first big tangible sign that the credit crisis cannot be contained . Private investors have a lot to say too! As for me, you can read it here, here, here and here 
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Bloggers cheer for James Altucher, the FT columnist who doesn’t like most financial media, but…
…the media is opening up. Yippee! My favourite newspaper joins my favourite weekly by going free online. (Hat tip: John Battelle’s Search Blog). The Wall Street Journal may follow suit. Can anyone spot the trend?
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Peter Supino of Weitz Funds values cyclical shares by looking at past cycles.
Graeme thinks thinks he’s devised a better PEG ratio, the nattily entitled ‘exponentially smoothed’ PEG. Personally, I think the ‘naked PE’ is sexier, but then I’m more your value kind of investor, than your growth at a reasonable price type.
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3 Responses to “Interactive Investor Blog 2.0”
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I would actually usually prefer the naked PE as well: there is good evidence that both value stocks in general, and those the naked PE selects in particular, out-perform.
However, there are times when you want to screen for growth stocks, and there were no good ways of doing this. I am not sure I like the name I came up with though!
Yes, in fact I do your Super PEG a disservice. Keith Anderson, inventor of the Naked PE has told me a number of times that the plain old PEG is of no predictive use at all (according to his back testing). So if the Super PEG works, it’s an infinite improvement on the plain old PEG.
And thanks for being my friend! I was beginning to think my professional alter-ego would end up the electronic equivalent of ‘Johnny no mates’
I am not complaining! My smoothed PEG is unproven. I do not think I even have access to the data I need to back test it. It has to be better than the standard PEG (useless) as it addresses its obvious deficiencies.
Keith Anderson’s work sounds more and more interesting, unfortunately his published papers are only on value strategies (including the naked PE). Maybe he has given up on finding growth strategies that work …