The folks over at AQR recently wrote a piece on how to use machine learning in stock portfolio construction. Specifically stock portfolio selection and timing. The article is quite technical but do provide some food for thought for less sophisticated investors on how AI can be implemented in an investment strategy.
In this interview with our Norwegian friends over at Norges Bank, Stanley Druckenmiller explains how he learned to bet (really) big when the odds are heavily in your favor and how he is using a strategy of invest and investigate. Both inspired by his old colleague George Soros.
In this interview, Mohnish Pabrai outlines his full investment strategy, emphasizing the importance of staying within his “circle of competence” and drawing lessons from seasoned investors.
In a recent interview, Howard Marks argues that economic forecasting offers little value to investors. He notes that even top investors like Warren Buffett steer clear of relying on economic or market predictions when making decisions.
In his latest article, NYU professor Aswath Damodaran explores the common challenges faced by three types of entities that have access to assured funding: corporate venture capital, sovereign wealth funds, and green energy investments.
In a recent interview, Bill Nygren from Oakmark reflects on his 40-year investment career, highlighting the significance of both financial metrics and management quality in selecting companies.
In his latest article titled “Ruminating on Asset Allocation”, Howard Marks discuss the key concepts and strategies related to asset allocation in investment portfolios.
In a recent interview, Joel Greenblatt emphasized that becoming a successful investor requires hands-on experience and, inevitably, losing money along the way.
In this video and accompanying article, NYU professor Aswath Damodaran discuss the possibility of the US Department of Justice breaking up the big US tech companies. Other antitrust remedies include operating restraints and regulated monopolies.
In his latest Q3 2024 commentary, Bill Nygren answers a number of interesting questions from their investors.
In this article, the good people at Bridgewater discuss the potential for an AI bubble, driven by the convergence of transformational technology and favorable macroeconomic conditions.
In his latest article, Michael Mauboussin provides a detailed approach to measuring a company’s moat by analyzing strategic positioning, industry dynamics, and financial metrics to assess long-term value creation potential.
In his latest article, Michael Mauboussin examines the demographics of public companies in the U.S., including how many are born, how long they live, why they die, and the returns they deliver to shareholders.
In this interview, Guy Spier explains that in a randomly selected portfolio held over a long period, most returns come from a few big winners, while many stocks do little or lose value.
In their recent article, the team at Bridgewater analyzes the exceptional performance of US equities over the past decade, breaking down the key drivers of outperformance and discussing the outlook for continued success.
In this research article, Michael Mauboussin analyzes the concept of market share. In essence, he argues that market share is an important but insufficient gauge of competitive advantage.
On this CNBC interview, David Tepper, Appaloosa Management founder and president, discuss his thoughts a number of topics, not least his bets on the Chinese market and where he’s finding opportunities.
In this with NYU professor Aswath Damodaran, Aswath shares his unique perspectives on several interesting investment topics, blending academic rigor with practical insights. He also offers his advice for the average investor, emphasizing the importance of focusing on preserving and growing wealth rather than chasing outsized returns.
In this interview with Bloomberg, Cliff Asness from AQR discusses how market inefficiencies are becoming more pronounced and persistent over time.
In this article, Howard Marks argues that while well-intentioned, most government interventions in the economy that contradict fundamental economic principles are doomed to fail and policymakers should respect rather than attempt to repeal the basic laws of economics. The free market, even with its flaws, has the best track record of producing prosperity.
In this interview, Bill Nygren from Harris Associates, explains his quite unconventional approach to value investing. Despite being a value investor, his portfolio has recently included tech giants like Netflix, Amazon, Meta, and Alphabet (his largest position). Bill shares his highly effective approach to value investing and the various strategies.
In this article and video, NYU professor Aswath Damodaran makes the data-driven case that the Federal Reserve’s influence over interest rates, the economy, and financial markets is far more limited than conventional wisdom suggests.
In this interview with Value After Hours, Guy Spier discuss a number of different topics, including how the Lollapalooza Effect drives influence. Guy uses a historic example from Russia as well as a more current example with the credibility (or lack of) when using credit rations.
In this article, Aswath Damodaran, follow up on his latest book on corporate lifecycle by examining three companies: Intel, Walgreens, and Starbucks. Companies that all face challenges as they age, and their growth slows. As Aswath puts is – Aging is inevitable for companies, and we need to better recognize CEOs who manage decline or shrinkage well, rather than just celebrating high growth.
In this article, Matthew McLennan and Kimball Brooker from First Eagle describe how they build resilience into their portfolios and why they think that’s particularly important today.
