Nasdaq.com's Guru Investor Newsletter as of Mar. 22, 2019
| In collaboration with Validea |
Empowering Investors Using Proven Quantitative Strategies
Top Posts on Validea this Week
The Balance Between Simple and Complex in Investing
Howard Marks on Improving Investing Odds
Joel Greenblatt on the Future of Value Investing
check out Validea's Magic Formula model + 21 other quant strategies
Best Investing Podcasts
Invest Like the Best - Annie Duke
Wanna Bet?
If you had to come up with one skill that leads to successful outcomes in investing, it would likely be good decision making. But with all the information that is thrown at us these days and all the biases that work against us, the ability to tune out the noise and make good decisions is getting more difficult. Annie Duke doesn't come from the world of investing, but the principles of good decision making she teaches couldn't be more applicable. In this interview, they talk about a variety of methods we can use to make better decisions.
Masters in Business - Matthew Granade
Matthew Granade Discusses Quantitative Investment
Steve Cohen's hedge fund Point72 is a very secretive operation. It is rare to see someone from the firm do a public interview, much less an hour long in-depth podcast. This really interesting discussion with Matthew Garande, the Chief Market Intelligence Officer at Point72, offers many excellent insights into the firm, how it is run, and how they approach markets.
Will Continual Learning Trump Experience?
A new technology called continual learning (CL) enables computers to apply accumulated knowledge to make better decisions in the future and is considered "one of the hottest threads of artificial intelligence (AI) research." This according to an article in CFA Institute. "It may prove to be the single most disruptive technology for investment management," the article says, adding that CL may be better able to apply objectivity to the investment decision-making process than humans do.… Read More
Investors Back Away from Tobacco Stocks
European pension funds and insurers have started divesting tobacco holdings as a push toward socially responsible investing has led to a downturn in performance. This according to an article in Bloomberg. The article cites several examples of large European investors who have abandoned tobacco holdings, including French insurer AXA SA and UK company Aviva Plc. It also offers comments from Investec analyst Eddy Hargreaves: "Clearly, selling pressure from some investor classes who have decided that… Read More
Swedroe: Global Diversification is Key
In an article for ETF.com, BAM Alliance director of research Larry Swedroe points out that, despite the attractive valuations and growth outlooks for emerging market stocks, most U.S. investors dramatically underweight this asset class in their portfolios. According to Swedroe, the underweighting is primarily the result of two mistakes by investors: Country bias: Swedroe writes, "investors tend to believe that not only is their home country a safer place to invest, but it will produce… Read More
NABE Survey Shows Most Economists Predict Recession in 2021
A survey by the National Association for Business Economics (NABE) released last month shows that more than three-quarters of business economists expect the U.S. to enter a recession by the end of 2021, according to a recent article in Bloomberg. The article also notes that most survey participants believe the Fed will continue raising rates this year. Of the nearly 300 NABE member survey participants, the article reports that "ten percent saw a recession beginning… Read More
Seth Klarman's Canny Hedge Against Wildfires
Before the California wildfires started last November, billionaire hedge fund manager Seth Klarman's firm Baupost Group bought 14.5 million shares of PG&E stock, according to an article in Chief Investment Officer, then hedged its bet by purchasing insurance claims against the power company. Baupost's stake in the power company, worth about $49 a share before the fires started, fell to near $8 in January as a result of the utility's bankruptcy filing (in the wake… Read More
A recent article in CFA Institute provides a list of ten guidelines to use when making economic forecasts: Data matters: "Always base your forecasts on data, not qualitative arguments." Data-mining can present an alluring trap, the article says, so "torture the data until it confesses, but don't frame the data to the story." Don't make extreme forecasts: "Remember that there are only two kinds of forecasts: Lucky and wrong." Reversion to the mean: Extremes, the… Read More
Buffett on Tax Cuts, China and Women in Business
In a recent interview with Yahoo Finance, Berkshire Hathaway CEO Warren Buffett fielded questions on a variety of subjects. Here are some highlights: Tax cuts: "I don't agree with the philosophy," Buffett said, "but it helps Berkshire shareholders." In economics, he added, "you can never just do one thing. You always have to ask yourself, and then what?" Buying cryptocurrency, argues Buffett, is more speculation than investing. When investing, he explained, you're looking to the… Read More
Dodging a Market Dip on the Way to Retirement
An article in The New York Times addresses the vulnerability investors nearing retirement can feel during times of market turbulence. The article lists some suggested strategies to reduce the negative impact of a potential market downturn: Check your portfolio allocations: Retirees should ask themselves, "Is my allocation to stocks one that my stomach can handle should the market plummet 50 percent?" If not, the article argues, it might be time to think about reducing exposure… Read More
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الأحد، 21 أبريل 2019
Fwd: Howard Marks, Greenblatt, Simple vs. Complex & More
Thanks
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