Posts Categorized: Finance

The Millennial Way Forward

If nothing changed about your current retirement plan, would you be able to easily support yourself and your loved ones come age 65? For many of my fellow millennials this is a sobering question. On the one hand, it is hard to think and plan four decades ahead. We are still young — scraping our way to…

Resources For Aspiring Writers

Let me get this out of the way: I am not some great expert on this topic. You aren’t supposed to say that before you try to give advice, but I’ve only been writing here for about 6 months so I felt a disclaimer was necessary. That said, I feel as though I’ve learned a…

Building The Perfect Investor

The idea for this post came from Nas and Charles Murray. That’s got to be the only time those two have been mentioned together in a sentence, so let me explain. Nas has a song (you can listen here, not safe for work at all and may offend) where he—how can I put this nicely—…

15 Truths That Few Believe

What important truths do very few people agree with you on? This is the penetrating first question Peter Thiel asks readers in his great book Zero to One. The question is designed to promote deep and creative thinking, to uncover ideas that move us from “zero to one.” Moving from zero to one happens when…

More Stocks That Are Much Cheaper Than Usual

I had fun with a recent post highlighting some of the larger U.S. stocks which are trading at much cheaper valuation multiples than they have over the prior ten years (on average). In that post, Apple rose to the top of the heap in terms of cheapness relative to its own past.  Below, I have…

Buyback Yield in the U.S. Market

Buybacks are the hot topic. I’ve written before that buybacks can be very good under certain conditions (cheap valuations, high earnings quality, not funded by new debt issuance), but they can be very bad too (especially when the stock is expensive).  Many are saying buybacks are evil because spending on buybacks is stifling spending on…

Tech stocks CAN be great

Value investing has been the most consistent way to outperform the market for decades. It continues to work because it forces you to buy stocks for which the market has very low expectations (expectations which often turn out to be overly pessimistic). People are overly sensitive to losses and often shun value stocks. But what…

The Devil’s Dictionary

Jason Zweig has a fantastic new website that include’s a “Devil’s Financial Dictionary,” you have to check it out.  Zweig’s dictionary was (I think) inspired by one of the most fun little volumes every written, Ambrose Bierce’s “Devil’s Dictionary.” Here are a few of my favorite definitions from the original: CONSERVATIVE, n. A statesman who…

Searching for Deep Value Stocks

Deep value investing is a powerful way to beat the market, but deep value stocks are an endangered species in the U.S. I was recently talking with Tobias Carlisle, author of Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations, about what constitutes a deep value stock. To find these…

Six Things I Wish I’d Studied in High School

I was a complete waste of space in high school. Lots of drinking, bad grades, worse attitude. It didn’t help that so little of what was being taught could be practically applied in the real world. I took 8 friggin years of French, but didn’t spend a single hour learning about money or investing–putain, so…