"New research on the performance of institutional portfolios shows that after risk adjustment, 24% of funds fall significantly short of their chosen market benchmark and have negative alpha, 75% of funds roughly match the market and have zero alpha, and well under 1% achieve superior results after costs—a number not statistically significantly different from zero."
As detailed in "How To Make Money Picking Stocks", quantifying the future cash flow expectations embedded in stock prices is critical to making an informed investment decision.
My mentor, Michael Mauboussin, in his latest piece: " The Importance of Expectations – The Question that Bears Repeating: What’s Priced In?" explains more eloquently than I that the key to successful investing is to systematically distinguish between price and value – two very distinct concepts.
I explain key details behind our uniquely rigorous research process.
I also cover my top picks and pans in the "Hold It Or Fold It" portion of my interview with host Chuck Jaffe.
The advisors in Morgan Stanley Smith Barney's PMI Group are among the most sophisticated and conscientious that I have ever met. My presentation focused on how New Constructs makes diligence profitable and cost-effective.
When I ran across the recent article "270,033 pages later, a chance to catch our breath…", I could not help but admire footnoted.org's marketing moxy.
The article provides a count of the number of pages of 10-K filings that have poured in during the real earnings season. It also highlight a couple of the largest filings. At first glance, it is easy for one to assume that all of the 270,033 pages were also analyzed.
Here is the explanation behind why I suggested investors "brace" their portfolio and go net short in my "Don’t be fooled: Get short now" column on MarketWatch.com. In addition, I provide free reports on the stocks and funds I suggest shorting.
VMW’s valuation has its head in the clouds.
This stock is a great short in most any scenario and is especially attractive in the event of a global economic slowdown led by a recession in Europe.
As an adult, Halloween tends not to be that scary for me usually.
But after last week’s stock market rally in the face of the deteriorating situation in Europe and the rest of the world, I am afraid…for the stock market and am reminded of fall/winter 1999.
Mr. Bogle, an invaluable voice of reason for investors over many years, suggests that there is too much speculation in our equity markets.
His comments jibe entirely with my post, Rise of the Speculative Movement.
Here is a free copy of our report on GE for Ask Matt readers. This report provides details behind Matt’s analysis of GE in his recent article in USA Today. Click here for our report: General Electric (GE) Neutral Risk/Reward Rating.
Great interview this am with Dagan McDowell and Ashley Webster about my recent article: "The Fed’s Bazooka: Revealed As Final Policy Firepower in Jackson Hole".