Archive for the ‘ValueWalk’ Category

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS flickering line on the right side.


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See 2017 Hedge Fund Letters.

Here are my take aways:

  • Accounting is the language of business.
  • For founders, nothing can beat painting your own painting.
  • Apply the “Newspaper Test” to all your decisions.
  • Know and take care of your Durable Competitive Advantage.
  • Choose your heroes carefully because you will become them.
  • You are your children’s natural hero, embrace that role.

Warren Buffett, Warren Buffet, stock market, value investing, bargain stocks, bargain hunting, value stocks, value equities, Warren Buffett quotes, investment methods, investing philosophy Valuewalk, berkshire hathaway

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Jim Chanos on Tesla – Musk Will Leave

By Jacob Wolinsky. Originally published at ValueWalk.

Jim Chanos on Tesla Inc TSLA future from today – see the video and an informal transcript below


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So they are dependent despite what the CEO says they’re dependent on the Capital Markets stay open and then make a very big they get a lot of faith in Elon Musk when a lot of this is about the mystique of the one must you think that that’s misplacement what’s to stop someone from if they are having their struggles can’t tap the capital markets come in and say you know what I’m going to buy it just because I want to get my hands on the line. Well I think you’d probably have to ask you must that because he’s spending more and more of his time in his other ventures and I think that’s one of the concerns is that I think he’s actually going to probably move on at some point. His latest compensation package actually specifically says he keeps his compensation if he leaves to another company. The CEO and stays as non-executive chairman. So my suspicion is is he’s going to be working on his Mars project sooner rather than later. It’s a little bit sexier than making cars. But the problem is the liability is a market cap. This is a 60 70 billion dollar company. This is not just some small I’m going to buy Elon Musk acquisition. You’re paying big big money to lose money. And I don’t know that that almost any company wants to run that risk.

……………

So the people that punt their money down a few years ago are hoping to get a car…
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Jim Chanos on Tesla: Musk Will Leave

By Jacob Wolinsky. Originally published at ValueWalk.

Jim Chanos on Tesla Inc TSLA future from today – see the video and an informal transcript below


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So they are dependent despite what the CEO says they’re dependent on the Capital Markets stay open and then make a very big they get a lot of faith in Elon Musk when a lot of this is about the mystique of the one must you think that that’s misplacement what’s to stop someone from if they are having their struggles can’t tap the capital markets come in and say you know what I’m going to buy it just because I want to get my hands on the line. Well I think you’d probably have to ask you must that because he’s spending more and more of his time in his other ventures and I think that’s one of the concerns is that I think he’s actually going to probably move on at some point. His latest compensation package actually specifically says he keeps his compensation if he leaves to another company. The CEO and stays as non-executive chairman. So my suspicion is is he’s going to be working on his Mars project sooner rather than later. It’s a little bit sexier than making cars. But the problem is the liability is a market cap. This is a 60 70 billion dollar company. This is not just some small I’m going to buy Elon Musk acquisition. You’re paying big big money to lose money. And I don’t know that that almost any company wants to run that risk.

……………

So the people that punt their money down a few years ago are hoping to get a car…
continue reading





Social Security Is Doomed. Now What?

By The Foundation for Economic Education. Originally published at ValueWalk.

There’s no way to sugar-coat it. Social Security is going to fail. There are, of course, ways to possibly extend its life for a few years, or even decades, but ultimately, like all Ponzi schemes, it will collapse. By the federal government’s and the Social Security Board of Trustees’ own admissions, the Social Security program will be paying out more than it takes in in just 4 years. At current rates (and assuming the federal government fully pays back the more than $5 trillion it “borrowed” from Social Security’s accounts), the program will be completely out of money in about 17 years. What does this situation mean for current working Americans? Is there any way to solve this problem? Join Antony Davies and James Harrigan as they discuss this and more on this week’s episode of Words and Numbers.


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Social Security

By US Government (Social Security Administration) [Public domain], via Wikimedia Commons

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Quick Hits

Splitting up Amazon

Former Walmart US CEO says Congress should consider splitting up Amazon

www.cnbc.com

National pencil day

NATIONAL PENCIL DAY – March 30

nationaldaycalendar.com

Foolishness of the Week: Cancer warnings on coffee, vacancy tax

Why California’s Lawsuit Industry Wants You to Think Coffee Causes Cancer | Walter Olson

fee.org

Cancer Warning Labels Based on California’s Proposition 65

www.cancer.org

Judge Rules Coffee Needs Cancer Warning, Giving Starbucks & Dunkin’ Donuts Jitters

www.refinery29.com

De Blasio eyes vacancy tax for greedy landlords seeking top-dollar

nypost.com

Topic of the Week: Social Security

Social Security Administration Spending Tops $1 Trillion for First Time

www.cnsnews.com

Summary: Actuarial Status of the Social Security Trust Funds, July 2017

www.ssa.gov

Social Security Trust Fund
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Steve Eisman At Oxford Union

By Jacob Wolinsky. Originally published at ValueWalk.


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Steve Eisman | Wall Street Debate | Opposition (4/8)

OxfordUnion


Published on Apr 3, 2018

Now the reason why they made more money every single year was that the firms made more money every single year but their firms made more money every single year because the leverage of the firms was going up every single year. And really what was happening was they mistook leveraged for genius. And the problem that emerged was that if you had gone to any of the executives of these firms and I did and said to them listen the entire paradigm of your career is wrong. The response would have been Listen kid I made 50 million dollars last year. What did you make. It’s very hard to tell someone who thinks he’s God that he’s wrong. Subprime mortgages you know people today not even remember really what a subprime mortgage was all about. It was a mortgage that had a two or three year teaser rate and there was Reise price upward for the next 27 or 28 years. And most mortgages originated between 2002 and August of 2007 had a teaser rate of 3 percent and a go to rate of 9 percent 3 percent 9 percent. The industry and Wall Street underwrote the loans to the teaser rate which is a fancy term that means that the underwriters knew that the consumer could only afford to pay the 3 percent for the 2 to 3 years he or she could not afford to pay the 9 percent. Now why would anyone write a loan a 30 year loan where the customer can only afford to pay the teaser rate for the first two to three years. And here’s the second great lesson of the financial crisis. Incentives trump ethics. Almost every time. The reason why this happened was that the the consumer would take out a loan and would pay three to four points upfront for the privilege of getting the loan.

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Best Warren Buffett Speech – University of Nebraska – Newly Uploaded

By VW Staff. Originally published at ValueWalk.

Warren Buffett 1993 speech – see the full video and informal transcript below – first an intro from the uploader

H/T Value Investing World

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS flickering line on the right side.

Also see

Breaking Down Buffett

Warren Buffett Books: Recommended Reading List

Buffett CNBC Interview – Highlights


Get The Full Warren Buffett Series in PDF

Get the entire 10-part series on Warren Buffett in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Warren Buffett eBook

See 2017 Hedge Fund Letters.

Here are my takeaways:

  • Accounting is the language of business.
  • For founders, nothing can beat painting your own painting.
  • Apply the “Newspaper Test” to all your decisions.
  • Know and take care of your Durable Competitive Advantage.
  • Choose your heroes carefully because you will become them.
  • You are your children’s natural hero, embrace that role.

Warren Buffett, Warren Buffet, stock market, value investing, bargain stocks, bargain hunting, value stocks, value equities, Warren Buffett quotes, investment methods, investing philosophy Valuewalk, berkshire hathaway

You know what I came down today it’s been it’s been 50…
continue reading





(Webinar Replay) CAPE Fear: Why CAPE Naysayers are Wrong

By Research Affiliates. Originally published at ValueWalk.

Rob Arnott discusses US CAPE ratios which are at levels previously reached only in 1929 and during the tech bubble. Should we fear the lofty valuation multiples, or should we fear the CAPE ratio itself because of its notorious unreliability in picking market peaks and troughs?


Get The Timeless Reading eBook in PDF

Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Timeless Reading eBook

See 2017 Hedge Fund Letters.

CAPE Fear: Why CAPE Naysayers are Wrong

Article by Research Affiliates

CAPE Fear

The post (Webinar Replay) CAPE Fear: Why CAPE Naysayers are Wrong appeared first on ValueWalk.

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Yale’s Shiller Says U.S. Mid-Term Power Shift Could Bring Market Down

By VW Staff. Originally published at ValueWalk.

Yale University Professor Robert Shiller and Howard Ward, chief investment officer of growth equities at Gabelli Funds, discuss bear markets and the potential impact of the U.S. mid-term election. They speak with Bloomberg’s Tom Keene on “Bloomberg Surveillance.” (Source: Bloomberg)

[REITs]

See 2017 Hedge Fund Letters.

stock investors Tourbillon Capital Partners SPX Partners

The post Yale’s Shiller Says U.S. Mid-Term Power Shift Could Bring Market Down appeared first on ValueWalk.

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Podcast: Eric Balchunas’s Adventures In ETF Land (Wes)

By Alpha Architect. Originally published at ValueWalk.

Here is a link to our podcast on Behind the Markets


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ETF guru Eric Balchunas discusses his adventures in the ETF industry and where he thinks the industry is heading.

You can listen to the podcast via the link below:


  • The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Alpha Architect, its affiliates or its employees. Our full disclosures are available here. Definitions of common statistics used in our analysis are available here (towards the bottom).
  • Join thousands of other readers and subscribe to our blog.
  • This site provides NO information on our value ETFs or our momentum ETFs. Please refer to this site.

The post “Podcast: Eric Balchunas’s Adventures In ETF Land (Wes)” appeared first on Alpha Architect.

stevepb / Pixabay

The post Podcast: Eric Balchunas’s Adventures In ETF Land (Wes) appeared first on ValueWalk.

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Passive Investing May Not Work For Fixed Income. But What Does?

By Columbia Threadneedle Investments. Originally published at ValueWalk.

Gene Tannuzzo explains why a strategic beta approach makes a lot of sense in fixed income, particularly relative to traditional passive strategies.


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Timeless Reading eBook

See 2017 Hedge Fund Letters.

stevepb / Pixabay

Passive investing poses a tremendous risk in the fixed-income market, says Senior Portfolio Manager Gene Tannuzzo. A traditional bond index is weighted toward the most indebted issuers and may not provide the risk diversification investors need. Tannuzzo describes a strategic beta approach as an alternative — one that uses rules-based filters to target a better balance of yield, quality and liquidity.

Transcript

In the fixed income market, I think passive investing actually poses a tremendous risk.

There has been a shift from active to passive investing across asset markets. So over the last year we’ve seen over $70 billion move into passive strategies that track the Bloomberg Barclays U.S. Aggregate Index.

I think it’s important for investors to understand what that index is. Often it’s tempting to think about that as “the S&P 500 of bonds,” but I think investors need to understand that bond indices are built a bit differently than equity indices. You get the largest exposure to the most indebted issuers.

So let’s think about what that means for the U.S. Aggregate Index. For example, the U.S. Treasury had $9 trillion of public debt outstanding before the financial crisis. Today it has $19 trillion. So that has more than doubled, and that exposure is directly reflected in the exposure in passive fixed income indices like the U.S. Aggregate. So, for example, the U.S. Aggregate Index is very concentrated in interest-rate risk. Most…
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Zero Hedge

Dow's 8 Day Losing Streak Set To End Amid Global Relief Rally

Courtesy of ZeroHedge. View original post here.

After yesterday's intraday risk reversal, which sent S&P futures from session highs just before the European open, to lows following a day of news with more trade war developments and renewed Italian concerns, while the Dow closed down for 8 sessions in a row, tied for the longest losing streak since 1978, markets appear willing to put it all behind as they close out the week, with futures rising to 12 points to 2,765 and just shy of session highs, while the Dow finally appears poised to end its losing streak.

...



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Insider Scoop

6 Stocks To Watch For June 22, 2018

Courtesy of Benzinga.

Some of the stocks that may grab investor focus today are:

  • Wall Street expects CarMax, Inc. (NYSE: KMX) to report quarterly earnings at $1.24 per share on revenue of $4.59 billion before the opening bell. CarMax shares fell 0.63 percent to $70.60 in after-hours trading.
  • Red Hat Inc (NYSE: RHT) reported better-than-expected results ...


http://www.insidercow.com/ more from Insider

Chart School

Large Caps Feel the Heat as Semiconductors Struggle

Courtesy of Declan.

Yesterday, Small Caps led the rally as Large Caps lost ground. Today, those same weak Large Caps took another hit and dragged Tech indices with them.  Small Caps also suffered but they have plenty of wiggle room before they hit trouble.

The Dow sell-off didn't stop at its 50-day MA and is now on course to test its 200-day MA. Technicals, aside from Stochastics, are bearish.


Of greater concern was the hit to the Semiconductor Index. The attempt to hold 1,393 support was swiftly ...

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Phil's Favorites

Opioids don't have to be addictive - the new versions will treat pain without triggering pleasure

 

Opioids don't have to be addictive – the new versions will treat pain without triggering pleasure

shutterstock.

Courtesy of Tao Che, University of North Carolina – Chapel Hill

The problem with opioids is that they kill pain – and people. In the past three years, more than 125,000 persons died from an opioid overdose – an average of 115 people per day – exceeding the number killed in car accidents and from gunshots during the same period.

America desperately needs safer an...



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Digital Currencies

BIS Blasts Cryptos In Special Report: "Beyond The Hype"

Courtesy of Mike Shedlock, MishTalk

The BIS blasts cryptos over scaling issues, energy, and trust. The BIS is correct. Cryptos are fatally flawed as money.

A Bank of International Settlements (BIS) report examines cryptocurrencies in depth. The study, called "Looking Beyond the Hype" investigates whether cryptocurrencies could play any role as money.

Bloomberg, Reuters, and the Bitcoin Exchange guide all have articles on the report but not one of the bothered to link to it.

After a bit of digging, I found the crypto report is part of an upcoming BIS annual report. The BIS pre-released the crypto report today (as chapter 5).

Here's a l...



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Biotech

Mind molding psychedelic drugs could treat depression, and other mental illnesses

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Mind molding psychedelic drugs could treat depression, and other mental illnesses

By agsandrew/shutterstock.com

Courtesy of David E. Olson, University of California, Davis

It seems that psychedelics do more than simply alter perception. According to the latest research from my colleagues and me, they change the structures of neurons th...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



more from ValueWalk

Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



more from Kimble C.S.

Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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