Distressed Assets: 2010 versus 2020
I am in the middle of a debate with my friend Nir Kaissar about peoples’ consumption habits. My position is as long as you can afford...
Transcript: James Montier
The transcript from this week’s, MiB: Jame Montier, GMO, is below. You can stream and download our full conversation,...
MiB: James Montier, GMO
This week, we speak with James Montier, a member of GMO’s Asset Allocation team. Prior to joining GMO in 2009, he was co-head of Global...
BBRG: Stock-Market Bubble Fears, Pro & Con
Stock-Market Bubble Fears Are Greatly Overblown Despite some pockets of excess, valuations today are nothing like those of the dot-com...
MiB: Redefining Value to Include Growth
Most investor’s definitions of value are too narrow. Merely looking at Price to Earnings ratios (P/E) or Price to book (P/B) misses key...
Value Has Never Been This Cheap vs. Momentum
Source: Bank of America Merrill Lynch The chart above is quite amazing. It comes to use from Savita Subramanian, who runs the...
Coming Next Week: MIB Live with Gene Fama and David Booth
I am excited about our next Masters in Business: Live! This time, we will be chatting with Nobel Laureate Gene...
Bull Market: Earnings or Multiple Expansion?
Source: @biancoresearch One of the least understood details of the great 1982-2000 bull market was just how significant the...
MIB: Andrew Ang Explains Why Value Has Underperformed
In 2018, “Value” had the fourth worst drawdown in almost 100 years of data going back to 1925 (See Fama-French data set) according...
Emerging Markets: Returns, Valuations, Growth
My friend Meb Faber of Cambria Investments referenced these charts via Amundi in his research email list. (You can sign up here) Several...