Money and Finance
- Horizon Kinetics: Q2 2014 Commentary
Link to: Horizon Kinetics: Q2 2014 Commentary Understanding the basic presumptions of asset allocation can hardly be more critical, since we all invest based on these foundational assumptions. This quarter, we examine the historical returns from...
- Horizon Kinetics March 2013 Market Commentary
Continuing our series on predictive attributes for outperformance, this month we discuss scalability. Scalability refers to the potential for a company to increase its operations (and revenues) substantially, without incurring substantial marginal costs...
- Excerpt From Chapter 1 Of Quantitative Value By Wesley Gray And Tobias Carlisle
This book is organized into six main parts. Part One sets out the rationale for quantitative value investment and introduces our checklist. In it we examine several simple quantitative value strategies to illustrate some key elements of the investment...
- One Reason Dividend Investing Works So Well
I am sure there are a number of reasons why dividend investing works, not the least of which is dividends role in long term total returns. I see another factor that dividend investing one reason why dividend investing works so well, and it has to...
- The Wine Cellar - James Montier: Dividends Still Matter
One of the main things I am using the blog for is an ongoing notebook of my favorite insights on investing. The Wine Cellar is the ideas, papers and analysis that are most useful and informs my perspective over the long haul. So the first one to...
Money and Finance
Horizon Kinetics May 2013 Market Commentary
Regular readers are familiar by now with Horizon Kinetics’ focus on qualitative attributes that may be predictive of outperformance. Consistent with the Firm’s long-term value investing philosophy, identification of these traits has been central to our research and investing process since the inception of the Firm. Fundamental research is generally required to identify these characteristics. This is a time-intensive process, which contrasts with the quantitative screens that can be used to identify groups of stocks with similar price to earnings ratios or sector classifications. However, the long-term performance of companies described by these predictive attributes suggests that the effort is worthwhile. Recent commentaries have highlighted owner-operators, dormant assets, spin-offs, bits & pieces, and scalability. This month’s discussion will center around long product lifecycles.
- Horizon Kinetics: Q2 2014 Commentary
Link to: Horizon Kinetics: Q2 2014 Commentary Understanding the basic presumptions of asset allocation can hardly be more critical, since we all invest based on these foundational assumptions. This quarter, we examine the historical returns from...
- Horizon Kinetics March 2013 Market Commentary
Continuing our series on predictive attributes for outperformance, this month we discuss scalability. Scalability refers to the potential for a company to increase its operations (and revenues) substantially, without incurring substantial marginal costs...
- Excerpt From Chapter 1 Of Quantitative Value By Wesley Gray And Tobias Carlisle
This book is organized into six main parts. Part One sets out the rationale for quantitative value investment and introduces our checklist. In it we examine several simple quantitative value strategies to illustrate some key elements of the investment...
- One Reason Dividend Investing Works So Well
I am sure there are a number of reasons why dividend investing works, not the least of which is dividends role in long term total returns. I see another factor that dividend investing one reason why dividend investing works so well, and it has to...
- The Wine Cellar - James Montier: Dividends Still Matter
One of the main things I am using the blog for is an ongoing notebook of my favorite insights on investing. The Wine Cellar is the ideas, papers and analysis that are most useful and informs my perspective over the long haul. So the first one to...