Jul 8, 2016 by Alex Dumortier, CFA2 Key Questions Prove Professional Investors Are Irrational, TooFund managers' expectations regarding expected returns on stocks, bonds, and other asset classes versus their own performance simply don't add up.
Jul 7, 2016 by Alex Dumortier, CFAStocks Will Gain 15% -- Should You Listen to Jeremy "the Wizard of Wharton" Siegel?The Wharton finance professor sees 10% to 15% gains for stocks in the second half, but is there any reason to listen to him?
Jul 6, 2016 by Alex Dumortier, CFA3 Graphs That Prove Brexit Is No Lehman BrothersIt's a relief: Brexit was a systemic event for the European Union, but not for financial markets.
Jul 5, 2016 by Alex Dumortier, CFAThe Return of "Roach Motel" FundsTwo U.K. commercial property funds have barred their investors from making withdrawals, illustrating some of the perverse consequences of ultra-loose monetary policy.
Jul 2, 2016 by Alex Dumortier, CFA11 Warren Buffett Quotes You've Never Heard Before (Plus 2 From Charlie Munger)Twenty years ago, a small circle of investors and academics gathered in New York to listen to Berkshire Hathaway's Warren Buffett and Charlie Munger. Here are 11 of the best Warren Buffett quotes (plus two from Charlie!) from the transcript.
Jul 1, 2016 by Alex Dumortier, CFAWarren Buffett Is Watching This Big Deal Very CloselyAs Mondelez International goes after Hershey Co, there are all sorts of reasons this deal would make sense for Warren Buffett's Berkshire Hathaway Inc.
Jun 30, 2016 by Alex Dumortier, CFADidn't Get the Brexit Discount? There's Still Time to Buy These 3 BanksAs Brexit fears subside, raised dividends and new share repurchase programs highlight the attractiveness of Bank of America Corp, Citigroup Inc., and JPMorgan Chase & Co.
Jun 29, 2016 by Alex Dumortier, CFAHong Kong's Warren Buffett on Brexit, China's Future, and ReadingDuring trying times, it's worth listening to our most successful elders. Li Ka-shing, Hong Kong's wealthiest man, has a thoughts on the topics of the day.
Jun 28, 2016 by Alex Dumortier, CFAThis Labor Market Trend Could Puncture the Stock Market BubbleWorkers' rising share of income means companies in the S&P 500 will be hard-pressed to deliver the growth required to justify today's valuations.
Jun 27, 2016 by Alex Dumortier, CFABrexit: Here's What 3 Billionaire Investors Are Saying (and Doing)Warren Buffett, Howard Marks and George Soros have over a century's worth of market experience among them; here's what they've been saying about Brexit.
Jun 27, 2016 by Alex Dumortier, CFAThe UK's Loss Is Your Gain: 3 Stocks to Capitalize on BrexitWhile the market initially underestimated the risk of Brexit, it now appears to be overreacting to the event -- particularly when it comes to the shares of these top banks.
Jun 22, 2016 by Alex Dumortier, CFAIs Stanley Bergman a Better Capital Allocator Than Warren Buffett?Fundamental investors ought to get to know the story of Henry Schein, Inc. and its South-African-born CEO, Stanley Bergman.
Jun 21, 2016 by Alex Dumortier, CFAWhy Financial Markets Are Getting "Brexit" WrongProfessional investors appear to be significantly underestimating the odds of a "Leave" victory in this Thursday's referendum on the U.K. membership in the European Union -- which could have massive consequences.
Jun 20, 2016 by Alex Dumortier, CFAThe 10 Most Overpaid Tech CEOsTechnology companies are some of the worst offenders when it comes to overpaying their chief executive officers. Here are 10 technology CEOs who aren't earning their keep.
Jun 17, 2016 by Alex Dumortier, CFAThe Only ETF You Need to Own for the Next DecadeContrary to their long-term historical record, value stocks have not outperformed growth stocks over the past decade, providing investors with a good opportunity to bet on a reversal.
Jun 15, 2016 by Alex Dumortier, CFAThe Real Reason China's Stock Market Isn't Ready for the Big LeaguesThe index declined to add China's A shares to its widely-followed MSCI Emerging Markets Index. In light of China's propensity to stock market bubbles, that looks like a prudent decision.
Jun 14, 2016 by Alex Dumortier, CFAThe Greatest Risk for World Markets? Ignore It!Historically low interest rates reflect (in part) a near-term risk hanging over financial markets. That's a problem for traders, but long-term investors can safely ignore it.
Jun 13, 2016 by Alex Dumortier, CFAWith LinkedIn, Microsoft CEO Satya Nadella Takes the First Step Toward Tarnishing His LegacyMicrosoft has a spotty record with its large acquisitions, and given the $26 billion it's offering for social network LinkedIn Corp, this latest deal looks unlikely to improve that record.
Jun 10, 2016 by Alex Dumortier, CFAThe European Bank That Beats Goldman Sachs -- at 1 Times Book ValueWith European investment banks struggling to adapt their business models to the post-crisis era, UBS is a glaring exception.
Jun 9, 2016 by Alex Dumortier, CFACarl Icahn on Fed Bubbles, Deficit Obsession, and Why He Sold AppleCarl Icahn doesn't mince words. In a freewheeling interview on CNBC, the billionaire investor explained why fear of the deficit is "ridiculous" and why he sold Apple despite continuing to believe it's a great company.