Investing Education
-
Using the spectrum to sell
Scott Shuttleworth
June 19, 2016
Continuing in our theme of answering unanswerable questions, we last week reviewed a model which can aid investors in entering a position, but what about getting out? continue…
by Scott Shuttleworth Posted in Investing Education.
- 2 Comments
- save this article
- POSTED IN Investing Education
-
Better Forecasting
Tim Kelley
June 15, 2016
I recently found time to read “Superforecasting: The Art and Science of Prediction” by Philip Tetlock. Tetlock has previously published work on the reliability of expert forecasts and found that, on average their reliability is poor, and that predictions made by the highest-profile pundits tend to be worse than average. continue…
by Tim Kelley Posted in Investing Education.
Taggedphilip tetlock- 1 Comments
- save this article
-
POSTED IN Investing EducationTaggedphilip tetlock
-
Money for Nothing
Roger Montgomery
June 9, 2016
Companies globally are using money for overpriced buybacks and inorganically-funded dividends. The result will be very low or negative returns to shareholders. It’s money for ‘nothing’. continue…
by Roger Montgomery Posted in Investing Education, Market commentary.
-
Valuation on a spectrum
Scott Shuttleworth
June 8, 2016
Several weeks ago I posted some musings on how to estimate the cost of equity when valuing a firm via a discounted cash flow model. Of course, there was no perfect answer, but via analysis from a few different angles, we can usually come out with a reasonably good estimate. continue…
by Scott Shuttleworth Posted in Editor's Pick, Investing Education.
-
Cash’s hidden value: it’s an option over every asset class
Roger Montgomery
June 1, 2016
What’s going on … is there nothing to discuss? We recently held our shortest investment committee meeting. I timed it. It went for 22 minutes. What gives? continue…
by Roger Montgomery Posted in Investing Education, Market Valuation.
-
WHITEPAPER
HIGHER RETURNS AND LOWER RISK? YES, IT’S POSSIBLE WITH PRIVATE CREDIT
Discover how private credit can deliver higher returns with lower risk in our latest whitepaper. Learn how the Aura Core Income Fund’s AA equivalent rated portfolio has consistently outperformed while maintaining transparency and robust risk management. Unlock the insights to achieve superior risk-adjusted returns today.
READ HERE -
The Chase for Quality
Ben MacNevin
May 26, 2016
Global share markets have experienced years of structural tailwinds, benefiting active and passive fund managers alike. But if these tailwinds begin to abate, which we think is likely, it’s important to understand why active managers like Montgomery are better positioned to deliver returns to clients than passive managers. continue…
by Ben MacNevin Posted in Insightful Insights, Investing Education.
-
What’s your cost of equity?
Scott Shuttleworth
May 12, 2016
There are many questions about the art/science of investment that are unanswerable with any degree of precision (…or even a vague degree). A few immediately spring to mind. continue…
by Scott Shuttleworth Posted in Investing Education.
- 6 Comments
- save this article
- POSTED IN Investing Education
-
On the Virtues of Return on Equity
Tim Kelley
May 3, 2016
Regular readers will know that we are keen observers of business quality, and feel that one of the more helpful markers of business quality is the ability of a business to sustain a high return on equity (ROE). continue…
by Tim Kelley Posted in Investing Education.
- 4 Comments
- save this article
- POSTED IN Investing Education
-
Dalio
Roger Montgomery
March 15, 2016
Ray Dalio of Bridgewater Associates is regarded as the most successful hedge fund manager of all time. And he has a way of thinking about the world that has helped his clients navigate the vicissitudes of the market with such skill they have entrusted $186 billion to Bridgewater. continue…
by Roger Montgomery Posted in Insightful Insights, Investing Education.
-
The Numbers Behind the Numbers
Tim Kelley
March 14, 2016
In this recent post I discussed some of the statistics behind investment outperformance, and made the observation that in recent years, the stocks selected for inclusion in The Montgomery Fund have outperformed the market only 54 per cent of the time. While we get more right than we get wrong, the actual percentage of stock picks we get right is perhaps smaller than most people might think, and this is likely to hold true for most, if not all, investment managers. continue…
by Tim Kelley Posted in Insightful Insights, Investing Education.
