Playing the plan: Mawer’s U.S. equity portfolio | EP86
“Making the macro micro” around demand trends, inflation concerns, valuations, and earnings. We discuss Comcast, Visa, Dollar General, Alphabet, and more.
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Coffee cup risk
It is much more valuable to have a probabilistic risk evaluation process.
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(Not) boring finds for November 2018
This week we learned about e-krona, a digital currency in Sweden; the lasting impacts of Black Monday on Wall Street; how McRib availability can affect S&P 500 returns (hint: it can’t) and appreciated a few wise reminders on what to do when “things get wild” in the markets.
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Decision-making under risk and uncertainty
We know we can’t predict the future (read: unknowns), but we can account for the likelihood of some scenarios.
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Why public investors should care about the rise of private investment
To be sure, there are many reasons a company may prefer to turn to private investors over more traditional public markets, but as more companies choose private funding when they need to raise capital, what are the implications for investors in public markets?
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A selective approach to equity markets
Last week, Morningstar interviewed international equity portfolio manager David Ragan about finding resilient stocks in international markets during turbulent times.
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(Not) boring finds for October 2018
Our reading list this week considers factors leading to the next market correction; stock-based compensation; golfing economists; and the pitfalls of generalization.
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The competitive advantages of decentralized structures
How can a business continue to grow while still retaining the internal characteristics that helped contribute to its past success?
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(Not) boring finds for September 2018
A reminder to focus on the long-term; a look at growing corporate debt levels; a helpful explanation of stock buy backs, and a tip to improve the workplace. It’s been an illuminating week.
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Canadian lifecos: More than just insurance
Canadian insurance companies are no longer just in the business of selling insurance to Canadians. They function more like financial conglomerates, and that, for investors, is potentially a good thing.
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(Not) boring finds for August 2018
This week we admired some exemplary examples of CEO annual letters; raised our eyebrows at the remarkable effects of trade wars; reaffirmed our belief that language matters; and despaired at nefarious online trading platforms.
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Defensiveness: A suitcase word
Given how often “defensive” enters into the investing lexicon and that it can mean different things to different people, aiming for a greater degree of precision in its definition may help to reduce misunderstanding or generalized historical bias.
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(Not) boring finds for June 2018
Twenty ways to make mistakes with money, the history of monetary innovation, untangling misconceptions around interest rates, and the truth (data) about the creativity of pop songs. It was (not) a boring week!
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Coffee cup risk
It is much more valuable to have a probabilistic risk evaluation process.
December 12, 2018
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(Not) boring finds for November 2018
This week we learned about e-krona, a digital currency in Sweden; the lasting impacts of Black Monday on Wall Street; how McRib availability can affect S&P 500 returns (hint: it can’t) and appreciated a few wise reminders on what to do when “things get wild” in the markets.
November 28, 2018
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Decision-making under risk and uncertainty
We know we can’t predict the future (read: unknowns), but we can account for the likelihood of some scenarios.
November 14, 2018
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Why public investors should care about the rise of private investment
To be sure, there are many reasons a company may prefer to turn to private investors over more traditional public markets, but as more companies choose private funding when they need to raise capital, what are the implications for investors in public markets?
October 31, 2018
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A selective approach to equity markets
Last week, Morningstar interviewed international equity portfolio manager David Ragan about finding resilient stocks in international markets during turbulent times.
October 17, 2018
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(Not) boring finds for October 2018
Our reading list this week considers factors leading to the next market correction; stock-based compensation; golfing economists; and the pitfalls of generalization.
October 3, 2018
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The competitive advantages of decentralized structures
How can a business continue to grow while still retaining the internal characteristics that helped contribute to its past success?
September 19, 2018
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(Not) boring finds for September 2018
A reminder to focus on the long-term; a look at growing corporate debt levels; a helpful explanation of stock buy backs, and a tip to improve the workplace. It’s been an illuminating week.
September 5, 2018
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Canadian lifecos: More than just insurance
Canadian insurance companies are no longer just in the business of selling insurance to Canadians. They function more like financial conglomerates, and that, for investors, is potentially a good thing.
August 22, 2018
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(Not) boring finds for August 2018
This week we admired some exemplary examples of CEO annual letters; raised our eyebrows at the remarkable effects of trade wars; reaffirmed our belief that language matters; and despaired at nefarious online trading platforms.
August 1, 2018
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Defensiveness: A suitcase word
Given how often “defensive” enters into the investing lexicon and that it can mean different things to different people, aiming for a greater degree of precision in its definition may help to reduce misunderstanding or generalized historical bias.
July 18, 2018
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(Not) boring finds for June 2018
Twenty ways to make mistakes with money, the history of monetary innovation, untangling misconceptions around interest rates, and the truth (data) about the creativity of pop songs. It was (not) a boring week!
June 27, 2018
