U.S. Mid Cap Equities: Tech, Regional Banks, and Valuation | EP140
A look at the strategy a year on and why we think valuation should be more top of mind for investors.
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Thrill ride or smooth path?
In investing, it is also alluring to dive right in and try a stock picking approach that seems to work well for others.
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Oligarchs, despots, and soccer moms: Reflections on the price of oil (part 2)
Last week, we weighed in on the recent drop in the price of oil. We likened the move to a rock thrown into a pond and cautioned against reaching for the falling knife.
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Don't try to catch a falling knife: Reflections on the current price of oil (part 1)
The price of oil has fallen precipitously in recent months. WTI now trades at around $67 per barrel, a far cry from the $100 level attained this past summer. The move is akin to a large rock dropping into the investment pond: we expect ripple effects.
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Lesson of 1909
Last week was a productive one for diplomats. Not only did the U.S. and China sign a landmark climate change accord, the two mega-powers also established military guidelines to govern the contested waters off China and agreed to reduce technology tariffs.
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Looking beyond borders: Why Europe isn't dead
I recently had a discussion with a client that had just returned from a European vacation. He shared stories about the interesting food, culture, and architecture. But he also offered a warning… “The economy in Europe is dead.”
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Frogs in the pot
A few weeks ago I attended a lunch with Jean-Claude Trichet. As one might expect from the former head of the European Central Bank, Trichet spoke at length on the economy, quantitative easing and monetary policy. However, what was pleasantly surprising was his candour.
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What we know from marshmallows: The relationship between self-discipline and success
In 1968, researchers from Stanford University stuck a marshmallow in front of a four year old girl and gave her a choice: eat the marshmallow now or wait 15 minutes and receive TWO marshmallows.
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Worrying signals for Russia’s economy
Two important events involving Russia occurred in the last week. First, Russia amassed a highly suspicious buildup of 20,000 troops on the Ukrainian border. Second, Russia’s yield curve inverted.
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Skating over the line
Narrow rules have a cost. Although there is value in the clarity of rule, process and position, a system must also be flexible.
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Language matters
Just how important is a common language to investing? While some investors view it as the sort of soft, fluffy stuff best left to liberal arts majors, empirically—and in our experience— it is an essential feature of high performing investment teams.
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The toothbrush test
A few weeks ago, I was introduced to Google’s Toothbrush Test. Contrary to the images that the name inspires, this test does not involve sticking a web-enabled toothbrush into your mouth to collect data on your molars. Instead, it relates to how Google allocates capital.
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Look for the baby
This past week, one of my colleagues shared a learning at our weekly research meeting. Christian and his wife, Siggi, were on vacation when Siggi unfortunately dropped her iPhone into the bath.
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Thrill ride or smooth path?
In investing, it is also alluring to dive right in and try a stock picking approach that seems to work well for others.
December 18, 2014
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Oligarchs, despots, and soccer moms: Reflections on the price of oil (part 2)
Last week, we weighed in on the recent drop in the price of oil. We likened the move to a rock thrown into a pond and cautioned against reaching for the falling knife.
December 11, 2014
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Don't try to catch a falling knife: Reflections on the current price of oil (part 1)
The price of oil has fallen precipitously in recent months. WTI now trades at around $67 per barrel, a far cry from the $100 level attained this past summer. The move is akin to a large rock dropping into the investment pond: we expect ripple effects.
December 5, 2014
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Lesson of 1909
Last week was a productive one for diplomats. Not only did the U.S. and China sign a landmark climate change accord, the two mega-powers also established military guidelines to govern the contested waters off China and agreed to reduce technology tariffs.
November 19, 2014
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Looking beyond borders: Why Europe isn't dead
I recently had a discussion with a client that had just returned from a European vacation. He shared stories about the interesting food, culture, and architecture. But he also offered a warning… “The economy in Europe is dead.”
October 30, 2014
-
Frogs in the pot
A few weeks ago I attended a lunch with Jean-Claude Trichet. As one might expect from the former head of the European Central Bank, Trichet spoke at length on the economy, quantitative easing and monetary policy. However, what was pleasantly surprising was his candour.
October 10, 2014
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What we know from marshmallows: The relationship between self-discipline and success
In 1968, researchers from Stanford University stuck a marshmallow in front of a four year old girl and gave her a choice: eat the marshmallow now or wait 15 minutes and receive TWO marshmallows.
September 11, 2014
-
Worrying signals for Russia’s economy
Two important events involving Russia occurred in the last week. First, Russia amassed a highly suspicious buildup of 20,000 troops on the Ukrainian border. Second, Russia’s yield curve inverted.
August 8, 2014
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Skating over the line
Narrow rules have a cost. Although there is value in the clarity of rule, process and position, a system must also be flexible.
July 29, 2014
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Language matters
Just how important is a common language to investing? While some investors view it as the sort of soft, fluffy stuff best left to liberal arts majors, empirically—and in our experience— it is an essential feature of high performing investment teams.
July 24, 2014
-
The toothbrush test
A few weeks ago, I was introduced to Google’s Toothbrush Test. Contrary to the images that the name inspires, this test does not involve sticking a web-enabled toothbrush into your mouth to collect data on your molars. Instead, it relates to how Google allocates capital.
July 11, 2014
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Look for the baby
This past week, one of my colleagues shared a learning at our weekly research meeting. Christian and his wife, Siggi, were on vacation when Siggi unfortunately dropped her iPhone into the bath.
July 10, 2014
