Whitman Finding Bargains through Graham & Dodd, with a Twist

The Financial Post of Canada takes an interesting look today at the Benjamin-Graham-esque approach that longtime market-beater Marty Whitman uses to pick value stocks. According to The Post’s Levi Folk, Whitman’s strategy is based on the “net-net” approach that Graham and David Dodd laid out in their 1934 classic Security Analysis. (Net-nets are firms whose […]

Gross: Investing “Revolution” Is On

In his April market commentary on PIMCO’s web site, bond guru Bill Gross says that we’ve entered a new world of economics and investing, one in which “there should be no doubt that the bull markets as we’ve known them are over and that the revolution is on. Investing is no longer child’s play.” Gross […]

Stocks for The Long Run — Riskier than Stocks for The Short Run?

In his latest column for The New York Times, Mark Hulbert highlights an interesting new study that examines the concept of long-term risk in the stock market. The study, performed by University of Chicago Booth School of Business Professor Lubos Pastor and Wharton School Professor Robert F. Stambaugh, questions whether the concept of mean reversion […]

Tilson Turns Bullish on a Few Financials

Whitney Tilson, whose calls about the housing bust, financial crisis, and huge government bailout have proved prescient over the past year, tells CNBC that after making a bundle shorting financial stocks he’s now finding some good long opportunities in the sector. “Valuations have compressed so much we actually flipped around and went long some financials […]

Top Timing Newsletter Turning Bullish

The Cabot Market Letter — one of the top-performing newsletters of the past decade — is moving back into stocks, seeing the odds as “increasingly good” that the market has bottomed. “We’ve had the snapback; we’ve had the rally,” Michael Cintolo, the newsletter’s editor, wrote yesterday. “And while a technical correction is quite possible from […]

What to Expect from Here

How quickly will stocks rebound when the current bear market ends (if it hasn’t already done so)? The New York Times’ Paul Lim offers some interesting data on that subject in his most recent column. Citing data from James B. Stack, editor of the InvesTech Market Analyst newsletter, Lim says that after the nasty bear […]

Fisher: Fears are Greater, but Risk is Lower

In his latest Forbes column, Kenneth Fisher offers advice for those who feel like the stock market is too risky a proposition right now. “This is not an irrational fear; stocks that are off 50% from their highs (and a lot are, at this point) can keep falling,” Fisher writes. “But you can temper your […]

Good Quant, Bad Quant

MarketWatch’s Paul Farrell recently offered up a scathing critique of “quants”, complete with this eye-catching subhead: “By Predicting Your Behavior, Quants Control Your Mind, Money, the Markets”. Since I run what could be considered “quantitative strategies” both on my web site, Validea.com, and in my money management business, I was interested to see what Farrell […]

Buffett, Berkshire Focusing on U.S.

Warren Buffett tells Bloomberg that the odds are his Berkshire Hathaway — still on a buying binge — is more likely to make its next acquisitions in the U.S. rather than abroad. “The statement is a reversal for Buffett, who spent four days at press conferences and meetings in Switzerland, Germany, Spain and Italy last […]

Kass: It’s Dinner Time

TheStreet.com’s Doug Kass — a pretty hardened bear whose stance began to soften last month — is now standing firm in his call that we’ve reached a bottom. “We live in a Land of Johnny-Come-Lately Chicken Littles, most of whom failed to identify the credit and economic risks 1½ years ago but who today hold […]

Hussman: Good Values, but No Bottom

John Hussman, whose Strategic Growth and Strategic Total Return funds were some of 2008’s best, is warning that major volatility may soon return to the stock market. “I suspect that the markets are about to get volatile, possibly to an extent beyond what we observed in October and November,” Hussman wrote in his latest market […]

Tilson & Heins: How You Can Be a Stock “Lion” Like Templeton

Barry Ritholtz isn’t the only successful manager saying investors should be making “watch lists”. In their latest “Discovering Value” column for Kiplinger’s, Whitney Tilson and John Heins say that maintaining a watch list of stocks you’re interested in is a key to good investing. “The stock market rarely offers truly exceptional buying opportunities, so it […]

Ritholtz: Time for a Wish List

Barry Ritholtz of The Big Picture blog and FusionIQ is the latest well-known bear to turn bullish, notes Yahoo! TechTicker. In an interview with Aaron Task of TechTicker, Ritholtz says that the market has reached levels at which he’s seeing a lot more upside than downside. “If you’re a long-term investor, at the very least […]

Even Buffett Makes Mistakes — and You Can Learn from Them

In his latest Wall Street Journal column, James B. Stewart examines some of the mistakes Warren Buffett acknowledged making in Berkshire Hathaway’s 2009 letter to shareholders, and explains what average investors can learn from “The Oracle of Omaha’s” mistakes. Most interesting is Stewart’s discussion of Buffett’s decision to buy $7 billion in ConocoPhillips shares last […]