Podcasts of the Week: Tisch, Rothman & Brown

By Jack M. Forehand —  With so many great investing podcasts out there, it can be difficult to identify the best ones. Through our new Podcasts of the Week segment, I will try to help filter out the most interesting episodes and identify the podcasts I learned the most from each week. In addition, we will also take a look at a great podcast from the past via our From the Archives section. Best Episodes This Week David Tisch – Invest Like the Best – 9/19/2017 As an investment advisor, I get lots of exposure to public companies and methods […]

Factor Strategy Focus – Benjamin Graham

By Jack Forehand — When we started following guru-based models, the term factor investing didn’t exist. We just wanted to find a way to outperform the market, and we realized that only a very small group of investors had successfully done that – and we certainly weren’t in that group. So we decided to follow investors who had long-term records of beating the market and whose strategies could be quantified. We read their books and research papers to try to find out how they did it. We researched strategies by legendary investors like Warren Buffett, Ben Graham, and Peter Lynch, […]

Podcasts of the Week: Dalio, Bass, Gardner & Egan

By Jack M. Forehand — As I discussed in my Best Investing Podcasts article last week, podcasts have become a great source of investing knowledge for me. The format allows for conversations with much more depth than traditional mediums like TV and radio and I tend to learn at least one thing I didn’t know before from each episode. Given that there are many podcasts, and most people lack the time to listen to all of them, I will be featuring my favorite episodes each week here, in addition to some of my favorite episodes from the past via the […]

What A 238 Mile Sailboat Race Can Teach About Investing

By Jack M. Forehand —  I have raced sailboats since I was 12 years old. It has always been a passion of mine. The combination of being on the water while doing something competitive at the same time has always been a big draw for me. Over Labor Day weekend, I competed in the Stamford Vineyard Race on a friend’s boat Threebeans. The race includes many exhilarating moments, but also significant down time, and during those down periods, I couldn’t help but think about all the parallels between what it takes to do well in a race like that and […]

The Best Investing Podcasts

By Jack M. Forehand — I have to admit, I am not an avid book reader. That statement alone may doom me to a life of below average returns since almost all historically successful investors read an enormous amount (Warren Buffett advocates reading 500 pages a day). I do read occasional books, including the books of the gurus we emulate and also read many white papers, blog posts, investing articles etc., but I certainly don’t read as many books as the investors I look up to. For me, it’s easier to process information when it is presented in audio or […]

The Pros and Cons of the Shiller P/E Ratio

By Jack M. Forehand — The Shiller P/E (CAPE) Ratio has become one of the most widely followed market valuation metrics.  It became popular during the Technology bubble in the late 90s because it provided a unique perspective on how overvalued stocks had become during that high flying period. The Shiller P/E has been popularized by Robert Shiller, a Yale University Professor of Economics and Noble Prize winner. Shiller is the author of a number of top selling books, including “Irrational Exuberance.” The Shiller P/E is also often referred to as the CAPE ratio, or the Cyclically Adjusted P/E. The […]

There’s One Investing Edge Left – And Anyone Can Capitalize On It

By Jack M. Forehand —  “In investing, what is comfortable is rarely profitable.” – Rob Arnott Wall Street has become an incredibly difficult place for anyone to get an edge. With technology taking over the market, any small mispricing is typically corrected very quickly. And talent within the industry is also as good as it ever has been. Over 17,000 people were awarded CFA charters following the most recent exam. That is more than double what it was 10 years ago and triple what it was 20 years ago. The result is that outperforming the market has become incredibly difficult. […]

A Practical Approach to Quant Investing

By Jack M. Forehand — This is the first post in a new series we will feature on the Guru Investor that will take an in depth look at quantitative and rules-based investing, and models and strategies that work in the market over the long-term. At Validea, we have been running rules based strategies since 2003 and over the years, we have learned many things about what works, what doesn’t, and how to interpret it all from the perspective of a long-term investor. I will share those insights in this new blog column. Before we begin, it is important to […]