Journal to portfolio afterlife

[portfolioafterlife]

US Recession Risk May Be Rising, But Growth Still Prevails | The Capital Spectator

 

[portfolioafterlife]

There is a quote attributed to Ben Graham that says that the market is a voting machine in the short run and a weighing machine in the long run. What that essentially means is that flows can drive short run stock performance, but we would expect the true value of a business to be what matters in the long run. Although I agree with the theory of that quote. I think it needs some revision to be more accurate. The correct way to look at it in my mind is a lesson I learned from Ben Hunt at Epsilon Theory. That lesson is that the market is always a voting machine. In other words, flows will always drive stock prices. The reason it becomes a weighing machine eventually is that we would expect rational actors who are creating those flows to eventually care about the underlying value of the company the flows are going into and out of.

The Importance of Flows – Validea's Guru Investor Blog

By Jack Forehand, CFA, CFP® (@practicalquant) — I am a fundamental investor. I like to look at the value of a stock in the same way I would look at any business. Ultimately, that value should be a function of the future cash flows the business can generate discounted back to the present using an...

blog.validea.com

 

[portfolioafterlife]

Boh, se le crypto fossero salite credo che la penserebbe diversamente.

I lost money in crypto so that you don't have to!

One morning just over ten years ago, I had an interesting conversation at the Crossfit gym. I was "rolling out" — using a foam roller to break up tissue —

www.getrichslowly.org

 

[portfolioafterlife]

Lessons From 2022’s Tech Stock Collapse

It may not feel good, but it’s actually a healthy selloff.

www.morningstar.com

 

[portfolioafterlife]

What kind of financial asset is Bitcoin?

Is it money? Digital gold? A tech stock? Recent events shed some light on the question.

noahpinion.substack.com

 

[portfolioafterlife]

Value Investing: Headwinds, Tailwinds, and Variables

Investing is no different. A question we regularly get in the current environment is "How does inflation affect value stocks?" Well...it depends. I could show you some data on how value stocks did in the 70's (period of high inflation) versus how they did in the 90's (low inflation). But if WW3...

alphaarchitect.com

 

[portfolioafterlife]

 

[portfolioafterlife]

 

[portfolioafterlife]

 

[portfolioafterlife]