Hugh Young



Some industries produce more economic profit than others. How much economic profit a sector or industry tends to produce is often [...]

25 September

IN THE case of the medical or engineering professions, there is usually a precise standard for a given procedure. In the investment [...]

24 September

The efficient market hypothesis is nonsense. Markets are driven by humans, humans are irrational, thus markets are irrational. [...]

21 September

The worst reason in the world to buy something is because somebody else did. This is essentially what you would be doing if you [...]

20 September

Unless you need your money back soon, you should think long term and avoid getting caught up in the daily noise of markets. This [...]

19 September

IT IS often tempting for companies to expand capacity or even invest in areas outside their core area of expertise. One should [...]

18 September

YOU DON'T have to understand how silicon chips work to buy a silicon chip maker, but you do have to understand what they are [...]

17 September

Companies fail largely because their businesses are poorly financed. A strong balance sheet tells you many things. Most importantly, [...]

14 September

Acompany is essentially a group of people with a common goal, namely to create the best possible product at the best possible [...]

13 September

When considering a company, the first question you need answered is “who controls it?” The second is “do you trust them?” [...]

12 September