Why does inflation tend to be good news for value investing? March 17, 2017 ‘Value investing’ has been resurgent since last summer, as explained here. Inflation can help this type of investing. Kevin Murphy, an author onThe Value Perspective blog, explains why. At the very end of last year, in our post Three important investment lessons to take from 2016, we noted in passing that President Trump’s intention to [...]
Will ‘value investors’ win in 2017? January 24, 2017 Value investing, the discipline made famous by the legendary investor Benjamin Graham in the 1930s and 1940s, fell out of favour after the global financial crisis. Investors have instead preferred to pay a premium for more dependable stocks rather than back those unloved by the market. That trend may be turning around. What is [...]
Three important investment lessons to take from 2016 January 5, 2017 Did anybody anywhere in the world put an accumulator bet on the UK voting to leave the European Union, Donald Trump winning the US presidential election and Leicester City winning the Premier League? The bookmakers believe not and you’d think they might have noticed – after all, these events were considered so unlikely that [...]
Three important investment lessons to take from 2016 January 5, 2017 Did anybody anywhere in the world put an accumulator bet on the UK voting to leave the European Union, Donald Trump winning the US presidential election and Leicester City winning the Premier League? The bookmakers believe not and you’d think they might have noticed – after all, these events were considered so unlikely that just [...]
Why this is a disqualifying offence for a value investor December 9, 2016 Some people apparently just will not be told. While past performance is no guide to the future, despite all the evidence a value-based approach outperforms over time, investors’ money is increasingly clustering in more non-value-oriented offerings – sometimes known as ‘growth’ but probably more accurately called ‘momentum’ funds. The current situation is starkly illustrated by the following [...]
Bank shares and stress tests: the value investor’s verdict December 8, 2016 The Bank of England’s latest stress tests of the UK banking system attracted many column inches of space in the newspapers last week. The aim was to calculate whether these institutions would have enough capital to withstand certain grim scenarios. Moving away from some of the inflammatory headlines, it is worth looking in more [...]
Bank shares and stress tests: the value investor’s verdict December 8, 2016 The Bank of England’s latest stress tests of the UK banking system attracted many column inches of space in the newspapers last week. The aim was to calculate whether these institutions would have enough capital to withstand certain grim scenarios. Moving away from some of the inflammatory headlines, it is worth looking in more detail [...]
