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It’s Different this Time. Really?

Just before the 1929 Wall Street crash, celebrated Yale economist Irving Fisher claimed that the stock market had reached “a permanently...

Why Value Investors Don’t Have to Restrict Themselves to Cheap Stocks

I’m thinking about launching a smart beta ETF called the “Smart Alpha Smart Beta ETF”. It would invest only in shares that go up. At the...

Value Investing is Not the Same Thing as Value Indices

From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. I’m thinking...

Value versus growth – A misleading binary

The analytical framework set out by Benjamin Graham and David Dodd in 1934 was very intricate, whereas the constituents of value indices...

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