Valuing the Essential Nature of Stuff
There is a remarkably simple test for whether something has intrinsic value
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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Peter Elston
- Aug 1, 2021
- 4 min
Boom and Bust
Speculative bubbles – famous examples of which are tulips in the 17th century, the South Sea Company in the 18th, British railways in the...
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Peter Elston
- Nov 1, 2019
- 3 min
The Indiscriminate Inflow Threat
Michael Burry, the doctor-turned-hedge fund manager who foresaw the bursting of both the tech and subprime bubbles, has just revealed...
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Peter Elston
- Oct 1, 2019
- 5 min
Active Management and the Predictability of Markets Redux: Didier Sornette
This is the third in a series of four posts dedicated to the subject of financial market predictability. In this month’s letter, I look...
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Peter Elston
- Jun 1, 2019
- 5 min
Edge, Paradox, Bravery and the Stock Market
I have written in the past about the Kelly Betting Criterion, named after the Bell Laboratory researcher John L. Kelly. In short, ‘the...
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Peter Elston
- Apr 1, 2014
- 5 min
Active Management and the Predictability of Markets – Didier Sornette
These recent posts on the subject of active management have sought to distil the work of those who have found pattern in asset prices and...
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