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
Jul 31, 20214 min read
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, 20193 min read
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
Sep 30, 20195 min read
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
May 31, 20195 min read
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
Mar 31, 20145 min read
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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Where's My Cycle?
An update on where I think we are in the business cycle with respect to growth, inflation and markets
Correlation or causation?
Data is too often presented in an unfair, unclear and misleading way
Dear John
Liontrust's John Husselbee's arguments in support of balanced funds are lame
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