Porter & Co.
What every investor should know about return on equity (“ROE”), one of Warren Buffett’s favorite metrics (from The Investing for Beginners Podcast via X on October 17)…
Warren Buffett loves Return on Equity (ROE). But every ratio or formula has its pros and cons. ROE is no different. Here are 5 pros and 5 cons ⬇️ Return on Equity (ROE) is a financial ratio that measures a company’s profitability and efficiency by assessing how effectively it utilizes shareholders’ equity. We can measure
Wisdom from top international value investor Dan O’Keefe (from John Rotini Jr via X on October 20)…
Here are 5 pages of quotes from my recent podcast with Dan O’Keefe (two-time Morningstar International Stock-Picker of the Year). Read them and let me know which one is your favorite…The one that resonates most with you or the one that is getting you thinking the most. Continue reading here.
Value legend Seth Klarman’s “forgotten lessons” from the 2008 Great Financial Crisis (from Farnam Street via The Idea Farm on October 22)…
In this excerpt from his annual letter, investing great Seth Klarman describes 20 lessons from the financial crisis which, he says, “were either never learned or else were immediately forgotten by most market participants.” * * * The Forgotten Lessons of 2008 One might have expected that the near-death experience of most investors in 2008
Small-cap stocks are becoming historically cheap (from Royce Investment Partners on October 2)…
Equities Struggle as Yields Climb in 3Q23 The major U.S. stock market indexes were down across the board in 3Q23, thanks to a combination of revived recession warnings, rising yields, and a looming government shutdown. The 10-Year Treasury yield rose to 4.6% in September, climbing by more than 20.0% in 3Q23 to its highest rate
Billionaire distressed-debt investor Howard Marks believes it’s time to invest in credit again (from Oaktree Capital’s Memos from Howard Marks on October 11)…
In May, I wrote a follow-up memo to Sea Change (December 2022) that was shared exclusively with Oaktree clients. In Further Thoughts on Sea Change, I argued that the trends I had highlighted in the original memo collectively represented a sweeping alteration of the investment environment that called for significant capital reallocation. This memo was