200000 Vietnamese dong notes, worth less than US$10 each but more than most free financial advice

Three Ways Free Financial Advice Ends Up Costing More

Posted Leave a commentPosted in Investing, Personal finance

Some free advice is worth every penny you pay for it, but free financial advice (like free medical or legal advice) often ends up costing more than most fees. Clearly, I don’t believe all free financial advice is bad, as I often share it myself in at least two ways: A. When the advice is […]

Largest Listed Real Estate Investment Trusts (REITs) – Top 400 by Assets as of 2017

Posted 3 CommentsPosted in Investing, Lists

This is list of the world’s largest real estate investment trusts (REITs) by assets as of 2017 is based on data from public filings on the major stock exchanges we currently have access to. REITs are one of our favorite topics and sectors, and this site contains many posts listing the largest in Japan (J-REITs), the […]

Performance of Quality, Value, Momentum, and Low Volatility Strategies vs the S&P 500

Posted Leave a commentPosted in Investing, Uncategorized

I have been working with “smart beta” strategies since 2006 (before they were even called “smart beta”), and continue to believe that investing through these rules-based factors provides better risk-adjusted returns than index funds at far lower cost than actively managed mutual funds.  In GFM-managed client accounts, we continue to apply the well-researched factors, of […]

The 7 C's of How Tesla Stock Will Probably Crash (But Not Burn)

Posted Leave a commentPosted in Investing

One major landmark for 14-year-old Tesla Motors (TSLA) this year was surpassing the market cap of 109-year old blue chip US automaker General Motors (GM), despite having only sold 76,000 cars in 2016 vs. GM’s 10,000,000 cars sold, and despite Tesla continuing to lose almost $1,000,000,000 each year as GM has been posting annual profits of almost $10,000,000,000. Of course, […]

Lists of Closed-end Funds and Investment Trusts in the US, UK, Canada and Australia

Posted Leave a commentPosted in data, Investing, Lists

Although ETFs have become the exchange-traded investment vehicle of choice over the past 25 years, closed-end funds remain a relevant way to access less liquid and less scalable assets, and for this reason they are often available at a discount to their net asset value with many paying high dividend yields. As a handy reference, […]

Dividend Data Websites for 6 Major English-Language Stock Exchanges Around the World

Posted Leave a commentPosted in Investing, Web finds

In addition to market data, financial statements, and fundamental ratios, I find it very valuable to have up-to-date websites and data sources with clean information on a listed company’s dividends, both upcoming and historical.  Dividend yields on many stock information pages can be unreliable, as it is not always clear when trailing 12 months or […]

Valuation spreadsheet using Tesla as an example

Posted Leave a commentPosted in Education, Investing

There are many textbooks covering how to used discounted cash flow calculations to value an investment like a stock, but it seemed valuable to post a spreadsheet showing how this applies to projecting the implied future cash earnings of a high-growth company like Tesla Motors. Here is a link to the spreadsheet for your reference. […]

Top 50 Japanese Real Estate Investment Trusts (J-REITs) as of 2017Q3

Posted Leave a commentPosted in Investing, Lists

Japan remains one of my favorite real estate markets due to its large size, maturity, low growth expectations, and relatively high yields vs. low interest rates.  As an updated reference, here is a list of 50 of the largest Japanese real estate investment trusts (J-REITs) by market cap as of August 2017: WSJ Name Sector […]

Top 25 Euro-denominated Real Estate Investment Trusts (REITs) by Market Cap as of 2017Q3

Posted Leave a commentPosted in Investing, Lists

Continuing the lists of real estate investment trusts (REITs) by region, here are 25 of the largest ones by market cap denominated in Euros: WSJ Name Sector Country Market Cap DE/XFRA/UBL Unibail-Rodamco SE Retail France € 21,510,000,640 FR/XPAR/LI Klepierre S.A. Retail France € 11,089,999,872 FR/XPAR/GFC Gecina Industrial/Office France € 9,360,000,000 ES/XMCE/MRL Merlin Properties SOCIMI S.A. […]

7 Listed Real Estate Investment Trust (REIT) Markets Outside the US

Posted Leave a commentPosted in Events, Investing, Lists

My latest article on SeekingAlpha compares the valuation of 8 major listed real estate investment trust (REIT) markets: the US, Japan, Eurozone (mostly France), Hong Kong, Singapore, and the ABC of Australia, Britain, and Canada.  For investors overly concentrated in the property market of any one country or city, I often recommend these REIT portfolios […]