US Index Funds adding shares to loss-making Uber and Lyft

Posted Leave a commentPosted in Investing

While there is a lot of merit to simply investing in a broadly diversified portfolio of low cost index funds, market cap weighted index funds have some features (or flaws, depending how you see it) that drive me to alternatives. One key example is this recent WSJ story highlighting how US index funds are about […]

How to beat the market: 3 factors of recent outperformance

How to beat the Market: 3 Factors of Recent Outperformers

Posted Leave a commentPosted in Investing

Perhaps second to the absolute question of how to make money in the markets, I am next most often asked if and how it is possible to “beat the market”.  When asking “how to beat the market”, one also needs to answer two parts of that question: “what do you mean by ‘the market’?”, and […]

Buffett on Kraft-Heinz

Buffett’s $2.7 billion loss on Kraft-Heinz

Posted Leave a commentPosted in News

Anand and I are long time fans and students of Warren Buffett. The recent news that the legendary investor’s firm Berkshire Hathaway lost $2.7 billion last month on their stake in Kraft-Heinz did not reduce my respect and admiration of his wisdom by even one bit, but of course drove me to ask how I […]

2019 Country valuation dashboard

2019 Country Valuation Dashboard

Posted Leave a commentPosted in data

2019 is a good year to start off with a country valuation dashboard, given how most of 2018 was a story of US stocks outperforming most other countries’ stock markets, at least until December.  Despite last month’s correction, US stocks remain relatively expensive compared to most other countries’ markets, with the US S&P 500 still […]

International Investing 2019: Some Country Stats

International Investing 2019: Country Stats

Posted Leave a commentPosted in Investing

Here is a table listing some of the best performing and worst performing country stock markets as of the beginning of December 2018, with the first two columns showing 2018 year-to-date and 3-year total returns by country respectively. The next two columns show Price/Earnings ratios and historical earnings growth statistics by country. I chose to […]

US Large Growth vs Small Cap Value, 1980-2018, by Russell Indexes

How to Beat the Market, Factor 3: Buy Small Cap Value, Not the Big “Glamour” Stocks

Posted 1 CommentPosted in Investing

For the third factor in this series, I wanted to highlight two of the most “classical” factors for classifying and selecting stocks: size (large vs small) and cheapness (growth vs value).  These factors were perhaps most famously identified by academics Eugene Fama and Kenneth French, and popularised in the 3×3 grid used by Morningstar to […]

Warren Buffett: Just looking at prices is gambling, not investing

Warren Buffett: Just looking at prices is gambling, not investing

Posted Leave a commentPosted in Investing, Web finds

Both the rise in cryptocurrencies and the volatility of stock and bond prices last month have led to many questions about whether value stocks are still a good place to invest.  Growth stocks have risen in price far faster than value stocks over the past several years, and especially last year, which was marked by […]

Be greedy when others are fearful - Facebook memory of my opportunity to buy Citigroup cheap at $1.16

Be greedy when others are fearful: Facebook reminder of the chance to buy Citigroup at $1.16

Posted Leave a commentPosted in Investing

Facebook memories rarely remind me as dramatically as this one what opportunities to multiply money can look like.  This was a clear example of “be greedy when others are fearful” that I admit I myself (regrettably) did not take advantage of.  At that time, Citigroup was priced for a very high likelihood it might go […]

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 […]

Top Brands by Country – Map of the World's Most Valuable Brands by

Posted Leave a commentPosted in Investing

My latest article on SeekingAlpha lists out the ticker symbols of the 2017 list of the World’s most valuable brands. In it, I pull out four main themes from these top brands which can be attractive basket trades: Theme #1: BRICs banks Overall, three of the top brands on the above list with relatively […]