Berkshire Hathaway’s annual letter to shareholders has included pages on the stock market and where it’s headed in previous years. This year? Silence.FORTUNE — The Oracle of Omaha’s crystal ball must be cloudy these days.In Warren Buffett’s annual letter to Berkshire Hathaway (BRKA) shareholders, released Saturday morning, he says little about the stock market or where shares might be headed. […]
Pope Brar is a money manager based on the West Coast who has spent a considerable amount of time analyzing the success (as well as the failure) of some of the greatest investors.
Brar has carefully examined the records of such legendary investors as Warren Buffett, Seth Klarman and others to see what they have done to achieve such success over […]
I have recently noted that I am concerned about the level of stock prices these days.The main reason for this concern is that every predictive valuation measure (emphasis on predictive) I look at suggests that stocks are drastically overvalued.As many smart analysts have pointed out, valuation is useless as a near-term market-timing tool: It tells you nothing about what stocks […]
Not a Time to Time the MarketAmerican business will do fine over time. And stocks will do well just as certainly, since their fate is tied to business performance. Periodic setbacks will occur, yes, but investors and managers are in a game that is heavily stacked in their favor. (The Dow Jones Industrials advanced from 66 to 11,497 in the […]
I like this list from Dougie:Debt is cheap.
Debt is plentiful.
There is the egregious use of debt.
A new marginal (and sizeable) buyer of an asset class appears.
After a sustained advance in an asset class’s price, the prior four factors lead to new-era thinking that cycles have been eradicated/eliminated and that a long boom in value lies ahead.
The distance of valuations from […]
