Goldman’s “The death of value” and what being contrarian means

In Subscribers only by Cam Hui

Recently, Ben Snider at Goldman Sachs published a report entitled “The Death of Value”, which suggested that the value style is likely to face further short-term headwinds. Specifically, Snider referred to the Fama-French value factor, which had seen an unbelievable run from 1940 to 2010 (charts via Value Walk).     Goldman Sachs went on to postulate that the value ...
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How Buffett’s business empire could unravel

In Free by Cam Hui

Josh Brown had a terrific comment about the secret of Warren Buffett’s success. Buffett is unabashedly “permabullish” on America: One of the hallmarks of Berkshire’s success has been its willingness to raise or lower its formidable cash hoard in response to the presence (or lack thereof) of viable investing opportunities. One of the other hallmarks of Buffett’s approach has been …

Where I am finding value in today’s market

In Free by Cam Hui

I was playing around with Relative Rotation Graphs (RRG) on the weekend with a focus on changes in sector leadership (see my previous post RIP Recession. Reflationary resurrection next?). RRG charts measure how a stock or sector is performing relative to a benchmark on a short and long term basis as a way of better understanding the evolution of market leadership. …