“Value Investing”In this 2016(12) Investor Lit Review we cover the great topic of “Value Investing”, beginning with: 1/ Value vs. Growth historic returns, 2/ A Reference from a great value investor - Charles Brandes , 3/ Additional References from Ontario Teachers’ on Value Investing, and 4/ A Summary of the new “Book of Value: The Fine Art of Investing Wisely". As always, we welcome our Subscribers to let us know of any comments and further questions should they wish. Membership Required.
“Investment Implications of Donald Trump’s Election”This Review provides information on investment implications of Donald Trump’s election as US President on November 8, 2016. We have based this on three publications and their articles, these being from: 1/ Mainly the “Economist”, 2/ Some comments from “Bloomberg”, and finally 3/Some additional comments from the “Globe and Mail``. We have provided websites for most of the ``Economist`` `articles in this Investor Literature write up, as that magazine has greatly concentrated on the investment implications of this event. We hope all of these topics are helpful and as always, we welcome any comments or questions. Membership Required.
"Interest Rates Outlook"Our “Interest Rates Outlook” Review provides significant update information on: 1) Bond Yields - History and Comparisons, 2) Benefits and Pensions Monitor’s “Bond Seminar”, and 3) Readings on Interest Rates. This third very good section was kindly provided by Ontario Teachers’ Pension Plan, one of our Subscribers plus an Advisory Board Member. Ten year Canada bond yields are currently at a 35 year low, going from 18% in 1981 to 1% on Sept.30, 2016. Our Review’s comparisons and commentaries are very dramatic, and we hope all are helpful to our Subscribers. As always, we welcome any comments or questions. Membership Required.
"Financial Analysts Journal " Three Recent ArticlesThis Review provides update information on three hopefully great topics, these being: 1/ ``Q Group Panel Discussion on Looking to the Future``, 2/ ``Conquering Misperceptions about Commodity Futures Investing``, and 3/``A Shiller CAPE Ratio: A New Look``. We have these based on three recent articles in the CFA Society ``Financial Analysts Journal``. As noted in this Review, we selected these for two main reasons: First, we find these are very good extensions of our previous InvestorLit Review topics, and Second, we have met and followed the authors of these articles as they are great and we very much admire and respect their work. We hope all of these topics are helpful to our Subscribers and as always, welcome any comments or questions. Membership Required.
“Updates on Review Topics”This Review provides update information on four topics, these being: 1/ Canadian Banks, 2/ Alternatives: US Private Equity, Hedge Funds, and Real Estate, 3/Oil and Gas Outlook, and finally, 4/Future Investment Conferences. As noted in previous Review updates, there are various reasons for updating these topics ranging from new information to simply updated status, and we have done various update Reviews like this in the past. Plus in this Review, we have added new topic: 4/ being a listing of Future Investment Conferences, which we hope our subscribers appreciate. We hope all of these topics are helpful to our Subscribers and as always, welcome any comments or questions. Membership Required.
“The Future of Pension Management” by Keith AmbachtsheerThis is a Review of Keith Ambachtsheer’s very good 2016 book: “The Future of Pension Management – Integrating Design, Governance, and Investing”. In our Review we begin with a history of the author, his accomplishments, and former books. We then proceed with a discussion of the book’s four parts, called: “Touchstones”, “Pension Design”, “Pension Governance”, and “Pension Investing”. And finally we add reference to another review of this book by a very good Brandes Institute friend of mine – Barry Gillman – who wrote a great review of this book recently for the CFA Society’s “Financial Analysts Journal”. Membership Required.
Notes on “Fortune 500”This is a Review of the very good latest June 15, 2016 issue of “Fortune” magazine, specifically the annual “Fortune 500” issue, which is about the ranking of the US’s 500 largest companies. It is the 62nd anniversary of Fortune’s 500 listing and after our Review in June 2014, total profits of this group have again exceeded $1Trillion. In this Review we provide notes on ten articles, all of which can be found online and we provide access to Fortune’s online articles throughout this Review. Membership Required.
Berkshire Hathaway 2016 Annual MeetingThis is a Review of Warren Buffett’s Berkshire Hathaway 2016 Annual Meeting which long-time friend John Watson very kindly invited me to again this year, following 2014’s previous great invite. The meeting was truly a very impressive, memorable and educational event and I am very grateful for the opportunity to attend. John’s guests write notes and John assembles them as “Observations”. I have included these “Observations”, plus Summary of the 2016 Letter to Shareholders, and some Related Articles that came out in the press around the time of the meeting. Membership Required.