Thanks for the Canadian coverage, Dale. I always appreciate seeing it on SA, and hope to add to it myself. As a Canadian investor, I think the issue is sometimes limiting exposure to the Big 5 to maintain diversification because they loom so large in the market and ETFs. Obviously, it's hard to complain about their historical returns, but the concern moving forward is about growth (and a possible housing bubble, as you point out).
Apple's Innovation Is Stronger Than Ever, Valuation Very Attractive [View article]
Maybe Apple needs to come out with a new underdog brand that positions itself in opposition to Big Apple :) In the vein of this article, perhaps they could target people who appreciate technical elegance, which would depart from their current marketing focus on holistic design, ease of use, and ecosystem experience.
Evertz: A Canadian Technology Company With A High Growth Dividend [View article]
Hi Paul:
Yeah, their investor relations page is conspicuously absent. I rely on SEDAR for their financial info: http://bit.ly/Tqt69d. There's a link at the bottom of the page to their publicly filed documents.
For Higher Returns, Avoid These 2 Investment Biases [View article]
Thanks for sharing your reverse prospect theory, Tack! I think what's most important is the idea you shared about re-visiting your original investment thesis (regardless of whether it is up or down), in a way that is as 'objective' as possible. It's about trying to avoid that anchor of your original entry point (the point of reflection).
Regarding the unattributed quote: "Stocks are the only thing people want less of when they become cheaper." I take your point, although (tangent here) there are other things that people want less of when they're cheaper: Veblen goods (http://bit.ly/OxLMl5). Not that I own any of them ;)
For Higher Returns, Avoid These 2 Investment Biases [View article]
Ron, you're taking on a large swath (and over a century worth of research) of the social sciences with your comment on generalities. Many would argue that these theories are conditionally-bounded (i.e. by social, cultural, and other psychological factors), but that they do generalize in a meaningful way beyond a population of one.
Watsa has obviously had a successful career. While this might imply that he hasn't suffered from these biases in judgment, it doesn't mean that he's not susceptible to them or that he might fall prey to them in the future. Remember that he doubled-down on his investment in RIMM, which is risk-seeking behavior in a loss position.
For Higher Returns, Avoid These 2 Investment Biases [View article]
Thanks, Kenneth. Confirmation bias is definitely another one to remain vigilant about. SA can often help by offering a greater breadth of information (pro and con), but it's still up to us to interpret and weight each in a fair way, which can be a challenge.
Facebook Q3 Earnings Preview: Recapturing Control Of The Narrative, And What Needs To Be Said [View article]
I very much agree with the previous comments - great article! Thanks for the thoughtful write-up. I'm not entirely convinced that they'll be able to change the narrative with one earnings release, but restoring investor confidence needs to start somewhere.
Gambling With Investments, An American Pastime [View article]
Did you reference Stroman knowing that he is now facing a 50-game suspension for a positive drug test? (http://bit.ly/Q3KI5U). If not, I think that offers some nice support for your argument of going with what you know.
The One Stock Portfolio [View article]
The One Stock Portfolio [View article]
McCormick Is Spicy [View article]
Apple's Innovation Is Stronger Than Ever, Valuation Very Attractive [View article]
Apple's Innovation Is Stronger Than Ever, Valuation Very Attractive [View article]
How Oil Really Gets Priced [View article]
Shhh! My Secret Valuation Model Revealed [View article]
A Valuation Model For Those On A Tight Schedule [View article]
Evertz: A Canadian Technology Company With A High Growth Dividend [View article]
Yeah, their investor relations page is conspicuously absent. I rely on SEDAR for their financial info: http://bit.ly/Tqt69d. There's a link at the bottom of the page to their publicly filed documents.
Thanks for reading!
For Higher Returns, Avoid These 2 Investment Biases [View article]
Regarding the unattributed quote: "Stocks are the only thing people want less of when they become cheaper." I take your point, although (tangent here) there are other things that people want less of when they're cheaper: Veblen goods (http://bit.ly/OxLMl5). Not that I own any of them ;)
For Higher Returns, Avoid These 2 Investment Biases [View article]
Watsa has obviously had a successful career. While this might imply that he hasn't suffered from these biases in judgment, it doesn't mean that he's not susceptible to them or that he might fall prey to them in the future. Remember that he doubled-down on his investment in RIMM, which is risk-seeking behavior in a loss position.
For Higher Returns, Avoid These 2 Investment Biases [View article]
Facebook Q3 Earnings Preview: Recapturing Control Of The Narrative, And What Needs To Be Said [View article]
Understanding Carl Icahn's Oshkosh Strategy [View article]
Gambling With Investments, An American Pastime [View article]