Transocean, Inc. — A Case Study of Risk and Reward

The current issue of Barron’s has a feature story by Andrew Bary, Crude Calculations, that points investors to the group of offshore drillers, two of which, Transocean, Inc.(RIG) and GlobalSantaFe Corporation (GSF), we own both for individual clients and in our funds.  Let us look first to Bary’s observations.  We will then compare that to […]

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Quantifying the Story at Amgen, Inc.

Investors interested in the stock of Amgen, Inc. need to make an assessment of risks and returns.  To do so first requires clarifying the confusing results of various tests of one of their lead products, Aranesp. Background A little background will help to sort this out.  I have read and understand the various technical reports, […]

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Getting the Most from A Dash

Someone suggested that I use a program that shows whether people actually follow links.  OK, most do not. My approach is much different from most daily financial or trading blogs.  I read them, and you should too.  We feature these recommended sites.  They often find articles that I would miss.  Brett Steenbarger, our friend at […]

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When Fundamentals and Perceptions Collide

What action is right when market perceptions conflict with fundamental valuation methods? Let us put aside whether our valuation or the market perception is correct, and turn to the interesting case where there is conflict between the two. For Warren Buffett or other Benjamin Graham followers the question is easy.  They recommend buying businesses that […]

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