Markets are not (very) efficient

In my years as a college professor, I had more than a passing acquaintance with general investment theory.  I was interested in the subject, and did well with my personal account.  Despite this success, I believed that markets were efficient.  The Efficient Market Hypothesis had gained credence in academic circles, was taught in classrooms, and […]

Read More

An Interesting Week

Most of the writing I do is on sites exclusively for clients.  This is especially true for the analysis of specific stocks.  Sometimes a theme is also suitable for "A Dash," and tonight is such an occasion.  So here is part of my nightly investor commentary, omitting our daily result and position discussion. CNBC just […]

Read More

We’re Just Wild about Barry

The end of the calendar year provides a time for reflection, assessment, and a look ahead.  As I sort through my notes and ideas, I am acting early on the resolution to post more of them in (semi-) real time for our group.  We will still collect the various threads and provide more comprehensive analyses […]

Read More

Professors and Traders

Professors and traders are at opposite extremes of a continuum related to decision making.  Professors work very methodically and do a lot of careful research before publishing findings.  A lot of effort goes into their writing, so an article or book can take a long time.  Professors can lose reputation if they make mistakes, but […]

Read More

What’s it all about….

Why write any of this?  For the best reason:  It is in there and it wants to come out!  Some traders and investors just want to play the game.  Others, like the OldProf, are analyzing, asking why, and trying to figure out whether we were lucky or good. Mostly I am writing this for myself […]

Read More