How is a stock like an equity bond?

Warren Buffett described his philosophy of viewing stocks as ‘equity bonds’ in a 1977 Forbes magazine article and subsequently in a speech at Columbia Business School.  In her book, Warren Buffett and the Interpretation of…

Think like a hedge fund manager

I’ve been on an investing book kick lately, and I recently read Joel Greenblatt’s classic (from the 90s), You Can Be A Stock Market Genius.  Michael Lewis mentioned the book more than once in The…

Why do wages rise in a recession?

This morning, Rutgers University released its Labor Scorecard, which confirmed the high unemployment figures published by the Labor Department earlier this week.  Someone in the PR department at Rutgers caught this report on its way…

Top 14 Financial Resources on the web

Special thanks to Andrew, and to our Economics Editor for their contributions. Real Clear Markets Topics and discussions of market-related news from the world of business, economics, finance, and the political economy. Financial Times The…

Is book value meaningless?

In Warren Buffett and the Interpretation of Financial Statements, the price to book ratio is not presented as a particularly useful metric for investors.  But studies show that stocks with low price to book values,…

Do we need a corporate honesty index?

It’s Sunday, and the talk shows are all aflutter over AIG’s plans to pay $165 million in bonuses, even as the ink has yet to dry on its $170 billion bailout check. Former US Treasury Secretary Larry Summers says the governments hands are tied. Are our hands tied as well?

Philip Fisher: Warren Buffett’s lesser-known mentor

After reading Mary Buffett’s excellent book on securities analysis, I summarized the major things that Warren Buffett seems to look for in a stock. That book focused primarily on Buffett’s lessons learned from Benjamin Graham, but Buffett’s investment strategy was also influenced heavily by the lesser-known Philip Fisher.