I see multiple symptoms of a dysfunctional market whereby product mechanics have displaced due diligence and resulted in widespread malinvestment.
Foregoing Due Diligence
Robo-advisors and broad market index strategies involves little to no due diligence regarding the price paid (valuation) or asset quality.
Tea Leaves: Corporate Cash Trends
This article looks at US corporate cash flow trends. My research indicates easy money is drying up and companies are increasingly getting squeezed for cash.
The (Un-)Importance of Returns
[alert_box style="message" close="no"]Here is a link to the article PDF .[/alert_box] In my last job with a large investment bank I built two global research teams and worked with high-profile clients around the globe. Having left the big leagues to start my own firm, my clients are more diverse in terms of wealth. While I…
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