Value Investing Odyssey

Since updating the Experience section of my LinkedIn profile I have received several requests along the lines of “can we work on investment ideas together?“, “can we share investment ideas?” and “would you like to be paid money for your investment ideas?” and each of these requests have been met with a polite (hopefully) but firm (necessary) “no thank you“.  Since I would like to discourage such requests in the future, I will share several reasons why I have the…

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The following is a simple (if I did a good job explaining it) math lesson on how to calculate important multiyear metrics used to measure asset manager or portfolio performance.  These are compound annual growth rate (also known as CAGR) and compound return (also known as cumulative return).  Say you have a fund that reports total returns for the past three years (and you trust the firm and its numbers): Year1 = 16%                                         Year2 = 25% Year3 = -4% Convert…

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