mergers

What’s Worth It

By Jeffrey P. Snider|2018-09-25T17:40:07-04:00September 25th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

Earlier this year, two law professors at the University of California, Berkeley School of Law took issue with of all things Tobin’s Q. Though named for James Tobin, the idea had been introduced much earlier by several people. Tobin popularized one view of the concept. Robert Bartlett and Frank Partnoy objected to many of the contemporary uses. To judge firm [...]

Extreme Consensus

This just in: You can't take the same actions as everyone else and expect to outperform. Non consensus ideas have to be lonely. By definition, non-consensus ideas that are popular, widely held or intuitively obvious are an oxymoron. I'm convinced that everything that's important in investing is counterintuitive, and everything that is obvious is wrong. Unconventional behavior is the only [...]

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