Market Environment
At Alhambra, as Joe Calhoun wrote last month, we embrace the merits of both value and momentum in investing. The decision to buy value or momentum, though, should not be made in isolation. At Alhambra, our tactical strategies embrace long term investment solutions which incorporate value and momentum decisions based, first, upon our analysis of .. read more
Value vs Momentum
I’ve been in this business for a long time and this paper confirmssomething I’ve observed throughout my career: There are two primary and distinct techniques of asset management: momentum and fair value. Momentum investors (‘the trend is your friend’) ignore fundamental value and follow the money, buying when prices are rising and selling when they .. read more
NFLX: Anatomy of a Momentum Stock
Prior to joining Alhambra Investment Partners, I sold my remaining Netflix (NFLX) shares at $248 a share. I guess I should preface this note by saying that I have been NFLX subscriber since 2004 and I love the service. I have no personal vendetta against the company or it’s management, but after spending the weekend .. read more
