The Death of Active Management Has Been Greatly Exaggerated
For the year ending December 31, 2021, passive mutual funds and ETFs reported estimated net inflows totaling $958.43 billion, compared to estimated net inflows totaling $249.91 billion for actively managed funds.
GARP Stocks: Common Sense in an Age of False Narratives
This post explains why we believe GARP Investing may be another powerful way to protect and grow capital amid a speculative frenzy that appears to be on its way out.
Maintaining a Margin of Safety in Your Investment Process
In June of 2021, KCR’s Equity Research Team wrote a brief but pointed review of the legendary treatise on value investing, A Margin of Safety by Seth A. Klarman.
ARKF Dividend vs. XLF Dividend: To Pay or Be Paid
We don’t think this is complicated. Do you want to pay to own expensive stocks or get paid to own cheap ones?
Are Clean Tech Stocks a Short?
Will Consensus on Electric Vehicles, Solar and Wind Crush Investors? How similar is cleantech today to 1999?
Speculation & Margin of Safety Value Investing
The first chart shows that the market cap of firms trading at over 20x sales has hit $4.5 trillion. This is another example of the reckless speculation underway today. Please read on to see how these speculative 20x price-to-sales firms did post the dot.com bubble and how they look today.