When a company gets acquired, shareholders usually get cash. Simple. But sometimes they get a strange basket of securities – preferred stock, warrants, debentures, contingent value rights. Things with long names that nobody wants to understand. And that is exactly where the money is.
When corporation splits itself in two, Wall Street panics. Institutions dump shares they do not understand. Index funds …
Most investing strategies sound complicated. Hundreds of variables, proprietary screens, neural networks, teams of PhDs …
Every company tells a story with its financial statements. Problem is, some companies are better at fiction than others. …
When you line two companies up side by side, truth becomes hard to ignore. One looks expensive. The other looks cheap. …
There is a trick that experienced engineers use when evaluating two competing technologies. You do not look at each one …
One of the most useful exercises in investing is putting two similar companies next to each other and asking a simple …
Here is something that always hits me hard. There was a moment when a young boy walked into a bank to cash a check for …
Look, before Warren Buffett became Warren Buffett, he learned everything from one guy. Benjamin Graham. The Father of …
When you manage tens of billions of dollars, you cannot buy small companies and move the needle anymore. You need …