POPULAR POSTS

SoftBank’s big plan for a smarter internet is brilliant

A few months ago SoftBank Group announced that it would be raising $100 billion to invest in Son’s vision of the singularity. (That is more than the capital of the entire venture capital industry.) Singularity is the point when computer intelligence surpasses human intelligence, and Son, SoftBank’s founder and CEO, believes we are just 30 years Read more about SoftBank’s big plan for a smarter internet is brilliant[…]

Searching for Yield? Better to Look for Humility and Patience

The following is an excerpt from Investment Management Associates’ second-quarter letter to investors. The Great Recession may be over, but seven years later we can still see the deep scars and unhealed wounds it left on the global economy. In an attempt to prevent an unpleasant revisit to the Stone Age, global governments have bailed Read more about Searching for Yield? Better to Look for Humility and Patience[…]

Why do I torture my kids … with classical music?

Lately I’ve been pondering on this question. At first, it was a subconscious decision. Somewhat by inertia, I was following in the footsteps of my parents. That’s what they did, and that’s what I’m supposed to do. However, I realized recently that I am re-gifting a gift. Instilling a love of classical music is one Read more about Why do I torture my kids … with classical music?[…]

Gilead, Buy HIV, Get Hepatitis C for Free

We spent a lot of time this quarter talking to our colleagues in the investment industry, soliciting “the other side” argument for Gilead, trying to understand what we are missing about this stock. As we suspected most people cannot overcome the confluence of two business models inside one company: Gilead’s growing, annuity-like HIV business and Read more about Gilead, Buy HIV, Get Hepatitis C for Free[…]

Apple vs Coke | Vitaliy Katsenelson Contrarian Edge

Great Stock = Great Company + Great Valuation (Apple vs Coke) Valuation – margin of safety (discount to fair value) – solves a lot of global problems.  Let’s take Apple as an example.   Today Apple is mostly an iPhone company: two-thirds of its profits come from that product.  In 2014 it sold 169 million Read more about Apple vs Coke | Vitaliy Katsenelson Contrarian Edge[…]

Trump Hates Them – We Love Them

A few weeks after Donald Trump was elected president of the United States, he was asked about pharmaceuticals prices. With typical rhetorical gusto, he declared, “Pharmaceutical companies are getting away with murder.” Well, my firm has been increasing our allocation to those “murderers,” and despite Mr. Trump’s comments, we are very comfortable with our positions in the Read more about Trump Hates Them – We Love Them[…]

Why Cognizant Shines Brighter as a Stock Pick

We’ve been eyeing investment opportunities in business process outsourcing for a while; lately, our interest is on the rise because of the industry’s declining stock prices. Cognizant stands out as a shining star. Its revenue has quadrupled since 2008, and the company is growing at a faster pace than very competent competitors such as India’s Read more about Why Cognizant Shines Brighter as a Stock Pick[…]