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Archive for the ‘Investment Strategy’ Category

Stock market bubbles under the microscope

My thanks to Tim du Toit, founder of EuroshareLab, an excellent Europe-wide stock screening service, for alerting me to this interesting and sensible academic perspective on stock market bubbles – how to measure them, what to think about them, how to react to them.  The author is Aswath Damodoran, a professor at the Stern School of Business at New York University.  His article includes a number of spreadsheets which readers can usefully adapt to make their own calculations of PE ratios and future returns.

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Interview with Terry Smith

Terry SmithTerry Smith, the CEO of Tullett Prebon and founder of Fundsmith, was in top form when I interviewed him last week. An edited version of our conversation, which covers a range of topics, including the global economy, the impact of QE, current market valuations and stocks in the Fundsmith portfolio, appears in today’s issue of Money Week. If you are interested in reading the full length version, you can find it on the Independent Investor website. Simply follow the link to Money Week articles on the right hand side. Sample quote: “I’m not convinced there is a recovery – certainly, not of anything like the magnitude that people say there is”.

Written by Jonathan Davis

November 1, 2013 at 12:14 PM

Two events in October

Two events in my diary which you may be interested in. (1) Face to Face with John Kay: Martin Vander Weyer, Business Editor of The Spectator, and I are hosting an hour-long session of Q and A /debate with the prominent economist, author and FT columnist John Kay in London on October 22nd, starting at 8.45 am. Topics to be covered include banking reform, monetary policy/QE, the future of the Eurozone and investment strategy in an uncertain environment. More details here and ticket information from the Capital Briefings website. (2) The Ten Commandments of Investment Success: I am teaching a two hour seminar on the principles of successful investment on October 24th at 9am, also in central London, organised by the How To Academy. You can find out more by clicking on this link from the Academy website. This is something that I have been working on for a little while and hope to repeat at other venues in future.