Position Crowding and Valeant20160130204022

Position Crowding and Valeant

Mathias Mamou-ManiJanuary 30, 20163 comments
Position crowding is when a bunch of similar investors own a stock.  When those investors rush for the exits at the same time, the price drops a lot ...
The Trouble with Oil (Part Two)20160129201734

The Trouble with Oil (Part Two)

Mathias Mamou-ManiJanuary 29, 20160 comments
Two weeks ago we wrote a post on oil (The Trouble with Oil Part 1)  – why it matters to equities these days, and how the initial market response (a...
Japan & Abenomics redux20160129192454

Japan & Abenomics redux

Mathias Mamou-ManiJanuary 29, 20160 comments
Overnight, Japan’s central bank pushed short term interest rates into negative territory and pledged more monetary stimulus.  For a brief overview ...
Why Don’t Value Investors Always Buy the Dips?20160120192947

Why Don’t Value Investors Always Buy the Dips?

Mathias Mamou-ManiJanuary 20, 2016, 0 comments
In the short run, the market is a voting machine; in the long run, it’s a weighing machine. For fun, let’s assume you’re a value investor lookin...
The Trouble with Oil20160116192938

The Trouble with Oil

Mathias Mamou-ManiJanuary 16, 20163 comments
In an earlier post, we talked about market volatility when new risks move to center stage. Well, crude oil is center stage, to say the least.  Why? ...
An Excerpt from the Mid-Month Update20160115192619

An Excerpt from the Mid-Month Update

Mathias Mamou-ManiJanuary 15, 2016, , , 0 comments
Given the market volatility, we provided a mid-month update to our investors.  The following is a brief commentary on the markets: For purposes of th...
Market Psychology and the Investor Narrative20160107152634

Market Psychology and the Investor Narrative

Mathias Mamou-ManiJanuary 7, 20163 comments
History doesn’t repeat itself, but it often rhymes. So said Mark Twain, or possibly someone else, depending on whom you believe. You might say the s...