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Incorporate Macroeconomic Conditions in Value Investing

Came across two video snippets of an interview with Howard Marks from Oaktree Capital Management. Buffett had famously shared that he doesn’t consider¬†macroeconomics when making his investment decisions. Howard Marks in the videos however advocated keeping tabs on the “market’s temperature” and adjusting one’s aggressiveness based on that. Why You Should Look at Macroeconomics It … Continue reading

Notes from Martin Whitman’s Interview with

Just watched a video of an interview with Martin Whitman by (link here). The interview was originally broadcasted on October 24, 2013. Conventional Approach Over-Emphasizes Four Things Earnings Short-term Top-down analysis Efficient market Martin Whitman’s Investment Criteria Don’t acquire common stock unless the company has a super strong financial position. Don’t invest in common … Continue reading

Book Review of Navigate the Noise by Richard Bernstein

The full title of this book is¬†Navigate the Noise: Investing in the New Age of Media and Hype by Richard Bernstein (2001). Richard Bernstein was Chief U.S. Strategist at Merrill Lynch. I got to know about this book after I saw some of the old pieces from Bernstein while he was at Merrill, and googled … Continue reading

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