Asset Allocation Team

Author Archive

  • Dec 13, 2021
    Everyone know about value traps but growth traps are actually worse.
  • Oct 28, 2021
    Bubbles inflict deep and cruel wounds that can last for decades, which is why we believe it is prudent to avoid them, exploit them, or dance around them as best we can.
  • Oct 21, 2021
    Every bubble is unique, but they all share common threads. Making money on companies that make no money is never a good sign when it is done this pervasively and at these valuations.
  • Aug 31, 2021
    The remarkable selloff in the merger arbitrage space over the last month has led to compelling opportunity for long-term investors.
  • Aug 23, 2021
    Stock issuance in 2021 is setting a new record, blowing away the last high set in the run-up to the Tech Bubble. This is a dubious item to celebrate, if history is any guide.