At one time or another, every country could have been classified as “emerging.” Back in the 1800s, the Western part of the United States was called the “new frontier.” Investors purchasing farmland there were likely to consider it a highly speculative venture putting stakes in such a rugged and wild place.
Every first quarter of the year, the Spanish firm Bestinver Asset Management holds its annual meeting with investors. This year, the meeting had to be postponed until 16 April (from 4 March) because of administrative problems with the venue where it was originally scheduled to be held. The event is a small-scale replica of the Berkshire Hathaway meeting, but it is large enough to fill a 3,000 seat theater in IFEMA, Madrid’s main convention center, and includes an unlimited Q&A [...]
In the face of mixed economic data and at a critical inflection point in Federal Reserve policy, the stock market, heading into 2014, resembles a Rorschach test. What investors see in the inkblots says considerably more about them than it does about the market.
Over the past few weeks, we’ve seen significant volatility in the markets, which has spooked some investors, but is also something we have become accustomed to. Markets generally (not only emerging markets) have become much more volatile during the last 20 years as a result of massive flows of money from not only institutional investors and long-only mutual funds but also hedge funds and high-frequency trading. We see such sell-offs as potential opportunities to pick up bargains in select stocks if, in [...]
Almost anyone can agree with the basic tenets [of healthy living] – eating more vegetables, choosing only clean, organic meats, and getting plenty of sleep and exercise is fairly acceptable to the mainstream notion of good nutrition. The concept of Grok and a lifestyle based on evolutionary biology can be a harder sell, but anyone who’s familiar with (and accepts) the basics of human evolution tends to agree (whether they follow through and adopt the lifestyle is another question), at [...]
In Western society, the prevalence of a hypercaloric diet consisting of a high sugar intake and highly processed foods coincided with an exponential rise in diabetes and metabolic syndrome as well as cardiovascular diseases and cancer. Evidence emphasizing the unfavourable effects of ‘irresponsible eating’ is emerging in regards to the big three Western diseases . . . cardiovascular disease, diabetes and cancer. Recent evidence has emerged supporting the connection between dietary intake and cognitive health, particularly in regards to the ageing [...]
Beaten-down markets have been a boon for Baupost, which has become the sixth-largest hedge fund in the United States and a force to be reckoned with. Seth Klarman, president and portfolio manager of 28-year-old Baupost Group, is considered the dean of value investing among hedge fund pros, and such a devotee of Benjamin Graham and David Dodd that he was the lead editor to the reissue of their classic, “Security Analysis,” in 2008.