Old School Value Nugget Fest (May 3rd Edition)

To get this kind of information and other exclusive articles before regular readers, get on the VIP Mailing List today.

Table of Contents show

Markets & Investing

Geographic diversification can be a lifesaver (Bridgewater) [PDF]
…yet most portfolios are highly geographically concentrated
Harness the power of high returns on invested capital
Five cheap companies that create value according to Elizabeth Collins: STRA, JNJ, MMM, FAST, SYY.
Hissing Sounds up North (GreenWood Investors)
On Canada’s ticking time-bomb of a housing market.
Prepay Mortgage Or Invest? Leverage & Negative Bonds (Fat Tailed and Happy)
“The calculus of comparing pre-paying this mortgage against taxable alternatives such as municipal bonds or long term capital gain rates therefore becomes massively more favorable in pre-paying a mortgage.”
Is hiring an advisor worth it? (Morningstar)
“Can advisors add enough value to justify their fees?”

Uber Questions (Stratechery)
Uber as a parody of startup culture: Cliche 1 – “We only need to get a small share of this very large market” Cliche 2 – “Skate to where the puck will be, not where it is.”

Changing behavior takes a long time (Abnormal Returns)
“Humans do change behavior over time, whether it be through necessity or choice. Generational transitions obviously play a big role in this, but there is hope that we can change, for the better, our actions.”
Behavioral economics reading list (Farnam Street)
This is a huge list and we’re not advocating that busy OSV subscribers SHOULD read all of them. Here’s what the FS folks are suggesting: “If you only want to read a few, check out the first three which will give you a firm introduction to everything you need to know.”

h/t Collaborative Fund