Quantamental Investing: A Brief Primer on KCR’s Toolkits
At KCR, we believe in the Quantamental Investment approach–a strategy that leverages the most useful aspects of both quantitative investing and fundamental investing.
Buffet, S&P 500
In 2021, enthralled by rank stock speculation, the media returned to a familiar refrain that occurs every time there is a bubble: that Warren Buffett is over the hill and has lost his touch.
Has the High-Water Mark for Margins Arrived? It Sure Looks That Way
Corporate profit margins finished 1999 at just a shade under 6% of U.S. GDP.
Do US Large Cap Equity Index Funds Put Your Clients at Risk?
"Those who cannot remember the past are condemned to repeat it," wrote philosopher George Santayana in 1905.
Tesla is a Hidden Risk to S&P 500 Index Fund Investors
We believe index funds have immensely contributed to investors by permitting them to capture beta inexpensively.
The Death of Active Management Has Been Greatly Exaggerated
For the year ending December 31, 2021, passive mutual funds and ETFs reported estimated net inflows totaling $958.43 billion, compared to estimated net inflows totaling $249.91 billion for actively managed funds.
GARP Stocks: Common Sense in an Age of False Narratives
This post explains why we believe GARP Investing may be another powerful way to protect and grow capital amid a speculative frenzy that appears to be on its way out.
Maintaining a Margin of Safety in Your Investment Process
In June of 2021, KCR’s Equity Research Team wrote a brief but pointed review of the legendary treatise on value investing, A Margin of Safety by Seth A. Klarman.
ARKF Dividend vs. XLF Dividend: To Pay or Be Paid
We don’t think this is complicated. Do you want to pay to own expensive stocks or get paid to own cheap ones?
Are Clean Tech Stocks a Short?
Will Consensus on Electric Vehicles, Solar and Wind Crush Investors? How similar is cleantech today to 1999?
Speculation & Margin of Safety Value Investing
The first chart shows that the market cap of firms trading at over 20x sales has hit $4.5 trillion. This is another example of the reckless speculation underway today. Please read on to see how these speculative 20x price-to-sales firms did post the dot.com bubble and how they look today.