| General | |
| This is a great article on the rationale for using average rather than current earnings and multiples to value stocks (indices): |  |
| This website provides calender related statistical data on Market performance: | |
| The December low indicator:
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| A study on Market performance following a one day 3% decline: | |
| Nine lessons on investing:
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| An interesting study on the correlation between Market performance and Congressional activity:
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| A study on Market performance during earnings seasons (which we just entered): | |
| While we are definitely not traders, our Buy/Sell Discipline is exactly the same as that needed to be a good trader. This is a great article on the qualitative aspects of discipline: | |
| We love these kinds of studies. This is one is of the Market’s average performance by month since 1945:
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| Warren Buffett on debt:
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| The golden rules of investing:
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| On trading stocks:
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| What it takes to be a great investor: hard work.
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| An interesting study on Market appreciation and who controls the levers of power in Washington:
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| This is an interesting article on the role of emotion in investing:
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| The golden rules of investing:
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| Warren Buffett on debt:
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| What is Wealth by Peter Bernstein:
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| Warren Buffet on debt:
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| More wisdom from Warren Buffett:
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| More on the January effect:
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| A brief discussion of the January effect:
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| This is a somewhat technical discussion of equity risk premiums:
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| Warren Buffett’s Investment Principles
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| A good article on how the economic theory of Joseph Schumpeter (creative destruction) is manifesting itself in today’s economy:
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| Avian Flu: This a sleeper issue. You might want to check it out. | |
| A great read: Steve Job’s commencement address at Stanford University | |
| Dividend | |
| This is an article relating dividend payout ratios and the subsequent performance of stock prices:
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| This is another great paper on dividends by Peter Bernstein:
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| The Power of Dividend Growth:
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| More Wisdom from John Bogle: Dividends, Management Fees and More
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| Why Has the Dividend Payout Ratio Increased? | |
| The Resurgence of Dividends According to Peter Bernstein | |
| This Forbes article emphasizes dividends and mentions several stocks in our Growth Stock Portfolio. | |
| Note that this is a 2002 article so the tax references are out of date. | |
| Mark Cuban’s comments on dividends | |