The Shanghai Composite Index has more than doubled over the past ten months. Parallels can be drawn to the US dot.com bubble, but even more excessive.
Standing Room Only
2015-03-20, Mathew Hermary
From a recent investor conference, it was clear that the business environment is the healthiest it’s been since the Financial Crisis.
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Knowing The Knowable
2015-02-20, Clement Chiang
As bottom up investors we prefer to focus on the characteristics that make a great business and the valuations that provide a margin of safety.
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If Something Cannot Go On Forever, It Will Stop
2015-01-16, Mathew Hermary
Further appreciation in the S&P 500 during 2015 will not only mark a precedent in historical price movements but a move further away from fair value.