Sunday, July 13, 2014

High Yield Reads - 7/13/14

Summary of recents posts and pieces of interest, sometimes enduring, to investors:

  • Josh Peters on dividend and buyback debate: the record for buybacks was set in 2007 near previous market highs, then when prices improved companies were concerned with the financial crisis and couldn't buy at attractive prices. Buy backs are great in theory, but  its not reasonable to expect management to be excellent at running their business and be the second coming of John Malone, too. 
  • Lou Ann Lofton: Invest Like a Girl. Words of wisdom; women "tend to think longer term, take much less risk, and just generally view investing more as a means to an end (security for their families, for example) than a game or a way to keep score." 
  • Meet the new fund holdings (mostly) the same as the old fund holdings - Forever Investor - checks in on Neil Woodford's new fund and finds it similar to his previous fund. It was an interesting parlor game to figure which ones he would buy. The qualities were still there on many holdings (Like AstraZeneca, Roche) but the prices had run up. Good signal to see them in the new portfolio (bought in June) as well.

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