The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Inker: Stock market volatility of 17% vastly exceeds fair value's 1%
“There is very, very little volatility to the underlying fair value. It's about one percent a year. And yet the market has a volatility of 17. And that's a mismatch that says there must be some predictability to the market”
Inker: US manufacturing productivity has been net negative since 2011
“Productivity growth has been net negative. We are less productive making stuff than we were in 2011.”
Inker: Pre-2020 value investing drought mirrors the 1994-1999 era
“2000 to 2002 was a wonderful period for value. The similarity to the 1994 to 1999 period is this has been another dreadful period for value as a strategy. We see that kind of on a individual stock level. It's also been a lousy period for valuation driven inves…”
Inker: Profitability gap between mega-caps and peers widened most in US
“There is no question the gap between the biggest companies and everybody else in their industries, the gap in profitability has widened very significantly, and that widening has been much more pronounced in the U.S. Than it has been elsewhere.”
Inker: Value historically beats market by 1% despite 3% earnings undergrowth
“Historically, they traded at a 25% discount, and they undergrew by three percent a year, and it turns out that a 25% discount and three percent a year undergrowth allows you to outperform by a point a year.”