It Ain’t Just the Fed – October 2016
Most bull markets comprise of a combination of central bank liquidity, improving fundamental (cites high corp. profits as % of GDP), and negative sentiment.
Rabidly Risk Averse – June 2016
The letter makes two points: (a) listen carefully to the equity allocation suggested by the Wall St strategists in aggregate and bet actively against them (as borne out over the record over the past 30 years), and (b) market is not significantly over-valued when seen through the rule of 20–the sum of market’s P/E and inflation rate.
Prasad Capital 