Click to Buy? Not Here. Exploring the Complex World of Reinsurance
November 29, 2024at8:00 AM
When I applied for an investment banking internship at a reinsurance firm, I had no idea what reinsurance even was. It reminded me of a time when I listened to Tom Gayner explain Markel Insurance. Paraphrasing him, Gaynor described it as something "Yo...
Decoding Financial Statements: A Quick Guide to Balance Sheets, Income Statements, and Cash Flows
November 19, 2024at8:00 AM
As I hurtle towards the end of my Financial Accounting course this semester and prepare for my internship interviews, I thought it would be helpful to think about a methodical way to analyze financial statements in a quick and efficient manner. Every compa...
Why Mortgage Rates Don’t Fall Even When the Fed Cuts Rates
November 10, 2024at8:00 AM
As you may have heard, the Federal Reserve recently cut interest rates by 50 basis points (I always wanted to say that so that I can sound like all the reporters on CNBC-way more erudite than 0.5%). But when I saw this headline in WSJ, it got me curious: W...
Lessons from See’s Candies: A Sweet Example of High-Return Business Strategy
November 2, 2024at7:00 AM
If you asked me to name one of my favorite Berkshire Hathaway shareholder letters, the 2007 letter would come to mind instantly. It’s not just because of Warren Buffett’s timeless financial wisdom but because it dives into the details of See’s Candies—one ...
Outsmarting the Market: Joel Greenblatt’s Strategy for Beating Wall Street
October 20, 2024at7:00 AM
Joel Greenblatt is one of the most prominent figures in value investing, with a career that highlights his ability to identify undervalued stocks using a disciplined and systematic approach. Known for his books like “The Little Book That Beats the Market” ...
Navigating the Dot-Com Bust: A Deep Dive into Jeff Bezos's 2000 Shareholder Letter
October 2, 2024at7:00 AM
The year 2000 was a tumultuous period for the tech industry, marked by the bursting of the dot-com bubble. Amidst this financial turbulence, Jeff Bezos, the founder and CEO of Amazon.com, wrote a shareholder letter that not only addressed the immediate cha...
Mark Leonard: A Masterclass in Capital Allocation (and Leadership by Example)
September 22, 2024at7:00 AM
Mark Leonard, the founder of Constellation Software Inc. (CSI), is one of my favorite capital allocators and business leaders, notonly because of his exceptional track record but also because of the principles he upholds in running the company. Leonard’s d...
From Headlines to Yield Curves: How Everyday Reading Can Unlock Financial Insights
September 15, 2024at7:00 AM
In the world of investing and business, the importance of reading cannot be overstated. Some of the most successful investors, like Charlie Munger and Warren Buffett, are avid readers, constantly seeking new knowledge and perspectives. Their voracious appe...
The Inverted Yield Curve: A Warning Sign for the Economy?
September 9, 2024at7:00 AM
The bond market has its own way of predicting the future, and one key indicator it uses is the yield curve. But when this curve gets "inverted," it makes headlines, and for good reason. Chances are, if you turn on CNBC or Fox Business, you will h...
I recently stumbled upon this Excel cheat sheet online, and while the author is unknown, it's an excellent resource for brushing up on those essential shortcuts. Whether you're a seasoned Excel user or just getting started, it's always helpf...
In the world of finance, numerous metrics help investors and analysts assess a company's financial health. Among these, EBITDA—Earnings Before Interest, Taxes, Depreciation, and Amortization—stands out as one of the most widely used ones. Understandin...
The True Measure of a Stock Portfolio’s Worth: Intrinsic Value
August 8, 2024at7:00 AM
One of my favorite investors to follow and study is François Rochon, the founder and president of Giverny Capital, a wealth-management firm he established in 1998. He is a renowned value investor who follows the principles of Warren Buffett, focusing on lo...
Berkshire Hathaway Shareholder Letter (2023): Operating Earnings vs Net Earnings
July 26, 2024at7:00 AM
Shareholder letters are invaluable educational and informational tools for both investors and those interested in understanding a company's operations and financial performance.
Free Cash Flow: Unlocking the True Financial Health of a Company
July 20, 2024at7:00 AM
In the world of finance and investing, understanding a company's financial health is crucial. One of the most important metrics to assess this is Free Cash Flow (FCF). Let's dive into what Free Cash Flow is, why it matters, and how to analyze it....
Introduction to P/GP Ratio In the world of finance, the Price to Gross Profit (P/GP) ratio is a valuable but often underrated metric for evaluating a company's valuation and profitability. This ratio measures how much investors are paying for each dol...
Mastering Excel: Tips and Shortcuts for Financial Professionals
July 2, 2024at7:00 AM
In today’s interconnected world, the global financial system is a complex and intricate network that underpins economies and facilitates trade, investment, and growth. Despite its vastness and sophistication, there’s an often overlooked yet pivotal tool th...
When discussing capital allocation, it's essential to highlight the industry stalwarts who have mastered this art. Visionaries like Mark Leonard, the founder of Constellation Software, have set exemplary standards. Leonard's meticulous approach t...
Options are powerful financial instruments that can enhance investment strategies but are often daunting to novice investors. Here's a concise guide to understanding the basics of options:What Are Options?Call Option: Grants the holder the right to bu...
Accounting often conjures images of accountants diligently working away in stuffy offices. While accounting may not seem glamorous or exciting, it is vitally important as the language of finance and business. Understanding the fundamentals of accounting c...
Understanding the Relationship Between Two Crucial Financial MetricsIn the world of finance, Return on Invested Capital (ROIC) and Weighted Average Cost of Capital (WACC) are two of the most important ratios used to assess a company’s financial health and ...
