Art Samberg, Mario Gabelli, Leon Cooperman and Russell Carson share their thoughts on today’s market valuations and the economy at the Columbia Business School’s 2017 Reunion Weekend.
Successful investors know that finding a business with a high barrier to entry, a moat in Buffett parlance, is the key to creating long-term wealth. Identifying businesses that have a competitive advantage that is sustainable and durable, will deliver the greatest rewards to the owners. Continue reading
Edward Altman says the benign credit cycle is in “extra innings,” but the metaphorical relief pitchers — central bankers — are running out of gas.
“It is easy to confuse day-to-day noise with actual and significant signals. If you are merely reacting to the latest market action, then what you have is not a plan — you have an instinctual, fear-driven reaction, and it’s the makings of a disaster.”
European Central Bank policy is having unforeseen consequences and this one is a real head scratcher, getting paid by the bank to borrow money. How long do you think this can last?
But it isn’t all bad. Some Danes with floating-rate mortgages are discovering that their banks are paying them every month to borrow, instead of charging interest on their home loans.