Corporate governance
By John Schroy, on August 31st, 2006 |

The Harvard Business Review (September 2006) featured a lead article by Professor Alfred Rappaport of Northwestern Univerity’s Kellog Graduate School of Management that questioned stock buybacks at prices above intrinsic value.
However, Professor Rappaport didn’t object to buybacks below intrinsic value, as had Benjamin Graham, Warren Buffett’s mentor and guru.
US equities
By John Schroy, on August 24th, 2006 |

There is a common belief that a managed, diversified portfolio of US common stocks provides protection against inflation. However, there is reason to question whether this protection currently exists.
Considering today’s equity prices, relative to intrinsic values, there is doubt as to whether common stocks offer the level of protection against inflation that many presume.
Investment information
By John Schroy, on August 11th, 2006 |

Millions of investors put money for retirement into mutual funds selected on the basis of “SEC total returns” and the name of the fund. This article explains how the SEC allows funds to use this misleading statistic to the detriment of investors’ interest and to the benefit of fund managers.
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