Information technology
By John Schroy, on July 10th, 2009 | 
Whereas, in the days of Benjamin Graham, an analyst could count on Standard Statistics to provide the essential facts, three-quarters of a century later, this is no longer true in the case of its successor, Standard & Poor’s.
The tsunami of free financial information and increasingly complex markets, have driven up the cost of traditional security analysis. The less expensive route, technical analysis, is now favored by many. We must move beyond Graham & Dodd if fact-based analysis is to remain relevant.
Post Modern Security Analysis
By John Schroy, on May 11th, 2009 | 
Security market observes have long noted that investors seem to jump hither and yon, like the synchronized swimming of schools of fish.
This phenomenon is given the mathematical term ‘covariance’ and a numerical measure called ‘beta’.
Covariance is a central concept in Modern Portfolio Theory, and also in Technical Analysis with the saying ‘the trend is your friend’.
The Post Stock Buyback Era
By John Schroy, on April 19th, 2009 | 
The Crash of 2008 signaled a turning point in capital markets. The stock buyback era seemed to have ended. The Efficient Market Hypothesis was discredited. The inability of market experts and major institutions to place a fair value on thousands of securities indicated basic problems in security analysis and the handling of freely available information.
This article describes new challenges facing fundamental security analysts in the early 21st century, and the consequent opportunities.
Topics: 
Popular Articles