BY KENT SHAW, CFA   The P/B Ratio – Additional Distortions In our prior post, we discussed how share repurchases can impact price-to-book (P/B) ratios. Another distortion that is significant is that of an asset write-down or goodwill impairment. If … Read More

BY KENT SHAW, CFA In 1952, Patti Page sang How Much is That Doggie in the Window? The song later rushed up the Billboard music charts to number one in 1953. Clearly, those were wild times. The title of this … Read More

BY KENT SHAW, CFA The capital markets offer all kinds of opportunities, with commensurate risks, for investors and are a great place to build wealth. However, all portions of the capital markets are not created equal. The market of initial … Read More

BY KENT SHAW, CFA For this quarter, we have chosen what we hope will be an interesting topic for everyone: diversity and crowd sourcing. Diversity is a word often thrown about in terms of public policy and the need for … Read More

BY KENT SHAW, CFA INTRODUCTION The adage “buy low, sell high” is a simplification of how to build wealth in the investment market. To buy low is to identify investments that are inexpensive, or “cheap” and then hold them until … Read More

BY KENT SHAW, CFA There are many factors that affect stock market returns but it’s helpful to have a framework where possible to simplify analysis. One such model is the example shown below where the returns of the market are … Read More