Buy the Land . . . Get the House for Free Benjamin Graham, the father of value investing, famously recommended buying stocks that trade at a discount to the company’s underlying “book value” (basically, assets minus liabilities). His rationale was that a company’s book value established a floor under its stock price: even if the...Read More
Creative Responses to the Financial Crisis I suppose it’s just another a sign of our warped, contemporary values that we have a Strategic Petroleum Reserve (“SPR“) — heaven forbid our SUV’s become idled — but nothing equivalent for food. Clearly, the ongoing financial crisis is going to be with us for awhile longer. In the...Read More
Interest Rate Level as Regulator Valve Anyone in the market for a new mortgage — or trying to refinance an existing one — can attest to how volatile interest rates are today. Certainly, one key ingredient is the unprecedented uncertainty in the credit markets. However, another, more recent factor is understaffed lenders. According to local...Read More
