In finance, there are often well-known rules of thumb for investing that can easily become embedded in consensus thinking. For market timing, the well-worn “Buffett ratio” compares the value of stocks relative to the nation’s economic output. Other market timing formulas compare the relative value of government bond rates to the dividend yield provided by stocks. But are these generic sound bites telling the whole story in value investing?
Q3 hedge fund letters, conference, scoops etc
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