You have a certain set of facts and you are looking for situations where you have an edge, whether the edge is psychological or statistical..

When people ask me what I do for a living, I generally tell them 'I run a hedge fund.' The majority give me a strange look, so I quickly add, 'I am a….

In the real world, illiquid assets carry a discount..

A 99% Value-at-Risk calculation does not evaluate what happens in the last one percent... This is like an airbag that works all the time, except when….

What is uncertain is how much further the bubble can expand, and what might pop it..

I will keep a substantial long exposure to gold -- which serves as a Jelly Donut antidote for my portfolio. While I'd love for our leaders to adopt s….

The loss was not bad luck. It was bad analysis..

When you leave a good job to go off on your own and don't expect to make money for a while, you name the firm whatever your wife says you should..

As an investor my job is to figure out what will happen rather than what should happen..

Microsoft has one more shot at a role in smart phone software through its deployment on Nokia phones. Nokia is still the global market share leader i….

Microsoft could help Facebook with one of the biggest challenges, namely monetizing its traffic without reducing the user's experience. It's obvious ….

What do you call a stock that's down 90%? A stock that was down 80% and then got cut in half..

Ive got a fantasy-baseball team with my brother. But I have to admit, he does all the work..

One of the best investors around, Joel Greenblatt, has written a popular, charming and funny book about investing in great companies at low P/E multi….