
First-Level Thinking, Second-Level Thinking
Howard Marks is a legend of the investment industry. For those uninitiated, Marks is a US value fund manager who cofounded and co-chairs Oaktree Capital Management, overseeing $100bn in capital. His net worth is approximately $2bn according to Forbes. Marks is known for this insightful quarterly memos to investors. They fall into the 'must read' category, so much so, that Warren Buffett has said that when the memo reaches him, he drops whatever he's currently holding (grandc

Why we Clone our Idols the Wrong Way
Improvement is easier if we inverse the way we emulate our idols.
Stop trying to do what they do best, concentrate on not doing what they don’t do! Following a process to making better investment decisions is difficult to achieve and sustain. The variables are many and most of them are out of our control. A useful idea I use comes from the great 19th Century German mathematician Carl Jacobi who, when looking at problems investors face said, “Invert, always invert”. In other

3 Set Plays For Your Portfolio
SET PLAYS have become an important component of our great game and an effective tool in gaining an edge. The aim of any set play is for a team to have an automatic response to any scenario on the football field.
Although the concept of implementing set plays in the sharemarket might seem like a strange idea, the aim is to ensure you have an automatic response for what certain stocks or the S&P/ASX 200 (your oppositions as an active investor) might throw at you. It ensures t

Will the Property Sector do a Brisbane Lions or a Geelong Cats?
'Regression to the mean'…sounds more complicated than it is.
To ‘Regress’ is to return to a former or less extreme state. ‘Mean’ is another word for average. For example, kick 44 goals in a 22 game season and your average is 2 goals per game. (44 goals divided by the number of games played 22 = average of 2).
Most things regress or revert to the mean. This is especially so when it comes to financial markets and the performance of AFL clubs over a period of time. Certain c

(Brownlow Medal Music) I Declare ............ as the 2016/17 ASX Brownlow Medalist
Click Here for the Brownlow Music - go on...
I declare WHITEHAVEN COAL (ASX:WHC) as the 2016/17 ASX Brownlow Medalist. Premiership Portfolio is excited to introduce the ASX Brownlow Medal. It might lack the glitz and glamour of the AFL Brownlow night, yet it's awarded on the 1st of July each and every year to the best and fairest company whose share price outperformed all others on the Australian Stock Exchange. To be eligible to win, the company must not have engaged in an