Stock Surrogates

No we are not talking about some kind of new genetic experiments. These surrogates came to life in 1973 with the opening of the CBOE and listed options trading and they are alive and well today. What began with expirations 4 times a year has morphed into 52 times a...

Calling All Value Traps

Beginning sometime in 1955, our value standards and the market parted company, and the gap has tended to widen throughout the ensuing years. Graham, Dodd, Cottle, and Tathum, Security Analysis (New York, McGraw Hill,  1962) The gap between the conservative outlook of...