Archive - PiggyBack Letter (PBL) of PiggyBack

ESG = Emperor Sans Garments(?)

The consensus ESG investing movement provokes an inverse "Anti-ESG" reaction. Human progress through capitalism is a series of messy tradeoffs. Wise…

Sep 21, 2022 •

Johan Eklund, CFA

August 2022

July 2022

The Foreign Investor's Advantage

If we start investing like foreigners then good things are cooking elsewhere. Grab a free diversification lunch and more interesting investment menus…

Jul 4, 2022 •

Johan Eklund, CFA

June 2022

Buffett's Inflation Bet With The House(s)

Two summers ago Berkshire Hathaway bought century-old Japanese conglomerates. Warren Buffett got a good deal on inflation-protection. (PBL #3 2022)

Jun 28, 2022 •

Johan Eklund, CFA

Shades of Value

An intro to fundamental equity metrics and common definitions in value investing. How well is the accounting grounded in reality? And when are we…

Jun 20, 2022 •

Johan Eklund, CFA

Below Book - Part 2: Screening Cheap

The easiest way to short-list asset discount stocks? Screen. Here is a global June 2022 bargain bin tour. Plus: An Oracle just bought the deepest asset…

Jun 15, 2022 •

Johan Eklund, CFA

Below Book - Part 1: Pull To Average

Down is not out when buying stocks below book value. Value investors have learned not to underestimate the pull to average. (PBL #1 2022)

Jun 9, 2022 •

Johan Eklund, CFA

May 2022

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