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Recent Insights


March 1, 2021

Many of today’s investors, particularly the young aggressive Robinhood types, want big returns, and that is something more than the stock market, or the average stock, can provide. Read the

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February 8, 2021

BRADFORD CORNELLANDERSON GRADUATE SCHOOL OF MANAGEMENTASWATH DAMODARANSTERN SCHOOL OF BUSINESSAbstractFor much of the last century, value investors considered themselves to be the winners in the investment world, a result they

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February 5, 2021

Given the intense interest in the relation between stock prices, interest rates, and inflation, it is worthwhile to review basic concepts that tie them together. To start, it is critical

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January 19, 2021

The problem humanity faces is not climate change per se – it is providing reliable energy to a growing world economy and a global population projected to hit 10 billion

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January 14, 2021

With all the talk about Bitcoin, at Cornell Capital Group we thought it is time to delve into the data. The data sample employed in the analysis consists of the

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Featured Publication


BRADFORD CORNELLANDERSON GRADUATE SCHOOL OF MANAGEMENTASWATH DAMODARANSTERN SCHOOL OF BUSINESSAbstractFor much of the last century, value investors considered themselves to be the winners in the investment world, a result they attributed to their patience, maturity and good sense. That view, at least on the surface, was backed up by evidence that “value” stocks, defined as stocks that trade at low multiples of earnings and book value, earned higher returns than “growth” stocks, defined loosely as companies that trade at high multiples of earnings or book value. It was reinforced by the mythology of great value investors, with Warren Buffett and Charlie Munger taking center stage, as deep thinkers, with profound insights on how markets work. In the last two decades, value investing lost its edge, and a debate has revolved around whether this is a temporary phase, and the result of an unusual macro environment, or a reflection of a permanent change in economies and markets. In this paper, we argue that value investing, at least as practiced today, has become rigid and ritualistic, and that while some of its failures can be attributed to external factors, many can be traced back to practices and rules of thumb that have

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