If there’s one quality esteemed Wall Street investment advisor and economist A. Gary Shilling possesses that has long set him apart from the pack, it’s a kind of preternatural patience — combined with the wry wit of a keen and discerning intellect confident in the depth and breadth of his expertise. He’s not the sort of fellow who gives a darn about popular consensus; he calls them as he sees them. And his resume demonstrates a pretty singular willingness to pay the price. [More]
 

By Tom Hancock

There are many ways to define quality companies. GMO’s focus in quality investing for 40-plus years has been on companies that have a consistent and enduring ability to deliver high returns on their investments. This requires a business with continued growth and relevance, tight control to replicate assets, and strict capital discipline on management’s part.

By Philippa Dunne & Doug Henwood

This morning’s inflation report [11/14/23] was very encouraging. Almost three-quarters of the yearly headline increase of 3.2% came from shelter, which was up 6.7%. Take that out — an exercise which is for analytical purposes only, since it's over a third of the index — and inflation was just 1.5%.

By Blaze Tankersley

“I only know what I see.” — The Chartist

• _Breadth gets a bunch of help from an historically low level of decliners.

• Expect the average stock to begin to recover on a relative basis from epic wides.

• Credit remains very strong.

By Andrew Addison 

The CPI Index ex Food, Energy & Shelter year-over-year declined to 2%. From a 6-year base, the Index broke out once it hurdled 1.7%. [More]