Value Tech Notes

A sample of our past letters to clients (PDF files)

2008	One more bear-market rally - and more volatility	August 7
	And now the real bear begins...	July 7
	Yes, Bear Market Rally probably over	June 9
	Bear Market Rally to End?	May 12
	Bear Market Rally	April 27
	Markets continue to plunge - Giraffe continues to buck trend	March 7
	The market plunges - Giraffe bucks the trend	February 7
	A tough 2007 - but the New Year starts better	January 12
2007	Every value investor has an occasional bad year...	December 12
	The frustrating life of the value investor	November 12
	A slow melt-up coming?	October 10
	It's raining cheap stocks	September 11
	Taking advantage of further opportunities	June 7
	Follow da Money...	May 4
	Neglected stocks discovered by day traders...	April 9
	Volatility Creates Value Opportunities	March 12
	2006: The Year That Was	February 12
	Year-end's Zoom	January 10
2006	Woken up Values and Day-Traders' Raid...	December 8
	Techs turn around	November 8
	Value vs. Momentum	October 11
	9/11: Five years after	September 11
	Quotation risk vs. Valuation risk	August 9
	More like an air-pocket...	July 10
	Downdraft...	June 9
	Product crossover and rising margins	May 8
	Onwards and upwards	April 7
	And we have lift-off...	March 6
	Tech up-cycle begins anew -- hold on tight...	February 8
	Suddenly the headlines turn bullish...	January 10
2005	Mr. Market’s Mood Lightens	December 7
	Values galore	November 7
	One more bump (maybe)— then lift-off	October 6
	Volatility before the takeoff...	September 7
	A Value Tech is recognized — twice…	August 8
	Return of capital before return on capital…	July 8
	Reward for risk-or for knowledge?	June 7
	Volatility reigns, while value builds	May 5
	Giraffe's Moneyball...	April 5
	When to Sell a Multi-bagger?	March 7
	In Praise of Due Diligence — and Luck	February 7
	A Classical Value Year	January 10
2004	Superior Returns Through Tough Times	December 7
	Values Appear	November 8
	Adopting Value Orphans	October 6
	Best of Breed	September 7
	Inside The Waterfall...	August 3
	Warnings Galore -- but Investors Oblivious...	July 7
	Sell The Boom, Buy The Gloom	June 2
	Into The Waterfall...	May 5
	Waiting For A Buying Opportunity...	April 5
	Our Value Tech Rise, while Big Techs Languish	March 2
	Value Tech Rising, But Still Cheap	February 3
	Swimming Against The Tide -- Yet Again	January 5
		More Letters >>