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When Do We Overvalue Investments?

In 1990, Nobel Prize-winning economist Daniel Kahneman and two colleagues published a study documenting how we can “overvalue” things we already own (D. Kahneman, J. Knetsch and R. Thaler, “Experimental Tests of the Endowment Effect and the Coase Theorem,” The Journal...

Analyst’s Creed

You are an Analyst, a warrior shrouded in mystery and feared for your ruthlessness with Excel. Your actions can throw Board meetings into chaos, and your existence will shape the company during this pivotal moment in history. [Inspired by the Assassin’s Creed] Finance...

Aunt Fanny Publishes a Book on Timberland Investing

I woke up, on schedule, at 4:14 in the morning, rolled over and switched off the alarm before it chimed. At 4:15, the phone buzzed. “Good morning, Nephew!” said Aunt Fanny.  “You up?” “Yes, Ma’am,” I said, swinging my legs over the side of the bed and...