Verdad News Roundup
I’ve been on a number of podcasts this year to discuss The Humble Investor and my views on markets. If you’re interested in listening, rather than just reading, Verdad research, here are links to a few of my favorites:
Merryn Talks Money: I talk with Merryn Somerset Webb about private equity, US tech and AI, and, naturally, Polish small-caps.
Monetary Matters with Jack Farley: I discuss value, Magnificent 7, private equity and credit, and bonds with Jack Farley.
Stansberry Investor Hour: I argue that the private equity reckoning has arrived in conversation with Dan Ferris.
Greg Obenshain was recently featured in the Financial Times, quoting his weekly research note on high-yield spreads. “Spreads are low, and they may be rising,” Greg writes. “This does not signal an imminent crisis, but it does move us to an environment where equity returns have been lower on average.”
Finally, I’m delighted to report that The Humble Investor is flying off the shelves. If you haven’t already bought your copy, here are a few recent reviews from Amazon.com to entice you!
I have been reading Daniel Rasmussen's Verdad Capital research emails for the past eight years. When this book came up, it was a no-brainer to purchase. Rasmussen has a knack for cutting through the noise and getting to the heart of what actually works in investing, and The Humble Investor is no exception.This book does what most investment books fail to do—it doesn’t sell you a magic formula or pretend the future is predictable. Instead, Rasmussen lays out a compelling case for humility in investing, backed by data and historical analysis. He challenges the overconfidence that plagues the industry and makes a strong argument for disciplined, fundamentals-based investing.What I appreciate most is how he takes concepts that are often buried in academic finance papers or obscured by jargon and makes them both digestible and immediately useful. He doesn’t just tell you to be humble—he shows you why humility is an edge in markets that reward patience and punish arrogance.If you’re looking for an investing book that skips the hype and instead offers a data-driven, reality-based approach, The Humble Investor is worth your time. It’s not just another finance book; it’s a reminder of how much better we can be as investors when we acknowledge what we don’t know.
The Humble Investor by Daniel Rasmussen is this year's must-read investment book. I have followed Dan's work for years, and he and his team at Verdad are doing incredible work on valuation, fixed income, asset allocation, and many other topics. In The Humble Investor, the author distills all that research into easy-to-understand information individuals need to improve their investment performance. He breaks down some high-level finance concepts so even new investors can grasp them and put them to work building a portfolio. Dan blows up some myths and trashes a few beloved concepts along the way. Much of what is taken for granted on Wall Street simply is not so, and The Humble Investors points out some of the destructive and harmful fallacies and mistaken beliefs. He holds nothing back. He shares exactly what you need to build a portfolio that delivers strong results .You will never wonder what to do in a market crisis again, as The Humble Investor provides a game plan for success. Your stock picking and asset allocation decisions will be based on math and an understanding of history instead of concepts that everyone knows that just do not hold water. When I heard Daniel was writing a book, I expected a volume that could help investors cut through all the noise and garbage to build their portfolio and net worth in the markets. The Humble Investor exceeded my expectations.