John Rekenthaler, CFA

Each approach has its advantages—and drawbacks.

They may generate high returns under the right conditions, but the best feature of a wide-moat stock is its safety.

How an outsider won a Nobel Prize.

An investment parable

An impartial look at these stocks’ long-term prospects.

Now what?

Their relative yields have become acceptable, but that’s not the whole story.

The question, regrettably, is not a joke.

What does it take to prove an investment theory?

As fables go, however, this one is relatively useful.