Hi guys!
Stupid question, but I think one of the best ways to improve one's investment ability is probably to read high-quality investment thesis/arguments. Where can one find those? Are there any forums that you'd recommend? (I'm excluding things that are formally from work since presumably, one can't find memos written by other funds).
Thanks!
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Decks from activist hedge funds. Lots publicly available. For example:
https://www.docdroid.net/RgwdtRL/the-d-e-shaw-groups-perspectives-on-em…
More here:
https://www.10xebitda.com/hedge-fund-presentations/
^ These two are spot on. Here are some other solid sources for research publications/decks/other materials outlining the thought processes from various firms in their own words:
http://minesafetydisclosures.com -absurd collection of buyside investor letters; solid reading list and 13f screening tool
https://www.insidermonkey.com -similar to MSD, eg, lots of letters; also has tons of analyses straight from buyside firms
https://ftalphaville.ft.com/longroom/home -this one is great, but kind of a pain in the dick in that you have to subscribe to FT and request access (their way of ensuring internal use only docs that end getting leaked don't wind up creating unnecessary liability if some retail dumbfuck takes the advice, loses tons of money, and sues) it's essentially an institutional publication aggregator where you can request anything you'd like, and if other people have them they can upload them there; a truly insane volume of really solid research from every possible angle [incl. IB, HF, MC, SS Research-Only shops (eg Gavekal) and so on]; TLDR: worth the $ and time, just a pain in the ass in the interim while waiting
https://www8.gsb.columbia.edu/valueinvesting/resources/newsletters -solid site that publishes quarterly a la the Ben Graham/David Dodd "Intelligent Investor" value-investing school of thought
https://www.marketfolly.com
http://www.distressed-debt-investing.com
https://www.valuewalk.com
http://csinvesting.org
These occasionally post really solid interviews with top investors who use strategies which run the gamut of pretty much anything you could think of, but don't have a lot of "pure-play" research in the same vein as the above:
https://www.realclearmarkets.com
https://ritholtz.com