Welcome:
Two things motivated me to start this blog. The first is my belief that there are too many financial bloggers out there seeking to muddy rather than clear the waters (with apologies to the generally high quality financial blog named Muddy Waters) for their readers, pushing them deeper into a confusing labyrinth and generally doing a disservice to the public.
The second was the sterling example of John Hempton's blog at BronteCapital (http://brontecapital.blogspot.com), who provides a truly enlightening read and has served to educate me and thousands of others in how to conduct differentiated securities analysis. He is truly amazing at spotting frauds, in particular.
It will take some time for me to get the hang of things at The Minotaur. But I promise to be fair and open minded and I won't be afraid to admit I am wrong. As a hedge fund analyst, I know that having the courage to admit your mistakes is a crucial part of surviving and succeeding -- stubborness in the face of evidence contrary to your positions is what blows most people up.
The Minotaur in the labyrinth is the other side of our position. He is the strongest argument against owning a stock, or if we are short it, the most wildly optimistic scenario that could send the stock skyrocketing. We are separated from him by the labyrinth, and it may be tempting, and for a time easy, to ignore him. This blog is about facing the Minotaur rather than fearing him, and, if he is too strong, beating a retreat. Otherwise, if the Minotaur turns out to be a fearsome bit of trickery (a Trojan Minotaur? not to mix our metaphors), then our conviction will be stronger for having faced him.
Above all, my aim is to help my readers escape the fate of all those poor virgins the Minotaur devoured.
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