As Katherine Mackey and I have written, the focus from a policy perspective should ultimately be on student outcomes, not the inputs to get there.

FORBES: Is Mandating Online Learning Good Policy?

From a value perspective, the focus is on a difference between intrinsic value and market price.

FORBES: All That Is Gold Does Not Glitter

That perspective meshes with a focus of Cambria Investment Management chief investment officer Mebane Faber: the concept of shareholder yield.

FORBES: Dividend Stock Outlook: In A Low-Rate World, Beware The Lure Of Rich Yields