January 2019 Commentary and Investment Returns
“Be fearful when others are greedy. Be greedy when others are fearful” – Warren Buffett. Where are we, at the end of January 2019? Since December 24, the stock market has had an explosive, almost...
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Question to Warren Buffet: Your investment thesis is so simple, why doesn’t everyone just copy you? Buffet answer: “Because nobody wants to get rich slow” – anecdotal… Where are we, at the end of...
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March 2019 and Q1 2019 Commentary and Investment Returns
Whenever I see a stock market explode, six to 12 months later you are in a full blown recovery…. Stanley Druckenmiller Where are we, at the end of March and end of Q1 2019? The first quarter of 2019...
View ArticleApril 2019 Account Performance and Commentary
“Don’t kid yourself about what this sell-off is really about. It is about a recession.” – Jim Cramer, January 2016, CNBC2016 S&P 500 total return: +12.25% Where are we, at the end of April 2019?...
View ArticleMay 2019 Account Performance and Commentary
“[Our] Senior Analyst […] looked at pullbacks of 10% or more dating back to 1940…[and could find no instances] of pullbacks of over 10% occurring within 9 months of each other……” – Lowry’s...
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June 2019 and YTD Commentary and Investment Returns
“The stock market is filled with individuals who know the price of everything, but the value of nothing.” – Phillip Fisher Where are we, at the end of June 2019? Last month I talked about May’s...
View ArticleJuly 2019 Commentary and Investment Returns
“The market may be bad, but I slept like a baby last night. I woke up every hour and cried.” – unknown Where are we, at the end of July 2019? The markets did fine in July and actually the S&P 500...
View ArticleAugust 2019 Commentary and Investment Returns
An economist walks into a pizzeria to order a pizza. The waiter asks: “Should I cut it into 4 pieces or 6 pieces?” The economist replies: “I’m feeling hungry right now. You’d better cut it into 6...
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September 2019 and YTD Commentary and Investment Returns
A woman hears from her doctor that she only has 6 months to live. The doctor advises her to marry an economist. The woman asks, “Will this make me live longer?” The doctor answers, “No. But it will...
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October 2019 Commentary and Investment Returns
American capitalism: “You have 2 cows. You sell 3 of them to your publicly listed company, using letters of credit opened by your bank, then execute a debt/equity swap with an associated general offer...
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November 2019 Commentary and Investment Returns
After years of scrimping and saving a husband told his wife the good news: “Honey, we’ve finally got enough money to buy what we started saving for in 1979.” “You mean a brand-new BMW?” she asked...
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December 2019 and Year 2019 Commentary and Investment Returns
An investment banker asks a fisherman, “What do you do when you’re not fishing”, to which he replies, “I sleep late, play with my children, take siestas with my wife, stroll into the village each...
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January 2020 Commentary and Investment Returns
Einstein enters Princeton for his first day of work. The Dean leads him to the faculty lounge and begins introducing him to professors. “Here are your first colleagues; they have IQs of over 180”....
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February 2020 Commentary and Investment Returns
The stock market may be bad, but I slept like a baby last night. I woke up every hour and cried… (unknown). In summary, despite its speed and severity, the current market pullback has antecedents in...
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March 2020 and YTD Q1 Commentary and Investment Returns
From a trader after the market crash: “This is worse than a divorce. I’ve lost half my net worth and I’m still married.” Where are we, at the end of March 2020? There are many things to discuss after...
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April 2020 Commentary and Investment Returns
“Stock trading is an activity where people with money meet people with experience. After spending the day together, they exchange assets and go home”….Unknown “We simply attempt to be fearful when...
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May 2020 Commentary and Investment Returns
“Investors must always distinguish between what they think the market should do and what the market is actually doing. If one were to base their investment decisions solely on [the financial news],...
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June 2020 and YTD Q2 Commentary and Investment Returns
“If you don’t know where you are going, you’ll end up somewhere else”….. Yogi Berra “It’s only when the tide goes out that you discover who’s been swimming naked”…Warren Buffet “The stock market can...
View ArticleJuly 2020 Commentary and Investment Returns
“When you come to a fork in the road, take it”….. Yogi Berra “Success in investing doesn’t correlate with IQ … what you need is the temperament to control the urges that get other people into trouble...
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August 2020 Commentary and Investment Returns
“You can observe a lot by just watching” …. Yogi Berra “If you can’t explain it simply, you don’t understand it well enough” … Albert Einstein Where are we, at the end of August 2020? Here are the...
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