June 7, 2025 2Q25 Letter To Investors Mistakes of the First 18 Years And The Maturation of My Game 7 months ago I moved from the Bay Area to Davis to escape the fast pace and stress of the big…
It’s been a long 2 1/2 years for Dollar General (DG) investors but there appears to be light at the end of the tunnel. A few minutes ago DG reported better than expected 1Q25 earnings. Comps increased 2.4% while operating…
For the last two months I’ve been trying to determine if the rally initially spurred by Trump pausing the Liberation Day tariffs by 90 days on April 9 represents a continuation of the long bull market or a bear market…
It is better to buy a wonderful company at a fair price than a fair company at a wonderful price – Warren Buffett, 1989 Letter to Shareholders The advent of value investing occurred with the publication of Ben Graham and…
The market was cruising along until a weak 20 year treasury auction in the middle of the day Wednesday sent interest rates soaring and stocks stumbling. Early Friday President Trump spooked markets once again by calling for a 50% tariff…
Even a downgrade of the US credit rating by Moody’s couldn’t derail the current momentum in the stock market Monday as the S&P clawed back all of the 60 points it lost at the open plus 5. The technicals have…
After finishing 28th out of 643 in Graton’s $800 $300k Guarantee Main Event last Monday (May 12) for $3,780, I had a day off before flying to Los Angeles for the WSOP Tournament of Champions at the Commerce Casino –…
If you have a bearish bias, you have to be very aware of it. You have to work around it. And I always have – Stan Druckenmiller Any man who is a bear on the United States will go bankrupt…
Things happen in their own time, not when you want them to – Lau Tzu, Tao Ching If there was one thing I would like to go back in time and tell my younger self it’s to think long term….
I have been going back and forth over the last week or two: Bear Market Rally or Correction In An Ongoing Bull Market? In the wake of the strong bullish reaction to Google’s (GOOG/GOOGL) 1Q25 earnings report on Thursday April…