Freshpet (FRPT), a $4 billion dollar dog food maker, just reported 4Q25 earnings and the stock is down almost 4% in reaction. But I liked the report and the reaction doesn’t bother me at all. That’s because while Wall Street…
It frequently happens that a man delivers his opinions with such boldness and assurance that he appears to be under no apprehension as to the possibility of his being in error. The offer of a bet startles him, and makes…
In the short run, the market is a voting machine; in the long run, a weighing machine – Ben Graham The great Ben Graham – teacher of Warren Buffett – encapsulated the two perennial approaches to investing in the quote…
January 3, 2026 It takes a man a long time to learn all the lessons of all his mistakes – Jesse Livermore The test of a first rate intelligence is the ability to hold two opposing ideas in mind at…
There are a lot of really smart people on Twitter. Traders who can time every zig and zag in the market. Investors who understand AI and who the winners and losers will be. Let me save you some time: I’m…
Caterpillar (CAT) reported 3Q25 earnings Wednesday morning and the stock is exploding higher (+13% as I write). I’m sitting on some pretty big gains and I was tempted to sell but I’m not going to for a couple of reasons….
There is nothing so disturbing to one’s well being and judgement as seeing a friend get rich – Charles Kindleberger On Friday, the S&P briefly hit 6,666 before closing the week at 6,664. That is up 10x or 1000% from…
One of the core principles of Warren Buffett’s value investing system is Circle of Competence. That is, only buy stocks whose business you understand. If you don’t understand a business, how can you analyze it and come to an estimate…
The Perennial Philosophy in investing is to buy great companies and hold them for the long term. Buy right and sit tight. That is is how the big money is made in stocks. In fact, you don’t even have to…
It takes a man a long time to learn all the lessons of all his mistakes – Jesse Livermore It is better to buy a wonderful company at a fair price than a fair company at a wonderful price –…