WELL: What To Do When Your Stock Gets Overvalued
For the most part I am an advocate of “Buy right and sit tight”. That is: Buy great companies and hold on for the ride as the real money is made in the long swing as great companies compound earnings…
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Hard Assets > Digital Assets: Understanding The New Macro Regime
For more than 15 years, the best strategy which would have made you a fortune was simply to buy and hold The Magnificent 7. It was that easy. My premise is that that regime is now over and we are…
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PYPL Is Too Cheap And Will Reward Patient Shareholders
We live in an era of momentum investing. Value investing – especially deep value investing – is out of fashion. As a result, nobody is interested in PayPal (PYPL). But after Tuesday’s washout, the stock has simply gotten too cheap…
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The Enduring Legacy of Ayn Rand
Monday marked 121 years since the birth of Ayn Rand (b. Feb 2 1905). While relentlessly condemned and distorted by the mainstream media, Ayn Rand was one of the most important thinkers in the history of capitalism. The reason is…
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Oh SNAP! Why This Quarter Might Be An Inflection Point
Snapchat (SNAP) has been one of the worst stocks in the market over the last five years. It just hasn’t seemed to be able to get its act together. While young people seem to love the app, SNAP has been…
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CA Is In Permanent Decline
The positive is reducing exposure from a heavily regulated state versus CPT’s broader Sunbelt investment focus – Alexander Goldfarb, Piper Sandler Camden Property Trust (CPT) – an $11 billion Apartment REIT – is the latest REIT to decide to exit…
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CMG Is Still Priced Like A Growth Stock – But It No Longer Has Any Growth
Chipotle (CMG) reported another disappointing quarter after the close Tuesday with -2.5% comps. For the first time ever, full year comps were negative at -1.7%. Further, they guided 2026 comps to flat. This suggests to me that with more than…
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Two Big Stack Power Plays
In “Mastering The Big Stack” I discussed why most players rarely acquire big stacks and therefore don’t win tournaments and the challenges of playing the big stack: balancing aggression with self preservation. But I mainly focused on self preservation and…
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Beneath The Surface The Market Is Rotating Toward Defensive Names; A Regime Change May Be At Hand
There is something interesting happening beneath the surface in the market right now. While the S&P is on the verge of making new all time highs above 7,000, the stocks that are really working are defensive in nature. The S&P…
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Long DIS
Disney (DIS) has been struggling for years but I think this morning’s post-earnings selloff represents a nice entry. The stock has been consolidating for a long time and I thought the quarter was pretty good. Let’s talk about the quarter…
