Wilhelm Ropke (1899-1966) is a legendary and unfairly forgotten economist and his book A Humane Economy (1958) is literally the best book on economics I have ever read. Influenced by Ludwig von Mises as a young man, Ropke went beyond…
This is one of the four busiest weeks of the year when five of the Magnificent 7 that dominate the markets report 3Q25 earnings. It started Wednesday afternoon with Microsoft (MSFT), Google (GOOG/GOOGL) and Facebook (META) and continues Thursday afternoon…
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….
On Friday October 24 the S&P broke above the massive candle that had contained it for two weeks from Friday October 10. That’s a breakout and it puts the bulls back in charge. However, the market remains very thin and…
After reading Marcus Aurelius’s Mediations, I turned my attention to Gabor Mate’s The Myth Of Normal: Trauma, Illness & Healing In A Toxic Culture. Mate is a well known physician who has previously written a number of books on specific…
The S&P continues to trade within the 200 point candle from Friday October 10th defined by 6750 on the topside and 6550 on the bottom. From a technical standpoint, until we breakout of that candle one way or the other…
In my first quarter at UC – San Diego in the Fall of 1995, my suitemates dragged me to a bookstore. At the time I was a washed up former athlete filled with anxiety and self doubt drifting aimlessly through…
It’s been two weeks now since I wrote “How To Navigate A Bubble”. Since then, the S&P has tacked on another 50 points – from 6,664 to 6,715. Market timing is notoriously difficult. So difficult, in fact, that many of…
Nike (NKE) reported decent 1QFY26 earnings after the close Tuesday. Let’s be clear: these weren’t blowout numbers. Turnarounds of this magnitude take time. But it was a step in the right direction. Currency neutral revenue declined a less than expected…
Autozone (AZO) is a great stock. It is a high quality business that has compounded earnings over time and the stock price has corroborated that. I have followed it closely for years and owned it from about $2000 to $3000….