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….
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…
This is the strangest Fed Meeting in a long time according to the WSJ’s Nick Timiraos. Trump failed in his bid to remove Lisa Cook from the meeting as an appeals court ruled 2-1 Monday night that she could attend….
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…
I am becoming increasingly concerned about the manic nature of this market. The latest is example is the reaction to Oracle (ORCL) earnings Tuesday afternoon. Revenue and Net Income were +12% and +8%, respectively. But there were a few wild…
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…
As a value investor, one of the types of stocks you must learn to identify are value traps. These are stocks that look cheap but whose businesses are stuck and therefore the stock price is too. I personally like Best…