How To Navigate A Bubble
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…
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The Big Day Is Here: Understanding What The Markets Wants From The Fed
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….
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How And Why I Invest In Stocks Outside My Circle Of Competence
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…
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Wild Days: ORCL +$200 Billion, 911,000 Disappearing Jobs, Thin Leadership = 9th Inning
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…
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Is This The Top? Reflections On Cycles And Macro
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…
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BBY Is A Value Trap
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…
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Long Rates Hold The Key To Markets
The consensus after Fed Chair Powell’s speech Friday morning at Jackson Hole is that the Fed will cut rates by 25 basis points on September 17. Therefore interest rates are going lower, right? Not so fast. The Fed controls the…
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The Market Fears Hawkish Powell – And Rightly So; WMT Earnings
The market is selling off Thursday ahead of Powell’s keynote speech tomorrow morning at 10am EST at Jackson Hole. The odds of a 25 basis point cut on September 17 have decreased from 92% a week ago to 73.5% today….
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A Better Way To Play The Buffett Bottom In Health Insurers
When Berkshire Hathaway’s 2Q25 13F was released last Thursday afternoon revealing that Buffett had acquired 5 million shares in reeling health insurer United Health (UNH) investors piled into the stock and it likely put a bottom in on the health…
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The Education of an Investor II: Quality > Price
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 –…
