One of the things you learn from years of dealing with markets, is that you can’t turn your back on a market participant, but always turn your back on a crisis. Especially when it’s waving a razor-sharp hunting knife in … Read more
Leave a CommentDrivers of Value
102 Posts
Introduction Salespeople of all types are taught the doctrine of KISS: Keep It Simple, Stupid. A more specific version of this is the “elevator speech” to be used when meeting a client or prospective client in an elevator; it’s designed … Read more
2 Comments
The rapid selloff in the US Treasury market has come as a surprise to many, including such famous bond investors as Bill Gross, CFA, and Jeffrey Gundlach. As the chart below shows, 10-year yields on US Treasuries (10yr UST) are about 130 … Read more
4 Comments Introduction In studying investment managers for more than fifty years, I have learned that the roles that they have played through their lives have an enormous influence on how they invest. What is true for the professional managers is also … Read more
Leave a Comment
Once upon a time, Japan boasted one of the lowest divorce rates in the world. However, over the past two decades, divorces have escalated sharply. According to statistics from Japan’s Ministry of Health, among the 708,000 couples that were married … Read more
Leave a Comment Many of us who claim to be long-term investors (LTI) worship at the feet of Warren Buffett and actually own shares in Berkshire Hathaway — as I do, both personally and in the private financial services fund that I manage. … Read more
Leave a Comment Special Bulletin Before we posted our normal Sunday thoughts below, we received an email from London stating that Ralph Acampora is now looking for a 23% correction. To me this is an important message. Ralph Acampora is, in my opinion … Read more
Leave a Comment The Mae West quote that “too much of a good thing is wonderful” reflected her playful method of sexual innuendo and is the way many investors view credit ratings. Upon her other revelations, I do not believe that the burlesque … Read more
Leave a Comment
The rise in interest rates over the past few months has led some observers to pronounce an end to a long bull market in bonds. The yield on Treasury bonds maturing in 10 years jumped more than 100 basis points, … Read more
2 Comments