My personal investment style is to look for long term secular trends that put the wind in the sails of an industry and then find the best companies in those sectors to invest in. The pet industry is one of…
In his excellent book The Most Important Thing (2011), Howard Marks lists twenty different “most important” things. Some example chapters are “second level thinking”, “the relationship between price and value” and “being attentive to cycles”. All of them are what…
There is something not at all right when the weightiest decisions of a democratic republic depend so much on the mood of one man – Peggy Noonan, “A Republic, Not A Mood” [SUBSCRIPTION REQUIRED], WSJ Saturday April 4 The world…
We live in what Neil Postman called a “technopoly” in his book Technopoly: The Surrender of Culture to Technology (1992). Technopoly is defined by the surrender of culture, values and institutions to technology. Technology reigns sovereign in our culture. It…
There is very little interest in Nike (NKE) right now due to another difficult quarter Tuesday afternoon that has resulted in the stock having lost ~3/4 of its value since late 2021. While I have been following NKE for 2…
Most of us that have spent their lives in markets know what the macro environment greatly influences shares prices. The market cycles between bull and bear markets and if we could understand their dynamics and make adjustments, it would improve…
The S&P 500 closed just 9 points above its 200 DMA on Wednesday – a level it hasn’t traded below since mid-May 2025. The Magnificent 7 that have led this bull market since October 2022 are -8.73% YTD. The Equal…
I was lucky to catch an interview on Bloomberg early this morning while I was eating breakfast with Thomas Kennedy, JP Morgan Asset Management Head of Real Estate Strategy. What I especially liked is that he wasn’t wishy washy like…
On Monday, the market proved Michael Burry’s claim that this is the greatest buy the dip generation in history. Unconcerned with all the unknowns about how the situation in Iran will play out, the permabulls bought the opening dip and…
While the S&P is only about 2% off its all time highs, beneath the surface the market is showing signs of a top. Warren Pies tweeted today that there have only been two other times when Consumer Staples and Energy…
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