June 2024

June 2024 To Our Business Partners GROUNDHOG DAY? A recent report in the Wall Street Journal noted that investors are once again moving back into the stock market.  Flows into stock and bond funds are [...]

2024-06-21T15:20:00+00:00June 21st, 2024|

May 2024

May 2024 To Our Business Partners STOCK BUYBACKS Public companies, like individuals and institutions, routinely buy their own company’s stock in the open market.  Some do it to offset the issuance of stock options to [...]

2024-06-03T18:49:45+00:00May 29th, 2024|

April 2024

April 2024 To Our Business Partners OBSERVATIONS  Things to ponder:  Due to sharply rising interest rates, the cost of interest on the U.S. federal debt now exceeds our country’s defense budget.  At the same time, [...]

2024-05-06T19:36:53+00:00May 6th, 2024|

March 2024

March 2024 To Our Business Partners MARKET CONCENTRATION ALL OVER THE PLACE We have often talked about the problem of concentration in market indexes.  Price levels of the popular U.S. stock indexes have been led [...]

2024-03-27T19:51:11+00:00March 27th, 2024|

February 2024

February 2024 To Our Business Partners MARKET CYCLES Throughout history, the financial markets have gone through relatively long cyles, interspersed with shorter intermediate cycles.  The latter usually receive the most attention and are influenced by [...]

2024-02-28T17:18:19+00:00February 28th, 2024|

December 2023

December 2023 To Our Business Partners THE PERIL OF PRECISION Last month we talked about how short-termism has affected the investment process over the last several years.  We think a major contributor to that phenomenon [...]

2023-12-20T19:18:49+00:00December 20th, 2023|

November 2023

November 2023 To Our Business Partners “SHORT-TERMISM” Short-termism has been a significant issue for several years now, but we think it has reached new heights in the last few years.  Short-termisim is defined as a [...]

2023-11-27T13:06:07+00:00November 27th, 2023|

October 2023

October 2023 To Our Business Partners ERRORS, COMMISSION & OMISSION As much as we try to live by our “investing with a margin of safety” tagline, we do from time to time make mistakes. We [...]

2023-10-20T16:54:33+00:00October 20th, 2023|

September 2023

September 2023 To Our Business Partners REVERSION TO THE MEAN? We use this term from time to time to describe how competitive forces in our economy generally push and pull economic activity, i.e. corporate profitability, [...]

2023-09-22T19:05:40+00:00September 22nd, 2023|
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