March 2023 To Our Business Partners FINANCIAL ENGINEERING Warren Buffett’s (CEO, Berkshire Hathaway Inc.) letter to shareholders was recently released, and one of the things he talked about was the questionable practices involved in public [...]

February 2023 To Our Business Partners A TALE OF TWO TAILS ... and the dangers of indexing and being tied to a benchmark index.  Most popular stock indexes, such as the S&P 500, are capitalization [...]

January 2023 LETTER OF VALUE Ruminations for investors seeking to enhance their wealth using the principles of VALUE INVESTING To Our Business Partners As you know, we write to you monthly [...]

December 2022 To Our Business Partners ARE WE THERE YET? As we write this, the stock market is going through another period of volatilty which has become all-too familiar over the last year or so. [...]

November 2022 To Our Business Partners SPECULATIVE PAIN In May of last year we wrote about what we saw as the folly of cryptocurrencies.  We had observed at the time that we couldn’t determine that [...]

October 2022 To Our Business Partners EFFICIENT MARKETS? The Efficient Market Theory (EMT) was presented to the investment community in the mid-1960’s.  It posited that stock prices reflected all known factors, are efficiently priced, and [...]

September 2022 To Our Business Partners FORECASTING At the risk of contradicting ourselves (we talked about likely future stock market returns last month), we’re going to address the practice of making forecasts about the economy [...]

August 2022 To Our Business Partners STEALING FROM THE FUTURE The ten years through the end of last year produced compounded annual investment returns well above the long-term average and is among the highest produced [...]

July 2022 To Our Business Partners WE’RE STILL GROWING! After 24 years of being a twosome, we’re increasing our employee headcount by 50% with the addition of Andy P. Ramer, CFA to our team.  Andy, [...]

June 2022 To Our Business Partners HOPE ON TOP OF HOPE Your writers believe that the speculative stock market bubble that has been building up over the last several years has finally burst. Among the [...]