03 Apr That Was Fun While it Lasted – Now What Do I Do?
For the last couple of years what has worked exceptionally well in the stock market has been an exciting story along with above average sales growth. Money has flowed into these types of...
08 Jan Shooting Fish in a Barrel?
Wow, 2017 turned out to be quite a year! All the major indexes recorded gains of over 20%, hitting all-time record highs while volatility was hitting an all-time record low. A new record...
14 Nov An Update on General Electric and Cameco
I regretfully elected to sell General Electric today @ $18 after listening to new CEO John Flannery discuss the current outlook for the company and the prospects going forward. I should have made...
05 Sep Portfolio Update – September 2017
A few comments on both new and existing additions to the Top Holdings. The companies mentioned are all leaders in their respective industries and because of near term concerns have declined to a...
17 Jul General Electric – Turning Point?
Top Holding ‘GE’ has been in the portfolio since 2011 and has recently come under significant pressure due to being the worst performing Dow stock since Chairman Jeffrey Immelt took over the reins...
05 Dec The Mighty Dollar
As most of you know, I like to use the media as a contrarian indicator. Normally by the time a theme has generated enough attention to grab the cover story of a major...
02 Dec The Next Ten Years Are Likely To Be Different
Wow! Patience and diversification may win in the long run, but for the last few years, it’s cost a lot of investment managers their jobs. What has worked has been to be ‘all...
29 Jun 12% Six Years, 2.4% Thirty Years
Thirtytwo years ago I started my investment career with Dean Witter Reynolds in Las Colinas. At that time, you could double your money in risk-free US Treasury bonds, paying 12% in approximately six...
01 Feb The Defense is Still on the Field
Last October, I wrote a letter entitled ‘At Least you are Aware’ describing my concerns regarding the stock market and several defensive strategies that I believed were appropriate at the time. The market...
06 Oct At Least You are Aware
I thought I would give you a heads up on a longer term picture of the S&P 500. As you can see from the 20–year chart above the market took a turn for...