It seems that every year I think we have finally reached the peak of crazy, only to be proven wrong the next year. The stock market and thus index funds, just like real estate, have only gone one way – up. Index funds became the blunt instrument of choice in an always-rising market. But you don’t have to be a stock market junkie to notice the pervasive feeling of euphoria.
Tag:
Coca-Cola
I was recently going through a new client’s portfolio and found it full of the likes of Coca-Cola, Kimberly-Clark and Campbell Soup — what I call (pseudo) bond substitutes. Each…
Last week I explained why my firm is investing in pharmaceuticals stocks, despite the sector being a favorite punching bag of politicians. I noted that we have recently added to…
Great Stock = Great Company + Great Valuation (Apple vs Coke) Valuation – margin of safety (discount to fair value) – solves a lot of global problems. Let’s take Apple…
I originally wrote this piece in 2016, but it’s just as relevant today. “This is a very bad, incoherent piece.” I received this feedback from a reader concerning an article…
I organize a conference every summer called VALUEx Vail. Vail is a quaint, beautiful, ritzy ski resort town tucked away in the gorgeous Rocky Mountains, about 100 miles from Denver.…
In crazy times like today, all one could and actually should ask for is sanity. Yes, sanity–a clear mind free of noise to deal with the insanity that is thrust…
This is an excerpt from a comment I read on Daily Speculation. It is such a common misperception that I had to write a response: “Great stocks [Google, Apple] are…