“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very…
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Good from Far, but Far from Good
Markets After Major Geopolitical Events
“The world changes. This is the biggest problem in markets.” – Bill Miller, former chairmen of Legg Mason Capital Management T. Rowe Price, founder of the Baltimore-based investment firm that bears his name, wrote an essay in 1937 titled, “Change...
read moreScratching Your Degenerate Itch
“Bad bets sometimes pay off.” – Marty Rubin, Canadian Author There’s been a stir in financial media about Robinhood traders bidding up bankrupt companies to…
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Investing Cash in a Runaway Market
“Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” – Peter…
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Does Your ESG Approach Pass the Smell Test?
I was perusing my LinkedIn feed when a particular post caught my eye. For the record, I have no clue who Mark A. Smith is….
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Municipal Magic
“You can take advantage of pockets of opportunity in what people don’t want.” – Jeff Gundlach, DoubleLine CEO We’ve been fielding a decent number of…
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Waking up After a Yearlong Coma
“Every once in a while, the market does something so stupid it takes your breath away.” – Jim Cramer The date is April 29th, 2019….
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The Plight of an All-Equity Investor
“The stock market is the story of cycles and of the human behaviour that is responsible for overreactions in both directions.” – Seth Klarman, CEO…
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Bear Market Rally or Did We Hit Bottom?
“A cycle like this does not end with a mere month-long correction. A real bear market is only over when no one is interested in…
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Bear Market Assessment: What We Got Right & Wrong
Lawrence Hamtil runs a wealth management firm in Overland, KS. He posted the above self-assessment on Twitter on his portfolio positioning prior to the COVID-19…
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