Category Archives: News

The Seven Deadly Sins of the Investment Advice Industry

No matter what your financial situation is, you may choose to work with one of the many providers in the investment advice industry. Because investing is such a high-stakes endeavor, searching for the right adviser can be a process fraught with emotion, uncertainty and stress. Investment consumers may understandably not even know the right questions to ask. The intent of this article is to provide some insight into the investment advice industry and how it operates, and to help stack the odds in your favor of finding a meaningful business relationship with a competent professional that has your interests at heart and gives you peace of mind.
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2019 Recap and What Now?

30%+ years in the stock market are rare indeed. They come along about once every 10 years. In 2019, receding trade tensions; diminished risk of a hard Brexit; interest rate cuts and liquidity injections by most major central banks; and improved sentiment about the state of the global economy all helped push stocks significantly higher. But the risk has heightened at this point simply by virtue of prices being 30% higher in one year. Moreover, a few clouds have begun to form on the horizon for investors to be aware. In this quarter’s commentary we explore some of the issues at hand for investors.
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The ‘Gig Economy’ and Investor Irrationality

There are two risks that long-term investors in individual stocks need to concern themselves with: 1) bankruptcy and 2) overvaluation. Earlier in the year, we opined that the Uber IPO would mark the top of the tech bubble. We were wrong. It is likely that WeWork’s attempted IPO last month will mark the top. In our 3rd quarter letter, we examine some of the underlying factors that have contributed to the silliness seen in today’s tech bubble (which will seem obvious in future hindsight), the real economics of some of the more popular unicorn companies, ‘growth' vs. ‘value’ investments, why growth stocks have outperformed, and why that’s likely to be over.
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