Articles
Stock Investors: You Have Nothing to Fear but Fear Itself
Stock investors must remain rational and guard against fear when approaching the stock market. Fear of missing out and fear of loss can lead to poor decisions which can result in buying high and selling low.
The Real Secret About Why Corporate Mergers Fail
Corporate mergers often fail because buyers pay too much. This is due to the control premium, the need for the buyer and seller to feel they are getting a good deal, and the false promise of synergies.
Mature Company Stocks Are Not Bonds
Dividends have historically been a large part of total stock returns and represent real earnings. Low interest rates have created a cult of dividend-paying companies, and some companies have had to borrow money to pay out dividends even if it isn't in their best interest.
Intellectual Investor Podcast
I am launching something new: the Intellectual Investor Podcast. It has been in the works for a few months, and I cannot wait for you to hear it.
Zurich to Nice – Travel Notes
I'm sharing my experience of traveling from Zurich to Nice, and I'm struggling to organize my thoughts into words.
Zurich to Nice
On January 28th, my brother and I are flying to Zurich to attend the by-invitation-only VALUEx Klosters conference. Attendees are expected to present and share their best investment ideas, and we will also get to ski and enjoy the food in the Swiss Alps. Afterwards, we will rent a car and embark on a six-day journey from Zurich to Nice, France.
Opioids Crisis & Drug Distributors
Pharma distributors have been wrongfully blamed for the opioid epidemic, because they are not actually responsible for the misuse of these drugs or the fact that doctors overprescribe them.
This Stable Value Stock Is Built To Weather Market Storms
It is hard to say anything about McKesson that we have not said before — it is a high-quality business with extremely cheap shares. McKesson is a pharmaceutical distributor with extremely undervalued stock.
Beats & Misses, Seen & Unseen
Wall Street often focuses on companies that beat quarterly estimates, but this does not always lead to long-term success.
Resetting Defaults – Managing Your Time
What I am about to share with you is somewhat random drivel about a topic that has been very important to me in 2018 – managing your time. I am anything but an expert on it; and in fact, as you’ll see, this is something I fail in and am trying to fail less.
Life Itself
My wife and I recently watched the movie Life Itself (available to stream for free on Amazon Prime). I am glad I didn’t look at ratings before I watched it.
The Market Right Now Doesn’t Care How Fantastic Your Stocks Are
Seneca's words that "time discovers truth" apply to the stock market, where long-term stock prices will reflect a company's true intrinsic value, but in the short term the pricing is unpredictable.
Why We Sold Apple Stock
Our firm sold its entire Apple stake last week due to concerns about mature iPhone sales, Apple's weak services, and the lack of a large new product category.
Stansberry Investor Hour Interview
I was interviewed by my friend Dan Ferris on the Stansberry Investor Hour show.
Personal Musings, November 2018 Edition
My friend Roben Farzad will be speaking at a TEDx Talks event in Hickory, NC, which I am excited to attend.
The Average Stock Is Overvalued Somewhere Between Tremendously And Enormously
We are having difficulty finding attractive stocks because the stock market is overvalued. We have chosen to focus on finding high-quality companies significantly undervalued, rather than trying to time the market. But where to find them?
Soul In The Game
Few people have had as great an impact on me as an investor as Nassim Taleb. His books explore the role of randomness in life and the stock market, and I incorporated his concept of "soul in the game" into our investment philosophy.
How A Stock Market Turns Investors Into Gamblers – Audio Edition
Today I am going to share with you an article I wrote after the January 2018 stock market volatility. It’s as relevant today as it was then.
My Self-Improvement Journey
I've been working on a book and as a result I made some lifestyle changes. Working on the book accidentally stirred up this whirlwind of self-improvement.
How To Invest In A Stock Market That’s Due For A Hard Landing
Global debt is growing, and stock markets are at their most expensive in the last 100 years. How to invest in a stock market that’s due for a hard landing?
Hug Your Kids
I spent a weekend at Laguna Beach with my family. We liked to start the day with a walk to a coffee shop and then spend the day at the beach. On our last day, my daughter Mia Sarah almost drowned in the pool because she doesn't know how to swim yet. I’ve been hugging my kids a lot more the past few days.
