Stock Analysis

Why I No Longer Mind Losing an Argument

Why I No Longer Mind Losing an Argument

Reflecting on my experience with Dale Carnegie's book, I share how it transformed my approach to criticism and debate, and why I no longer mind losing an argument.

How do I get any research done since I travel a lot?

I get asked at times: How do I get any research done since I travel a lot? To answer this question, I need to explain how we do research.

The Growing Pains of Maturity

The Growing Pains of Maturity

Many times, we bought because they were in their “junior year”; this is what made them undervalued. Our research led us to the conclusion that their difficulties were transitory and that as they matured the market would revalue them.

What is the Value of Apple? How do we evaluate risk?

What is the Value of Apple? How do we evaluate risk?

Today I will share the Q&A section of the letter. Every time I am almost finished with the client letter, I ask clients to send me any questions they have about their portfolio or other topics. I answer these questions in the Q&A section.

Vision Pro is the Vision of the Future

Vision Pro is the Vision of the Future

I have read reviews of Vision Pro, Apple’s virtual reality headset. Meta’s Quest Pro suddenly started to remind me of Microsoft PCs – made by engineers for engineers, where the Vision Pro is created by humans for humans

A Story about a Story

Apple is the best storytelling company on the planet. In its storytelling, Apple so wants you to fall in love and have an emotional connection with its product that it even names the parts that go into it.

You are – What you think about (Recession, Economy, Stock Market)

I’ve been asked by many readers and some clients for my thoughts on the economy and recession.As I am typing this, I’m thinking about how much ink I should be spilling on writing about the recession and how much time we, as investors, should be allocating to thinking and worrying about it.

Should I be worried about the safety of my Schwab account?

Many investors, including our clients, have been worried about their Schawb account safety. Are they right to be worried?

Libertarian’s (Unexpected) View on the Bailout of the Banking System

Bailout of the banking system create social tension. Eventually, bailouts introduce so much risk into the system that failures and bailouts become too costly for the society to bear, government creates draconian rules trying to prevent them in future, which in turn kills innovation and the formation of new businesses, and the result is a stagnating economy.

What to Expect After the Silicon Valley Bank Collapse

The Silicon Valley Bank collapse may be an extreme event, but it gives us a preview at a 100x magnification of what other banks are facing.

The Stock Market, The Economy, Possible Outcomes, How to Invest

This is part one of the winter seasonal letter I wrote to IMA clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before. Instead of conveying my message through storytelling, I tried to compress my thoughts into short sentences…

Why we’re confident in our Charter investment

The CHTR decline may have kicked us in the face, but our extensive research is telling we’re not wrong about our Charter investment. Here’s why:

Stock Market Roller Coaster: Prepare for a Decade or Two of Disappointing Returns!

Investors who own index funds have likely strapped themselves into a giant stock market roller coaster which, to this point, has only gone up.

Why we’re not celebrating the vindication of our investing principles

Value investors have had a miserable time over the past years. Now that our investing principles are finally being vindicated, you’d expect us to gloat. But Herr Schadenfreude is not a friend of ours.

How Greed and Leverage Destroyed the Crypto Tulip Market

Crypto currency was touted as antidote to central banking. But with its own flaws, is the system itself to blame for this crypto market crash?

Why non-transitory recession is coming and how to face it as an investor

Recessions are like forest fires – small ones are healthy for the forest. However, the longer you suppress fire, the more dead material the forest accumulates. Eventually, when it does pay a visit, it is more devastating and its effects are more long-lasting.The recession that is coming could be a big fire.

Curmudgeon on Cryptocurrency

Curmudgeon on Cryptocurrency

I share a story about when four separate people asked me about "investing" in cryptocurrencies, as well as my thoughts on Bitcoin and other crypto-assets.

Are housing prices about to drop? A value investor’s take

Inflation is on the rise in the US. So are the interest rates. So what about the housing market? Are we going to see housing prices decline? Read below to find out.

Random Thoughts on the Russian War in Ukraine (Hint: It’s Not Going Well for Russia)

The following is a loose collection of random thoughts and observations on the Russian invasion of Ukraine. Rather than a coherent article, I offer some insights that have emerged as the war has dragged on.

IMA is not for everyone. I’m fine with that!

How great alignment with clients creates the perfect recipe for long-term compounding. (And I get to drive my kids to school.)

A Value Investor’s Analysis of Student Loan Forgiveness

A Value Investor’s Analysis of Student Loan Forgiveness

Individual impact aside, Biden’s student loan forgiveness will also affect the US currency and economy. Here’s how we see it as value investors.