Innovation disrupts, but it also creates new jobs and improves the standard of living of society. AI will displace many jobs, but it will also empower people with new productivity tools.
I am about to discuss a topic that, for reasons that are unclear to me, has been politicized: oil and natural gas stocks. I am writing this as a pragmatic analyst who looks at two factors: supply and demand.
Unions have had a very important role in shaping the US and our laws over the past hundred years. I have read stories about how working in Chicago meat packing plants a century ago was as hazardous as enduring the trenches in World War I. Unions have fixed that.
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.
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.
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.
Many investors, including our clients, have been worried about their Schawb account safety. Are they right to be worried?
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.
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.
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…
Investors who own index funds have likely strapped themselves into a giant stock market roller coaster which, to this point, has only gone up.
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.
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?
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.