Stock Analysis
Want to Be a Better Investor? Stop Staring at Your Portfolio
Investors often make irrational decisions due to fear of missing out or fear of loss. To reduce irrational decisions, investors should avoid constantly watching their portfolio.
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.
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.
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.
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.
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?
Investors Have Misdiagnosed Amazon’s Push Into The Pharmacy Business
Companies are worried about Amazon's potential entry into the retail pharmaceutical industry. However, a slower changing older population, combined with the fact that Amazon's sales would only represent a small portion of total drug sales, suggests that it is unlikely to have a significant impact on the industry.
Questions I’d be Asking If I Owned Tesla Stock
Here’s a big question I’d be asking if I owned Tesla stock: What happened to 345,000 reservations?
Why My Firm Sold Short-Term Bond ETFs and Bought U.S. Treasury Bills
Recently my firm replaced all of our short-term bond exchange-traded funds with U.S. Treasury bills. The core motive for this decision was not to pick up a few points of extra yield, though that’s a nice bonus.
What Would You Get if You Crossed Warren Buffett, Richard Branson and Steve Jobs? (Updated)
When we bought SoftBank a few years ago it was relatively unknown to most US investors. Some of our clients even thought it was a bank. Today Softbank is a daily staple in the business news.
London Value Conference Presentation (Q&A)
I had the pleasure of speaking at the London Value Conference, which was a terrific, first-rate event. I did not make a formal presentation; instead I did Q&A with my friend, the wonderful David Shapiro.
Socially Irresponsible Investing
Socially responsible investing. Awesome! What’s not to love – your capital doesn’t just enrich your life, it also flows only to companies that do social good.
