From the end of the trading day on November 9, 2016, after Donald Trump was elected President, to the beginning of February 2018, the stock market generally went up uninterrupted. We had 16 months of uneventful happenings in the stock […]
Author: Ben Strubel
A Rational Look At US Trade Policy
Dear Investors, The big news lately has been Trump’s announcement of a 25% tariff on imported steel and 10% tariff on aluminum. The market took the announcement as a shock (dropping a bit over 1% for the day) although the […]
The Market Is Mad That Its Dream Came True
The current stock market correction offers a great example of two things: (1) how ridiculous investor–or market–psychology is; and (2) how dumb Wall St. products can be. I’ll also tell you why I don’t think the current market correction is […]
![By User:klip game (Own work) [Public domain], via Wikimedia Commons](https://mk0valuewalkgcar7lmc.kinstacdn.com/wp-content/uploads/2016/08/Small-Cap-Industrials-1-270x200.jpg)
FANG Stocks And The Market “Crash”
Dear Investors, I’m sure everyone is wondering about the mini “crash” (crash-ette? perhaps?) we saw Friday and Monday. I think it’s important to keep a few things in mind. Given that an increasing amount of trading is done by computers […]
The Republican Tax Plan And The Stock Market
I’ve seen a fair amount of commentary that the stock market is overreacting to the tax bill and that stocks have gone up to far too fast. So, in this month’s newsletter, we’ll talk about the new Republican tax plan. […]
Why We Became A Believer In Amazon Stock
We live in a world characterized by slow economic growth and the stock market is trading at moderately above average multiples. You can’t just rely on buying stock in a good company and depending on 3% economic growth to drive […]
Tobacco Stocks And Health Care Stocks
In this newsletter we are going to talk about two related yet unrelated topics: health care and smoking. Also read: Q2/H1 Hedge Fund Letters – Letters, Conferences, Calls, And More Baupost Letter Points To Concern Over Risk Parity, Systematic Strategies […]
Is There Another Tech Bubble?
I’ve recently been hearing a lot of questions about whether or not we have another tech bubble. It’s understandable for investors to be worried. After all, we have had two stock market bubbles in the past two decades and people […]
No Points For Bravery In Investing
You don’t get points for bravery in investing. You get points for being brave in real life. Everyone admires and celebrates the true heroes—the firefighter that rushes into a burning building to save a family, the police officer that responds […]
United Technologies (UTX) – Otis Elevators In Focus
This month’s newsletter is short. We’ve written far more about Donald Trump than we care to (and probably far more than you have wanted to read). The markets are up modestly. The economic and political landscapes across the globe remain […]