“If you don’t know where you are going, you’ll end up somewhere else”….. Yogi Berra “It’s only when the tide goes out that you discover who’s been swimming naked”…Warren Buffet “The stock market can stay irrational longer than you can stay solvent”… Unknown Clients keep coming to me, wondering where we are going with this Continue Reading >
May 2020 Commentary and Investment Returns
“Investors must always distinguish between what they think the market should do and what the market is actually doing. If one were to base their investment decisions solely on [the financial news], their portfolio would still be in cash after missing the S&P 500’s 37% rally off the March 23 low”….. Lowry Market Trend Analysis Continue Reading >
April 2020 Commentary and Investment Returns
“Stock trading is an activity where people with money meet people with experience. After spending the day together, they exchange assets and go home”….Unknown “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful”…Warren Buffet Where are we, at the end of April 2020? The stock Continue Reading >
March 2020 and YTD Q1 Commentary and Investment Returns
From a trader after the market crash: “This is worse than a divorce. I’ve lost half my net worth and I’m still married.” Where are we, at the end of March 2020? There are many things to discuss after the month of March. It was an unprecedented decline in terms of speed and depth (except Continue Reading >
February 2020 Commentary and Investment Returns
The stock market may be bad, but I slept like a baby last night. I woke up every hour and cried… (unknown). In summary, despite its speed and severity, the current market pullback has antecedents in similar market declines over the course of the current bull market [since 2008]. Most importantly, though, there was little Continue Reading >
January 2020 Commentary and Investment Returns
Einstein enters Princeton for his first day of work. The Dean leads him to the faculty lounge and begins introducing him to professors. “Here are your first colleagues; they have IQs of over 180”. Einstein says “Wonderful. We can discuss quantum physics”. Another colleague reaches out to shake his hand and remarks “I also lecture Continue Reading >
December 2019 and Year 2019 Commentary and Investment Returns
An investment banker asks a fisherman, “What do you do when you’re not fishing”, to which he replies, “I sleep late, play with my children, take siestas with my wife, stroll into the village each evening, where I sip wine and play guitar with my friends. I have a full life.” The investment banker explains Continue Reading >
November 2019 Commentary and Investment Returns
After years of scrimping and saving a husband told his wife the good news: “Honey, we’ve finally got enough money to buy what we started saving for in 1979.” “You mean a brand-new BMW?” she asked eagerly. “No,” said the husband, “a 1979 BMW.” And then you have this aphorism: “Modern Slaves Are Not In Continue Reading >
October 2019 Commentary and Investment Returns
American capitalism: “You have 2 cows. You sell 3 of them to your publicly listed company, using letters of credit opened by your bank, then execute a debt/equity swap with an associated general offer so that you get all 4 cows back, with a tax exemption for 5 cows. The milk rights of the 6 Continue Reading >
September 2019 and YTD Commentary and Investment Returns
A woman hears from her doctor that she only has 6 months to live. The doctor advises her to marry an economist. The woman asks, “Will this make me live longer?” The doctor answers, “No. But it will seem longer”.- unknown Where are we, at the end of September 2019 and YTD? Sorry for the Continue Reading >
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