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Thoughts

Exclusive commentary and insights from Team CSC's deep fundamental research, repeatable investment process, and culture of continuous improvement.

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Category: Thoughts
Thoughts

FUN: Not Yet

This has become a recent new, large position. We buried the Lede in our Strategy Letter, so here it is unvarnished for those afraid of

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Jeffrey Bronchick, CFA September 10, 2025
CSC Strategy Letter

Strategy Letter | Number 60 | The Endless Summer

The very long cycle of ridiculousness continues in financial markets as judged by investor behavior in the usual suspects of “meme, crypto, return of the Spacs, credit recycling vs Chapter 11’s, the blind acceptance of Continuation Fund pitches and Washington DC output.”

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Jeffrey Bronchick, CFA September 3, 2025
Economics at Large

The Mundanity of Excellence

Process. Interesting. Re-read annually. Deleted half the lists and ideas in the “get to it later” email folder. Reading outside the obvious. Hacking the CSC

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Jeffrey Bronchick, CFA September 2, 2025
Markets, Rationality & Decision Making

OK, A Little Jealous

This was from a recent Wall Street Journal article. I would simply like to be on an investment committee being pitched “let’s give the kid

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Jeffrey Bronchick, CFA August 13, 2025
Markets, Rationality & Decision Making

Now This Could Be Funny

revise the definition of “accredited investor” from high-net-worth individuals to anyone who passes a federally mandated exam

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Jeffrey Bronchick, CFA August 5, 2025
Economics at Large

Buffett and the 4th of July

Yes, there are some people who think it is fun to read the 1977 to 1997 Berkshire Hathaway shareholder letters on the Beach. It is

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Jeffrey Bronchick, CFA July 9, 2025
Economics at Large

The Numbers Game

This is a speech given in 1998 by Arthur Levitt, the SEC Commissioner. He obviously had a sense of the nature of man and money,

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Jeffrey Bronchick, CFA July 7, 2025
Markets, Rationality & Decision Making

From the Journal of Easier Said Than Done

Charlie Munger, the former vice chairman at Berkshire Hathaway, has a take on drawdowns worth quoting in detail: “I think it’s in the nature of long-term

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Jeffrey Bronchick, CFA June 9, 2025
The Business of Investment Management

Failing the Test

hiring a consultant to find out what people are thinking is…A Fail.

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Jeffrey Bronchick, CFA June 6, 2025
Economics at Large

Tariffs Do Not Rock

Anyone who uses electrical components is a giant importer. This is a good look at what is happening on the border now. Not pretty. To

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Jeffrey Bronchick, CFA June 2, 2025
Markets, Rationality & Decision Making

Buffett and the Successor’s Curse

Rarely has a man been so quoted and so rarely followed, except maybe Christ and Mohammed. “Dude, I was at Berkshire with my buddies…are you

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Jeffrey Bronchick, CFA May 6, 2025
Markets, Rationality & Decision Making

Trent Reznor and Corporate Governance

Yes, it’s corporate governance season and I have spent two awful periods of time recently: watching the LA Kings and the stupendous waste of time

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Jeffrey Bronchick, CFA May 2, 2025
Economics at Large

Reading Season

And I don’t mean 124 word Tweets. Annual Reports, 10-K’s and Proxies are “basic” and one would think everyone reads them so where is the

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Jeffrey Bronchick, CFA April 10, 2025
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