Originally published in the Wall Street Journal. When a 59% Annual Return Just Isn’t Enough Investors appear to be growing more and more optimistic about
You might have heard about this “Green” thing. On an unemotional basis, estimates are thrown around regularly that “we” (whether that includes China, India, Brazil,
We know all too well that what has worked recently is owning low-ROE and non-earning companies. But going forward, isn’t it reasonable to expect solid
There are large elements to truth in this piece, but it also references a period where NOTHING was easier and smarter and cheaper than being
Read last quarter’s Strategy Letter here. June 2021—Be forewarned – we are going to empty the quote bin this quarter. Let’s start with one Robert Smith,
We manage other people’s money so it is only fair that we are compared to something. The Russell Index mafia is that something and calling
An interesting piece about “stakeholders” and how the theory flies in the face of a LOT of reality. Excerpt below. Original article appeared in City
Republished from Almost Daily Grant’s, a Grant’s Interest Rate Observer daily newsletter. Under The Hood A Different Kind Of U-Turn. Electric Vehicle Hopeful Lordstown Motors
I read a lot. And cut and paste a lot. And save a lot of things, From time to time, I don’t feel like “working”
“Servicers who put struggling families first have nothing to fear from our oversight, but we will hold accountable those who cause harm to homeowners and
There are lots of things that OWNERS should hate about Exxon, all of which are related to their last decade of capital allocation in their
As an investor, if you spend the majority of your time looking at larger cap companies, it is truly hard to appreciate the wacky and
