Serious investment thinking that doesn’t take itself too seriously.
Originally published June 2023. When the shōgun of value investing in Japan says "jump," my only possible response is "Hai, sensei! How high?” So, it is no coincidence that when...
The medieval knights of Europe wreaked havoc on the Levant’s kingdom of heaven in their quest for the holy grail. The leveraged gunslingers of Wall Street wreak havoc in...
Lehman Brothers was a legendary Wall Street partnership before a civil war over bonuses between its bankers and traders forced its sale to American Express in 1984 and led to its...
The big chill of recession and a banking panic now haunts black gold, exactly as it did in the last six months of 2008 when Brent crude plunged from $148 a barrel in July to...
The data and price action last week reinforce my conviction that Wall Street risk assets are now in a classic Catch-22, heads I win/tails you lose scenario. The strong economic...
I wrote a post on global equities and discussed Bob Iger's return to Walt Disney earlier this week. Coincidentally, I had lunch on Wednesday with an old friend who happens to be...