A Wealth of New Ideas

  • I Really Love What You’ve Done With The Place.

    We are biased towards companies whose market position can be described as fortified in much the same way knights and lords protected their lands and subjects over a thousand years ago.

  • A Recent Market Update Letter to Clients Shared

    We don’t worry about the consequences of being correct, we worry about the consequences of being wrong. If we are going to be wrong we intend for that to happen in periods of holding too much cash than owning too much stock.

  • China: Actions Speak Louder Than Bombs

    The question for us is not when China’s government will alter course from direct intervention but how soon. Is now the time to be wading back in to emerging markets equities?

  • Shall We Play A Game?

    Make no mistake about it there is a global chess game between the US and China and today’s move is a gambit.

  • Leggo My Greco

    If you’ve been near a TV or computer this morning chances are you are aware today has been a not-so-nice day for long investors. Thankfully it is not nearly as bad as the last time Greece was the big story.

  • Please leave an interesting voice mail.

    We attempt to remain wide-eyed when observing the world around us, always looking for interesting kernels we can store away for future use. Of most interest to us is information that challenges or completely changes what we previously believed.

  • A Few of Our Favorite Cognitive Biases

    While we can never rid ourselves of our cognitive biases an attempt to identify and understand them may help us to make better decisions. Ultimately isn’t the ability to make good financial decisions what clients expect?

  • Contango Lessons

    Just so we’re on the same page contango is not a traditional Spanish dance performed by unnaturally fit young men and beautiful women in long flowing gowns. I will neither confirm nor deny that I embarrassed myself by making that mistake upon first hearing the term early in my career.

  • Doctor, doctor! Give me the news, I’ve got a bad case of loving the EU?

    The physician has written the prescription for Europe’s fiscal woes.  The Euro-zone will have its own dose of Quantitative Easing (QE) as announced by European Central Bank President Mario Draghi.

  • Squash, Probabilities and Expectations

    Please allow us to acquaint you with one of the most amazing people alive today. We struggle to think of any individual who has more completely dominated their sport, and done so not over years but over decades. The sport? Women’s Squash, of course.

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