To Focused Compounding members: There are a couple sayings every modern investor and econ student has had drummed into him over and over again. One is: “there’s no such thing as a free lunch.” It sounds like the kind of thing an economist...
To Focused Compounding members: Back in 1991, Warren Buffett and Bill Gates were asked the same question. What one word described how they became successful. Both men said “focus”. Most investors I talk to understand the importance of...
Wednesday, March 21st: Summerset by Andre Kostolany Thursday, March 22nd: Fairfax Financial by Alex Middleton Friday, March 23rd: Keweenaw Land Association by Geoff Gannon To Focused Compounding members: There are two kinds of stocks out...
Richard Beddard recently wrote a blog post about company strategy. And Nate Tobik recently wrote one about how you – as a stock picker – have no edge. I’d like you to read both those posts first. Then, come back here. Because I have...
“Are we in a bubble?” Right now: This is the most common question I get. For a long time, my answer to this question has been: “yes, stocks are overvalued but that does not mean the stock market has to drop.” This exact...
Someone emailed me this question: “…how do you consider negative shareholder equity? Is this good, bad or other?” Before I give my answer, I apologize to the roughly 60% of my audience that I know is made up of non-Americans. I’m about to...
A blog I read did a post on goodwill. The discussion there was about economic goodwill. I’d like to talk today about accounting goodwill – that is, intangibles. Technically: accounting goodwill applies only to intangible assets that can’t...
A blog reader sent me this email: “Do you ever pay attention to insider transactions when analyzing a company?” I do read through lists of insider buys from time-to-time. I follow a blog that covers these kind of transactions. But, I...
© 2025 All Rights Reserved.