2019 Portfolio Update

10/25/19 For the first ~3.3 quarters of 2019, Shaperfunds generated a total return of 28.40% versus 20.55% for the Standard and Poor’s 500 Index and 16.96% for the Total World Stock Index.  Since the beginning of 2015, Shaperfunds generated a total return of 76.22% versus 61.83% for the Standard and Poor’s 500 Index and 42.71% […]

Q4 2018 Investor Letter

January 9th, 2019 For the fourth quarter of 2018, Shaperfunds generated a total return of -7.32%, versus a -13.97% return for the Standard and Poor’s 500 Index. The out-performance in the quarter was, in large part, due to the out-performance of the largest holding, Tesla Inc (TSLA), which was not always the case in 2018. […]

Portfolio Update 9.19.18

Return Since Inception, 12.31.14: 59.21% Vanguard S&P 500 ETF Div Adj Return Since 12.31.14: 52.38% Return YTD: 6.12% Vanguard S&P 500 ETF Div Adj Return YTD: 10.11% It was been a wonderful couple of years balancing my love for value investing with world changing technology. The style split works out to be about 50/50 of […]

Spotify is Uniquely Positioned to Challenge Big Tech

I recently read Scott Galloway’s book, The Four: The Hidden DNA of Amazon, Apple, Facebook and Google. The book breaks down what it takes to become one of the largest and most influential companies in the world. It’s both fascinating and terrifying. We’ll skip the terrifying aspects for now. According to Professor Galloway’s research, several […]

Are Stocks Overpriced?

The average S&P 500 PE Ratio is 25.87, 65% greater than its long-term average of 15.68. The Shiller PE ratio, or cyclically adjusted PE ratio, sits at 32.65, 100% above its long-term average of 16.8, and the 14 day Relative Strength Index (RSI) is 72. By these metrics, it’s not a great time to be […]