“The key is to wait. Sometimes the hardest thing to do is to do nothing.” -David Tepper Advertisements

Probably the most discounted and distorted issue in the 2016 US presidential election was the displacement of American jobs by automation and machine learning. The President-elect blames these disruptions on bunk trade pacts, immigrants and overregulation. I believe this is dangerous and needs to be talked about fairly. In 2013, Carl Benedikt Frey and Michael […]

I’ve had an exciting month. I had two positions rise ~20% on the same day, Twitter (TWTR) and Bats Global Markets (BATS). I’ve also had two significant positions, American Express (AXP) and PayPal Holdings (PYPL) rise ~10% last week week. Those big moves were partly offset by underperformance in my two largest positions Gilead Sciences (GILD) and Under […]

Brilliant chart from the Leuthold Group. We are in the third longest and sixth largest bull market in history. Look at the second largest. 400% in 55 months following the great depression. Could you imagine the uncertainty? Seemingly everything was unprecedented at that point.

Elon Musk’s decision to attempt an acquisition of SolarCity in an all-stock deal wasn’t because of impending financial doom at SolarCity, though that may have contributed. Incorporating solar was part of Elon Musks original master plan written 10 years ago. This is a logical time to buy solarCity based on Tesla’s progression and a current focus […]

Flooding of Coast, Caused by Global Warming, Has Already Begun The market is discounting the effects of global warming. I worry for oblivious, and often old investors chasing yield in worn out oil names.

“If you desire a ride to Baghdad, here is a magic carpet; if you desire your enemy dead, here is a magic doll; if you desire unlimited riches, here is a forecast of interest rates.” – Deirdre McCloskey