Thoughts

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Where Are Markets Headed?

Where we are might serve as a pretty good indicator of where we’re going. The trick is to actually observe what’s happening, not what’s being said. Fundamentally speaking, which I’m not very good at in

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My Forever Home

Nothing is forever. We all know it. Healthy and successful people prepare accordingly while others hope and wish for ideal. Trading preparation for hope is a losing formula. Seeking pleasure over preparation softens our muscles.

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Seeing is Believing

Changing someones mind with words doesn’t work. They need to see action. They need real life results. Nature requires us to adapt, but it’s funny to me that we build impenetrable walls in our minds

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Investment vs. Exposure

One makes you feel cozy. The other makes you feel afraid. One makes you feel like you have control. The other makes you feel like danger is always lurking. One has trouble managing risk. The

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No Pressure to Grow

Making money in the markets is hard enough without the added pressure of bloated business costs. The most important thing we can do as managers is to stick to our investing strategy (assuming of course

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Last Year Doesn’t Matter

I’m a New York Giants fan. They over-achieved this season and made the playoffs, but were very much a mediocre team. A few bounces here and there and they would’ve missed the playoffs. They finished

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What Are You Talking About?

Fundamental traders have been getting their teeth kicked in this year. Perusing through some Q3 letters recently, I see plenty of jargon explaining why performance has been so bad. “We are finding that our core

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Crazy, Stupid, Trends

As I’ve said many times, I am an anti-fundamentalist. I do not comb through a company’s financials or industry reports to calculate the “right” price for a particular stock or market. I do not buy

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The Perfect Entry

There’s a prevailing opinion out there that if you don’t get in at the perfect time then the opportunity is gone. Don’t bother with this investment anymore because what’s even the point, right? Better to

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Look to the Markets for Clarity

It’s confusing out there these days. There’s so much information about how the economy is doing, what inflation will do, whether jobs are coming back and the like. Trying to piece all if this (often

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Connoisseur Investors

As a lover of good wine, I understand the attraction towards the most prestigious brands. Petrus, Romanée-Conti, Château Margaux, Sassicaia, Opus One, etc. Not only do these producers have a history of making great wine,

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Why Investors Cannot Outperform Benchmarks

I wrote this five years ago on Medium, but I have some new comments below. https://medium.datadriveninvestor.com/why-investors-cannot-outperform-simple-benchmarks-d6a587a54967 So many people are focused on fees, liquidity and strategy transparency. Well, everyone can access their beloved index funds at

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Know Your Patients

Today, it’s all about scaling — raising a lot of money, managing a lot of money, growing the business every quarter and increasing the bottom line. It’s not conducive to putting the customer, investor or

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Reliable is Cool

We all love more features, more customization, more of the bells and whistles. We get bored with tried-and-true. We crave the new-and-improved even if it means taking on more risk. Opening the present becomes more

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