by Colin Symons, CFA | May 11, 2018 | Uncategorized
Introductory Note: A Distant Mirror is the title of a book by historian Barbara Tuchman about the Middle Ages, talking about how human nature doesn’t change and we can draw useful lessons from the past – if we would only pay attention. I believe the book is...
by Colin Symons, CFA | Apr 3, 2018 | Uncategorized
FANG-type (Facebook, Amazon, Netflix, and Google) stocks recently had their worst day ever. Should we care? We shouldn’t care just because they had one bad day, but we should care. Why? Let’s compare it with the last tech drawdown in February 2018. After...
by Colin Symons, CFA | Jan 22, 2018 | Uncategorized
Somebody must be excited, with markets hitting or beating peak valuations set in 2000. For instance, Enterprise Value/Market Capitalization is near the peak set in March of 2000, and Warren Buffet’s favorite valuation measure, Market Capitalization/GDP, is above...
by Colin Symons, CFA | Oct 13, 2017 | Uncategorized
On September 14th, 2007, Northern Rock Bank failed in the UK. Nowadays some people mark that as the beginning of the end of the market boom that had been going on. But at the time no one seemed to much care about a bank failure triggered by the commercial paper market...
by Colin Symons, CFA | Jul 28, 2017 | Uncategorized
The general consensus seems to be that central banks, after unleashing a flood of money over the last several years, are now looking to tighten conditions. The Fed has already raised rates and the ECB and Fed are both talking about letting their balance sheets run...
