by Colin Symons, CFA | Nov 19, 2018 | Uncategorized
When we bought retail stocks in 2017 it was a deeply unpopular trade. Nobody wanted them, as apparently Amazon (AMZN) was going to take over the retail sector all by itself. There were certainly days early in the process that weren’t much fun. One of our retail...
by Colin Symons, CFA | Oct 4, 2018 | Uncategorized
“Mr. Market” is the idea that Benjamin Graham presented in his classic book The Intelligent Investor. The idea is that Mr. Market is a hypothetical investor who is driven by emotion. Right now it seems to me that Mr. Market is fat and happy after several years of...
by Colin Symons, CFA | Jun 27, 2018 | Uncategorized
In early 2000, tech (along with media and telecom) stocks could do no wrong. They were one decision stocks that took the whole market up with them… until they didn’t as 2000 continued. Reality has a nasty habit of intervening. Now, once again tech is the...
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...
