SPACS, the New Investment Trusts that Were Part of the 1929 Crash

Investment Trusts were first introduced in the U.S. around 1926, in the form of trading corporations, with the sole purpose of investing pooled capital into stocks. And like many new investment…


Selling Volatility

Selling volatility is a unique way to enhance portfolio returns.  We have been doing this for years by selling puts in stocks we would want to buy.  The way we accomplish this is fairly simple. We…


Beta the Measure of Volatitlity

Beat Your Beta- the Measure of Volatility

Beta is a mathematical construct deeply embedded in academic models of stock valuation.  It's inherently flawed and investors should understand it. Simply put, the concept of beta makes perfect…


Review your returns

Even a 5th Grader Reviews His Returns

Even a 5th grader reviews his work.  You would be surprised at how many smart men and women who command complete respect at their jobs, have years of professional training like doctors and…


Its percentages not dollars

It's Percentages that Count, Not Dollars

This seems too obvious but how many times have you heard people sit around and talk about how a stock went up $10 today or $20 and it was only a half percent. $20 on Amazon is not even 1/2 percent…


Investors Scramble for Yield as Growth Outlook Darkens

A recent article in the Wall St Journal and the accompaning picture stood out like a sore thumb.  While investors are wrestling with historic low yields on government and corporate bonds, “Investing…


Rule #1 Don't Lose Money Rule #2 Don't Forget Rule #1

This may be the most famous of all of the famous Buffett aphorisms. With his dry sense of humor, Buffett Says Rule #1 Don't Lose Money, then he quips, Rule #1 Don't forget rule #1.  One of the things…