May 26, 2010

Coober Pedy


I’m at a truck stop in Coober Pedy eating my second spaghetti on toast in less than a week. I thought I had sworn off canned spaghetti at age 8, but the alternative is overcooked mystery meat of a questionable vintage. The outback is slowly making sense to me. Practicality trumps most other impulses. As I get ready for the drive to Uluru, I ... Read More
Categories: Travels
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May 22, 2010

Bendigo


The Great Ocean Road I’m on the way to Adelaide and have stopped at a coffee shop in Tailem Bend, South Australia. If you can find this place on a map, you have a better map than me. I have just driven the Great Ocean Road between Melbourne and Adelaide. I’ve driven on a lot of scenic roads before; this is clearly one of ... Read More
Categories: Comments On Events
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May 20, 2010

My Currency Epiphany


I’m in Gundagai New South Wales at a charming café having buttered toast with canned spaghetti on top. I’m told it’s an Aussie delicacy. I’ve driven nearly 500 km from Sydney and have already had my first epiphany. It is said that generals always prepare to fight the last war. This cannot be truer when it comes to investing. For decades, currencies have fluctuated ... Read More
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May 16, 2010

Escaping The Next Data Point…


I am writing from Sydney Australia. Sometimes you need to just get away from it all and take some time to think things through. I’m an investor—not a trader. I am not trying to capture the next 3% move. Let someone else figure that out. PPI figures, CPI numbers, employment (or unemployment), bailouts and wild market gyrations, what does it all mean? Should I ... Read More
Categories: General
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May 10, 2010

Multiple Expansion


I look at smaller companies because they can offer much better upside than larger companies. Part of this upside is the result of rapid earnings growth. Small companies can be more nimble and efficient than larger companies.  However, earnings growth isn’t always where you make money.  Often, you can make just as much money on multiple expansion. What is multiple expansion?  It refers to ... Read More
Categories: General
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