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November 6, 2019
…Yea, I know. I’m supposed to be on a vacation, but here I am, working anyway… Just for an update, I’m at the harbor in Montserrat drinking some rum. In case you weren’t aware, Montserrat is the place where a volcano blew off half the island in 1995. Don’t worry, I’ll post an update on my travels soon. In the interim, I’ve had lots Read More
Categories: General
Positions Mentioned:
May 24, 2019
As we all head out for the Memorial Day long weekend, most of us are focused on BBQ’s and Air Shows (I know I am). But there’s no reason to pickle your brain for 3 days without at least learning something. With that in mind, I feel compelled to share a report about the hydrogen sector written by my good friends at Capitalist Exploits. Read More
Categories: General
Positions Mentioned:
May 1, 2019
While I may have called it the “Woodstock of Crony Capitalism,” I have never ceased to be mesmerized by the Berkshire Hathaway (BRK – USA) annual meeting. Like a fly to poo, I continue to be drawn to it, even though I already know the well-worn routine; -40,000 self-assessed contrarians descend on Omaha, Nebraska to be told to buy good companies at a fair Read More
Categories: General
Positions Mentioned: BRK
April 2, 2019
Over the past few quarters, I have become increasingly critical of the Profitless Prosperity Sector, known amongst my friends as the Ponzi Sector. Why Ponzi Sector? Because these companies have no profits yet continue to raise new capital by showing explosive revenue growth. Oddly, the more revenue they show, the more money they lose, because incremental revenue is at a negative gross margin. Many Read More
Categories: General
Positions Mentioned: LYFT
July 22, 2017
My good friend Chris, over at Capitalist Exploits has a new service named Insider Trade Alert. Needless to say, I’m a big fan. The strategy is a focus on “asymmetric risk/return scenarios” in un-followed and un-loved securities. When was the last time you even thought of Korean ship builders? When was the last time you thought that long-dated call premiums on European insurance stocks that Read More
Categories: General
Positions Mentioned: none
June 11, 2017
I don’t attend a lot of investment conferences as I prefer visiting companies on their home turf —you learn more that way. However, the LD Micro Invitational is “special” and after having missed the last few, I felt compelled to attend last week’s and get an update on the state of micro-cap investing (I define micro-cap as companies trading for under $50 million market Read More
Categories: General
Positions Mentioned: none
December 3, 2013
As long-time readers know, I am now focusing a considerable percentage of my time on Mongolia. For those who are interested in learning more about one of the most rapidly growing economies in the world, Thursday’s presentation by the Mongolian Stock Exchange (MSE) should be highly informative. ______________________________________________________________________________________________________________________ Altai Khangai, CEO of the MSE, and Saruul Ganbaatar, Deputy CEO of the MSE, will Read More
Categories: General
Positions Mentioned:
October 15, 2011
Since I started this site, I have been asked at least 100 times for a list of recommended books. I’ve finally gone home to Miami (first time since April) and gone through my books. HERE’S MY LIST OF RECOMMENDED BOOKS. I want to point out the obvious, which is that I’ve left out many investment favorites. If you haven’t read your Security Analysis, you clearly need Read More
Categories: General
Positions Mentioned:
October 10, 2011
As a Floridian that’s recently moved to Mongolia, I have wizened up. Winters in Mongolia are cold, and I need a new wardrobe. My Florida ensemble (shorts, flip flops and whatever free t-shirt I got during a company visit), won’t cut it in Mongolia. Last winter, I survived on my only two sweaters. This year, I decided to go shopping for proper attire—as a Read More
Categories: General
Positions Mentioned: