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December 27, 2020

On Riding Freight Trains…


I have a friend who’s a reasonably competent trader. He’s the type who draws his voodoo lines everywhere on the charts. He caught the same trendline break on Bitcoin that I did around $9,200. He expected some resistance around $10,000 and sold out for a quick score just below the figure. He then got the breakout at $12,000 and rode it a few thousand. ... Read More
Categories: Investments
Positions Mentioned: GBTC, JOE
October 23, 2018

Trouble In Arkansas


During every credit cycle, there is one national lender that all other lenders try to emulate. This is because a combination of rapid asset growth and elevated net interest margins leads to rapid earnings growth and share price appreciation. Unfortunately, in order to do that, you have to make a lot of risky loans and pretend they’re totally safe. Remember Countrywide Financial? They were ... Read More
Categories: Investments
Positions Mentioned: OZK, JOE
June 13, 2018

Hey JOE–Where Ya Goin With That Land Over There…??


Friend: Kuppy, stop the car!! Me: Uggh, again? Friend: Let’s get out. Me: We have 177,000 acres to visit. We can’t stop at every damn acre. Friend: Yeah, but not every acre is next to million dollar homes. Me: …A surprising number of them seem to be… It’s already noon and we’ve seen less than one percent of the portfolio… Friend: It’s just amazing. ... Read More
Categories: Investments
Positions Mentioned: JOE
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