Esteemed Hedge Fund Manager Ray Dalio posted an extremely informative paper on economic cycles.  This is a lot better than most of the materials that I read studying economics in college, and the recent near death experiences in the financial markets experienced over the last couple of years certainly add color to his commentary.  This...Read More

One of the biggest problems that has hurt the economy and the markets was the precipitous drop in consumer confidence which hit record lows during the “Great Recession.”  While consumer confidence is a lagging indicator I feel that we are still fairly early into the economic recovery, and I believe numbers will improve as jobs...Read More

This is exactly why we sold whatever Sprint (S) stock that we owned at T&T Capital Management.  Management has been disastrous for years.  They have some of the worst capital allocation that I have ever seen so even though the stock is cheap, unless something drastically changes I wouldn’t invest in them. http://online.wsj.com/article/SB10001424052702303816504577306053212343154.html?mod=business_newsreel INVESTING IN...Read More

This article outlines the dual benefit that cheap natural gas prices are having on the Steel Industry, particularly the domestic companies such as US Steel (X).  Some of these companies are switching from coal to natural gas to burn their furnaces which is saving a substantial amount of money.  Also demand for steel is increasing...Read More

Today Lennar reported revenue numbers that were quite strong.  This report seems to be quite different than what KB Homes reported last week, which is exactly what KB’s management discussed last week by saying that most of their problems were internal, or were the result of their mortgage affiliates struggles to get deals done.  Lennar...Read More

Today on CNBC Robert Schiller discussed housing along with some other topics.  I disagree and believe that housing has bottomed.  The data is lagging and every region is different but I think prices as a whole are likely to turn higher over the course of this year and next, even though the initial data might...Read More

This is a fun article written by Geoff Gannon where he discusses some of Warren Buffett’s first investments.  For any serious value investor I’d of course recommend reading all of Buffett’s Partnership letters and Berkshire Hathaway Chairman’s letters, but this article did a nice job in outlining the details of a few of them. INVESTING...Read More

This article http://www.forbes.com/sites/ericsavitz/2012/03/21/6-reasons-why-i-dont-invest-in-the-u-s-stock-market/3/ in Fortune shows some key differences in how non-value investors look at the market versus how we do.  I’m going to address the authors 6 reason below: 1) Retirement Savings- The author cites the fact that the market has been flat over the last 15 years because so much retirement money has come into...Read More

http://seekingalpha.com/article/457561-research-in-motion-s-stock-price-provides-a-margin-of-safety-and-upside INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.Read More

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