I came across this amazing article and just had to share it with you.  It is a memo written by famous and incredibly successful value investor Howard Marks.  In the memo he articulates how little short-term market fluctuations really mean.  This is why I’ve been continuously stressing the fundamentals which are incredibly sound in our...Read More

2016 has officially been the worst start to a year in history for equity markets.  Globally stocks are trading at levels they haven’t seen since 2013 or earlier depending on the market, and many markets are officially in bear markets defined by 20% declines.  Over the last 7 years of this bull market we have...Read More

Read the latest research report by our Chief Investment Officer Tim Travis on JPMorgan Chase & Co (JPM) JPMorgan Chase: Take Advantage of Short-Term FermsRead More

Read the latest research report by our Chief Investment Officer Tim Travis on Wells Fargo & Co. (WFC) Sell-Off in Wells Fargo Creates Long-Term Buying OpportunityRead More

Read the latest research report by our Chief Investment Officer Tim Travis on Citigroup (C). Citigroup: Bank on Mr. Market’s Unfounded ParanoiaRead More

At T&T Capital Management (TTCM), we define risk as the risk of taking permanent losses of capital.  Of course we are going to be susceptible to short-term mark to market selloffs just like anybody else, but we want to be invested in undervalued and profitable businesses that will recover and thrive through downturns.  While the...Read More

I hope that you had a fabulous and safe Labor Day holiday.  This morning Warren Buffett was on CNBC where he discussed the economy, interest rates, and the outlook for long-term investing in stocks.  He made excellent points in that the U.S. economy has really not accelerated beyond the 2-2.25% level on a year over...Read More

Current stock market volatility remains extremely high and hysteria is quite significant.  It is my opinion that we are in a classic stock market correction.  I wouldn’t necessarily call it a panic yet, but clearly fear is very high.  It is important to look at the underlying fundamentals and see if they line up with...Read More

There is no doubt that the recent selloff in global markets has been stifling.  The percentages of stocks down 20-40% are incredibly high, but not necessarily shocking if you’ve been watching what has been going on.  Market participants have been bidding up stocks to unsustainable valuations, which have been buoyed by ultra-low interest rates.  Sometimes...Read More

We have now experienced the worst correction since 2011.  While these things are never fun to go through, they are 100% to be expected and 100% not to be feared.  Valuations have been elevated and there has been a great deal of speculative activity on wide swaths of the market, none of which we are...Read More