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TTCM Newsletter

Our newsletter explores emerging trends and important news.  Stay current on the subjects that affect your money and investments.  Explore the wide range of topics in our newsletter by clicking any of the links below.

As we’ve been discussing, we have been in a very difficult market environment for value stocks, similar to what we saw in the late 1990’s.  While most value investors trailed the indices during those bubble days, many ended up making fortunes the following years as......

As stock market euphoria continues unabated, I found a fabulous article that describes bull and bear markets that I thought could be highly relevant at this juncture in time. I’m going to keep my comments relatively short and let the article do the talking. As......

I came across an extraordinary paper from Davis Advisors called The Wisdom of Great Investors. The paper is basically a collection of wisdom from some of the greatest long-term investors in history. Since the paper is relatively long, I thought I’d share with you some......

In today’s extremely expensive stock market, we’ve been discussing a few incredibly attractive opportunities with 50%-75% upside potential, and large margins of safety. To find these opportunities, you have to look at areas that are highly out of favor based on short-term concerns, but that......

Firstly, I’d like to wish you all a Happy New Year. I’m excited and hopeful for 2018 and I believe that we could see some exciting changes in the U.S. economy and markets across the globe. At T&T Capital Management, we are focused on protecting......

There is a lot of media attention being put on Puerto Rico right now.  I feel so lucky that we have the types of clients that have donated time and money to people that have been so negatively impacted by these terrible natural disasters that......

I wanted to pass on a very interesting article that I thought you might enjoy and which contains some valuable lessons of the past that are just as applicable today. Here is the link to the article and below are my comments on the subject:......

Dear Investors, The biggest mistake we can make as investors is focusing on the short-term and ignoring the long-term.  Investing is by definition a long-term endeavor.  A market participant may speculate that Tesla stock will go up in the next 3 months, but that doesn’t......

The municipal bond market is not as glamorous as something like Bitcoin, but it sure is essential for all of us. When our cities build schools or roads, they generally don’t pay for them via a cash surplus. These public functions are financed through bond......

Dear Investors, Let’s go back to 2010 for a moment.  This was a time when the memories of the Financial Crisis and the collapse of stocks had most market participants clamoring for other types of investments.  Why would anyone want to buy Johnson & Johnson......

Dear Investors, I thought it would be helpful to shed a little bit of light on our thinking and how we look at our current investments.  We’ve done this a few times in the past and it has been quite fun and profitable to see......

Dear Investors, Often we are asked why we don’t own the glamour stocks such as Amazon or Nvidia, which seem as though they can only go up in today’s market.  While both Amazon and Nvidia have incredible appeal right now and tremendous growth prospects, that......

Dear Investors, Last Thursday, AGO came out with very strong earnings!  Book value continues to grow and the company continues to be profitable, despite the fact that AGO increased reserves for Puerto Rico credits by the largest amount yet.  The stock has been hit pretty......

Dear Investors, I thought it would be helpful to look at some important market valuation metrics to give you a perspective of what type of market we are in. Shiller (Inflation-adjusted) P/E: 31.4.  The Shiller P/E is 86.9% higher than the historical mean of 16.8. ......

Dear Investors, Warren Buffett says, “The less prudence with which others conduct their affairs, the greater the prudence with which we must conduct our own affairs.” As stock markets across the globe continue to hit record highs, it is important to take a measured look at......

Dear Investors, On October 11th, we at T&T Capital Management celebrated our 6-year anniversary.  I feel incredibly blessed to say that the vast majority of our original clients are still with us, including quite a few that were with our prior enterprise, which we ran......

Dear Investors, In the aftermath of Hurricane Maria devastating Puerto Rico, there has a been a great deal of talk regarding its impact on bond prices and the restructuring process.  Much of the analysis is slanted and is quite poorly informed to be honest.  Remember......

Dear Investors, As we are now more than eight years into a bull market, I’m struck by how different the psychology is of most market participants now, compared to just a few years ago.  In Europe, we have seen a significant referendum vote, where the......

Dear Investors, For those of you that have been with us for a long time, you know that one of the key elements of our strategy is to load up on positions when prices make no sense, offering huge upside and a large margin of......

Dear Investors, In our newsletters, I’ve commented on several occasions about the similarities that we are seeing between now and 2000.  One of the major similarities is that glamour stocks such as Amazon, NVIDIA, Tesla, etc., are trading at valuations that are nearly impossible to......