One of the biggest problems with mutual funds is that investors chase past performance.  They get in at the worst times when the stock in the funds are most expensive, and they get out when stocks are cheap and short term performance has lagged.  Despite Bruce Berkowitz’s excellent long term and current year track records,...Read More

In a very average economic climate the European banks put out excellent numbers this week.  I was particularly impressed by Barclays and Santander’s respective performances.  It seems like Barclays investment banking operations are starting to perform better, and Santander’s Latin American operations are still thriving.  Santander could be a compelling investment at these levels.  As...Read More

Earnings are getting a lot stronger in the home builder industry as increased traffic and closings is certainly helping financial performance.  Profits are still lagging due to the lack of pricing power and lower volumes, but I certainly wouldn’t be surprised to see volume pick up quite dramatically over the next two years.  The large...Read More