This was an excellent interview with Howard Marks.  I totally agree with him and his assessment of reduced expectations allow for better opportunities despite the obvious headwinds.  There are a lot of great points so I’ll just let you enjoy: http://www.morningstar.com/Cover/videoCenter.aspx?id=557470 INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.Read More

Blackstone Group LP (BX) and other private equity rivals such as KKR, are intelligently diving into the rental property business.  By buying foreclosed homes and renting them out these companies are able to capture attractive cash flow yields, while benefiting from likely appreciation into the future.  The key to these investments is scale and property...Read More

One of the more underrated investments during the financial crisis was Sergio Marchionne’s acquisition of Chrysler for his company Fiat.  He bought Chrysler straight out of bankruptcy when many people were thinking that the best step would be liquidation, and he has improved their product line and now the company is experiencing explosive growth.  Fiat...Read More

Below is TTCM’s most recent article on http://seekingalpha.com/article/698081-devon-energy-a-perfect-contrarian-e-p-play?source=email_rt_article_readmore&ifp=0covering Devon Energy (DVN).  This is a new position that we’ve only recently began buying for clients that it makes sense for.  I hope that you enjoy and as always if you need anything at all please don’t hesitate to contact us! INVESTING IN THE FINANCIAL MARKETS INVOLVES...Read More

While Microsoft seems to be making some solid progress, the regime of Steve Ballmer has been further tarnished by today’s announcement that the company is writing off $6.2 billion in their online services division.  This loss is the result of Ballmer’s $6.3 billion acquisition of AQuantive which was an internet-advertising software provider.  Ballmer was given...Read More

The U.S. economy is slowing quickly and nowhere is it more apparent than the ISM’s manufacturing purchasing managers’ index plunging to 49.7% in June.  A reading below 50% shows contraction and this is the first time the number has been below 50% since July 2009.  Problems in Europe and a slowdown in the United States...Read More

Further evidence that the economy is weakening can be seen as Berkshire Hathaway’s (BRK/A) rental furniture unit saw a slowing of demand from business clients in the second quarter.  Businesses are reluctant to invest in growth because of a lack of confidence in the overall economy.  While the Federal Reserve has been extremely loose, the...Read More

Corporations are issuing debt aggressively taking advantage of these record low interest rates.  JP Morgan (JPM) is taking advantage of their tremendous financial strength and is gaining market share as the number one underwriter.  Because JP Morgan has been able to stay in tact after the “Great Recession” they have benefited greatly as their competitors...Read More