2013 was a banner year for equities and optimism seems to be quite pervasive following that.  I regularly speak with market participants that are expecting 10%+ annual returns over the next decade and I believe that the likelihood that they will achieve that is quite slim.  Warren Buffett has mentioned that the ratio of Total...Read More

Coming off a banner 2013, Super-investor Carl Icahn has taken an investment stake in Hertz (HTZ).  The rental car business has undergone significant consolidation, which has improved the industry fundamentals dramatically by reducing competition and rationalizing both pricing and marketing costs.  Hertz is the behemoth on the block and it is very likely that the...Read More