Today the Shanghai index posted its worst day since 2007, plummeting a whopping 8.5%.  This took a significant chunk out of rally that has occurred since the Chinese government took efforts to actively halt the declines in the market, via capital injections, trading restrictions, and public proclamations against bearish participants.   China is significant for a...Read More

Hello Everybody, It has now been over a year since oil began its precipitous decline, from prices well over $100 per barrel to its current range in the low to mid-$50s. Pessimism is still incredibly high and just about every investment in anything energy-related has been massacred.  It is not just energy prices that have...Read More

Hello Everybody, Earnings season has started off very strongly for the big U.S. banks, which we’ve owned for over 5 years now.  Credit conditions started improving about 3 or 4 years ago and is now absolutely pristine.  Unfortunately, litigations and most importantly penalties imposed by government agencies have cost these companies and shareholders tens of...Read More

Read our latest research report from Chief Investment Officer Tim Travis on JP Morgan Chase & Co. (JPM) JPMorgan Chase – Premier Competitive Position But Just Adequate ValueRead More

Hello Everybody, Needless to say, the last 30 days have been quite dramatic for world markets.  In China, roughly $4 trilling in equity value was wiped out in a crash that has many similarities to that experienced in 1929, partly for the interventionist policies that transpired as a result.  This story is likely not over...Read More

Hello Everybody, The last few weeks have seen a torrential downpour of bad news.  To briefly recap:  Greece is very likely headed out of the Eurozone, barring a massive last minute effort on both sides to come together to preserve the Union.  The Chinese stock market after being up 135% over the last year, has...Read More

You can’t go to a financial website or watch financial television without seeing a headline about the huge problems facing Greece.  This is a tiny country of 11 million people and a total GDP that is less than the market capitalization of a number of American companies.  Greece’s problems are similar to those facing most...Read More

Value investing is a somewhat broad term, but the concept is basically the idea of buying securities at a discount to “intrinsic value.”  By doing so and by being willing to take a longer-term approach, the value investor is able to invest with a large margin of safety and also achieve better investment returns.  It...Read More

Read our latest research report from Chief Investment Officer Tim Travis on Deutsche Bank AG (DB) Deutsche Bank – The Best Value in Banking?Read More

On March 5th, I wrote about fixed income being the bubble that should be most concerning to the investor: The Bubble to be Worried About.  Since that time, bonds across the globe have been falling in value, causing significant losses in many fixed income portfolios.  The 10-year Treasury bond traded as low as 1.68% earlier...Read More