The Covid-19 health crisis continues to evolve globally, and slowly we are learning more about the virus.  There have been quite a few serology studies in various regions of the country, where they are examining how many people possess Covid-19 antibodies.  The results of the studies seem to indicate that the true number of infected...Read More

April 16th, 2020 is a big day for our country.  There is now a plan to begin reopening the country.  The decision will ultimately fall to the Governors of the states.  The pace of reopening will be determined by the situation impacting each state, as opposed to one process for the whole country.  Reopening in...Read More

This week, earnings began coming out in abundance, starting with many of the Big Banks.  I’ve gotten through J.P. Morgan, Wells Fargo, Bank of America, and Citigroup.  Research reports will be forthcoming.  I will tell you that I am incredibly encouraged.  All 4 banks were profitable, despite posting dramatic and expected reserves to account for...Read More

While we are likely in the peak period for deaths in hard-hit New York and New Jersey from Covid-19, there are signs of hope emerging.  The NYC confirmed case daily growth rate has declined.  Governor Andrew Cuomo said that “the number of deaths has been dropping for the first time.” While too early to get...Read More

Benjamin Graham (the founder of value investing) originally came up with the concept of margin of safety.  The idea is to buy a security at a large enough discount to its true worth, that you can greatly reduce your chances of losses, while also maintaining a maximum profit potential.  To determine intrinsic value, one uses...Read More

With market volatility spiking, I thought it would be a great time to describe in detail how our options strategies work. On the first example on the top of this email, we will outline how selling cash-secured puts work. If a stock we believe is worth $40 is trading at $32, we might think the...Read More

[vc_row][vc_column][vc_column_text]After Monday’s bloodbath, we have now had the 26th correction greater than 5% since the March 2009 low.  This table above shows them, and it is important to note that they all felt like very serious deals when they were occurring, but many of them seem very forgettable at this point. Monday’s 3% selloff marked...Read More

Over the weekend, reports have come about that the Coronavirus has been spreading quite a bit outside of China.  New clusters have formed in Italy, South Korea, Iran, Israel, etc.  One concern is that they are having a tough time figuring out how they got the virus, as many hadn’t been to China recently.  The...Read More

2020 is shaping up to be a strange year.  This Coronavirus has a region in China, far larger in population than New York city, on a complete lock-down.  There are zombie cruise ships patrolling the waters in a state of full quarantine, with no countries wanting to take the risk of allowing them in to...Read More

“Those times when you get up early and you work hard, those times when you stay up late and you work hard, those times when you’re too tired and you don’t feel like working and you do it anyway:  That is actually the dream.  The destination is the journey.” —Kobe Bryant   It is a...Read More