Investing is the idea of buying a security or an asset, that on the basis of fundamental research, allows you to believe that in time the security or asset will be worth more than what you paid for it in the first place.  The securities that we are buying are fractional shares of actual businesses,...Read More

This week the Federal Reserve will make a decision on interest rate policy where is it expected to raise by 25 bps.  This would be the first raise in nearly a decade, which is stifling to begin with.  There has been a great deal of volatility of late, which is not uncommon before a rate...Read More

Read our latest research report by our Chief Investment Officer Tim Travis on Assured Guaranty Ltd. (AGO)   Puerto Rico Noise Temporarily Obstructing Assured Guaranty’s Value CreationRead More

Friday’s strong job report has increased the odds that the Federal Reserve will finally raise interest rates on December 16th.  There has definitely been improvement in the labor market but I believe it would be tough to define the U.S. economy as strong.  The ISM manufacturing index has dropped to contraction levels and inflation is...Read More

Yesterday was a significant day for our portfolios’ because there was a lot of news about Puerto Rico, which impacts our positions in AGO, MBI and Ambac Financial Group.  Firstly, Puerto Rico paid all of its $355MM due on its notes issued by the Government Development Bank.  Most of these bonds were backed by the...Read More

This has surely been an interesting year in the equity markets.  The sheer amount of stocks that are down between 40-60% is absolutely incredible.  Part of that is due to the energy sector, which has been a clear disaster outside of the refining companies.  It is also a reflection of the high valuations that exist...Read More

This morning provided some interesting news as famous activist investor Carl Icahn has announced that he has taken a large position in AIG.  AIG is and has been one of our largest positions, which we have been very successful in over the last 5 years.  We’ve recently added materially to it in many accounts during...Read More

We are about midway through earnings season and most of the big banks have now reported.  The delay of an interest rate increase had a role in the recent selloff as did just the general terrible market sentiment due to the severe correction that took place.  What many market participants fail to understand is that...Read More

Last December, we wrote this article Russia – Scary but Too Cheap to Ignore  Honestly, we got quite a few negative responses from it as people thought Russia was “uninvestable.”  This has also been the general sentiment by many market “experts.”  At T&T Capital Management (TTCM), we are long-term deep value investors.  By nature, we...Read More

Stock market volatility is back and we’ve seen the first significant correction in 4 years.  Economic growth in the United States has been stubbornly slow, while Europe is just finally emerging from its own economic doldrums.  Fears of a slowdown in the growth rate of China have rattled markets across the globe due the huge...Read More