Equity markets, bond markets, and REITs are all seeing a September swoon, as higher rates are leading to selloffs.  We saw something similar occur last year, only to have the 4th quarter be quite strong for the equity markets, so we’ll see how things turn out.  Earnings season starts once again in about 2-3 weeks,...Read More

At T&T Capital Management, we avoided the massive losses most investors took from buying bonds at the incredibly low yields that prevailed over the last 15 years.  It was really simple, the interest rate risk wasn’t worth it, regardless of the ridiculous cookie-cutter asset allocation models that most financial advisors use, which almost always must...Read More

Happy New Year as we at T&T Capital Management are immensely excited to start 2023.  While 2022 was a nightmarish market for both equities and bonds, largely due to out of control inflationary pressure, and the disastrous war in Ukraine, I feel we are in a great position going into 2023.   One Warren Buffett...Read More

The S&P 500 is down roughly 20%, the Nasdaq was down nearly 33%, and the average 60/40 portfolio is down about 17%.  As we’ve discussed many times over the year, it is very rare that both stocks and bonds perform so badly in the same year.  When you think back at 2020 and 2021, you...Read More

When we wrote to you last week, we mentioned an encouraging CPI report, but the market was waiting to see how Powell spoke the next day before showing any real rally.  As has been the status quo for the year, Powell spoke very hawkishly despite the enormous evidence that inflation has peaked and the economy...Read More

I hope you had a great Christmas!  Today I came across an interesting article on Bloomberg discussing the fact that the 6 big U.S. banks have combined to make nearly $1 trillion in profit over the last decade, despite being universally hated stemming from the last Financial Crisis, and dealing with a historically low interest...Read More

We saw a little bit of volatility the last few days, as an overleveraged hedge fund blew up spectacularly.  It was one of the largest blowups in history (over $50 billion) and despite owning some pretty good positions, being leveraged 5-1 almost always assures disaster at some point, unless you are exceptionally lucky, and this...Read More

Dear Investors, One of our favorite investments in today’s market is the common stock of ALLY Financial (ALLY).  This is a company that we have done quite well on over the years, but that has improved the fundamentals of its business at an even faster rate.  Our investments in ALLY have generally been centered on...Read More

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