I came across a very interesting article written by value investor and market historian Richard Pzena.  As you know, the closest comparison to the current market environment is the Tech Bubble, as the most expensive companies have seen P/E multiple expansion, while value stocks have seen multiple compression.  As you can see on the...
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Few things are more frustrating in investing than when you feel like you are missing out on an opportunity, which often can occur in speculative bubbles, so I just wanted to share a fun one with you.  You see people making money engaging in an activity, which you might believe intrinsically to not make sense,...
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There has been a great deal in the news about the office-sharing company WeWork, which rose to prominence over the last few years, as revenue grew rapidly and its outspoken CEO made headlines.  WeWork, and other formerly private enterprises such as Uber and Lyft, gained notoriety by obtaining higher and higher valuations from accommodating capital...
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We at T&T Capital Management have been making the argument that the marketing and shift towards index fund investing, irrespective of valuation, is likely to lead to very serious problems in the future.  Every bubble arises out of a good story that gets carried too far.  Once valuations are seen as virtually irrelevant info, that...
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On behalf of our Chief Investment Officer Tim Travis…   Hello Everyone, I stumbled upon an article on MarketWatch that said we are in the 3rd biggest stock market bubble in history.  Firstly, I don’t agree with that premise, although I do believe that the market is quite expensive.  The analysis is based on a...
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