You likely are sensing a bit of a theme with recent articles discussing what I believe to be a pretty substantial equity bubble, centered on the Megacap stocks dominating the market.  To be clear, I think there is still value in some of them, and we actually own some of them, although our exposures are...Read More

Volatility has come back into the equity markets, driven by rapidly increasing Treasury yields.  In fact, since the vaccine data came out towards the end of last year, Treasury Bonds are down 27.7%, meaning yields are up.  This has coincided with value stocks and financials going on a massive rally and outperforming peers, after a...Read More

The speculative fever seems to be at full blast as we’ve seen with the wild price moves in stocks such as Tesla, or alternatives such as Bitcoin.  Many people are applying pandemic-inflated growth levels into perpetuity.  One example, I find interesting is Zoom Video Communications (ZM).  The stock rose 400% last year, as the technology...Read More