The most important factor to producing strong investment returns are valuations, and lately with a slight increase in volatility, valuations on some key opportunities have become more attractive.Read More

Well that was one heck of a week.  While I certainly was not smart enough to predict the results of the election, it has had a profound impact on my expectations for us as investors.  For the last 7 years, I’ve been one of the most vocal advocates of financial stocks that I am aware...Read More

As we sit in year-7 of a historic bull market, with earnings likely to decline for the 3rd consecutive quarter, the lack of a margin of safety in most stocks, bonds, and real estate is becoming painfully obvious. The Federal Reserve’s record-low interest rate policies have driven all asset classes higher, to levels where the...Read More

“Successful Investing takes time, discipline and patience.  No matter how great the talent or effort, some things just take time:  You can’t produce a baby in one month by getting nine women pregnant.”- Warren Buffett The bull market that started in March of 2009 is now on the verge of its 6th and a half year,...Read More

If one studies the history of financial markets, a consistent theme emerges. Short-term fads tend to dictate short-term performance, but long-term performance is determined by value and fundamentals. There are periods where prices flat out do not make sense, either for the market as a whole or for individual stocks and sectors. The current investment...Read More

Yesterday, Assured Guaranty reported very strong 1st quarter earnings and once again saw an increase in both operating and adjusted book value. Over the last year, the company has grown both metrics by roughly 15%, despite adding material reserves for its Puerto Rico exposures and paying a respectable 2% dividend. The stock still trades at...Read More

One of my very favorite investors Wilbur Ross was on Fox Business News discussing housing, politics, and business.  I think he is right on just about everything, and his comments about the high likelihood of a recession if we endure the fiscal cliff are right on.  Ross is a perfect example of a patient and...Read More