Stock markets around the globe have been panicking on fears of Chinese growth.  Today’s made news was the China manufacturing index slipped deeper into contraction territory.  The Dow is now down just about 10%, which is correction territory.  In this type of environment, just about all stocks fall.  Yesterday many of the momentum stocks that...Read More

It has been a very interesting summer as far as the equity markets go.  Summertime trading can often be quite volatile and people tend to read too much into short-term movements.  Clearly, the biggest global issue is the apparent slowdown in the Chinese economy, but if growth is anything close to the 7% growth that...Read More

Below you’ll find a link to my most recent and comprehensive research report on Assured Guaranty (AGO).  As most of you are aware, we’ve taken advantage of the recent dip to substantially increase our position size for those that have free cash.  In addition, we also have sold puts throughout the year and the last...Read More

Today the Shanghai index posted its worst day since 2007, plummeting a whopping 8.5%.  This took a significant chunk out of rally that has occurred since the Chinese government took efforts to actively halt the declines in the market, via capital injections, trading restrictions, and public proclamations against bearish participants.   China is significant for a...Read More

Hello Everybody, It has now been over a year since oil began its precipitous decline, from prices well over $100 per barrel to its current range in the low to mid-$50s. Pessimism is still incredibly high and just about every investment in anything energy-related has been massacred.  It is not just energy prices that have...Read More

Hello Everybody, Earnings season has started off very strongly for the big U.S. banks, which we’ve owned for over 5 years now.  Credit conditions started improving about 3 or 4 years ago and is now absolutely pristine.  Unfortunately, litigations and most importantly penalties imposed by government agencies have cost these companies and shareholders tens of...Read More

Read our latest research report from Chief Investment Officer Tim Travis on JP Morgan Chase & Co. (JPM) JPMorgan Chase – Premier Competitive Position But Just Adequate ValueRead More

Hello Everybody, Needless to say, the last 30 days have been quite dramatic for world markets.  In China, roughly $4 trilling in equity value was wiped out in a crash that has many similarities to that experienced in 1929, partly for the interventionist policies that transpired as a result.  This story is likely not over...Read More

Hello Everybody, While Western news has been dominated by the “Greek Crisis,” an extremely important and cautionary tale is unfolding in China.  Loosening restrictions on outside investment into mainland Chinese shares have created a bull market of epic proportions.  The Shanghai index returned well over 100% over the last year.  The situation was almost reminiscent of...Read More

Hello Everybody, I hope that you all had a safe and enjoyable Independence Day holiday!  Today’s news is that the people of Greece have rejected the terms of its creditors’ by voting no in the referendum.  Now it will be very difficult for this radical leftist government to come to terms on a package to...Read More