Reinvestment Runaways
We’ve demonstrated that companies that generate high ROIC are time and again the most valuable businesses and stocks to own. In addition, the persistent presence of excess returns points to a moat, a unique business model, inimitable set of characteristics or assets,...
Weekly Market Update
Global Market News Global equities falterGlobal equities took a tumble this week after markets dropped close to 6% on Thursday amid concerns over an increase in Covid-19 hospitalizations, excessive market speculation, and a pessimistic economic outlook from Federal...
Covid-19 and the Day After
Shipping Industry Warns of Trade Logjam as Crews Remain Stranded Peggy Hollinger, Robert Wright, and Michael Pooler; Financial TimesRead the full article here Nearly 400,000 crew are stranded at sea or at home by Covid-19 travel restrictions. The international...
The Revenge of the Numbers, The Illusion of Theories, and the Delusion of Expectations
Let’s us make no mistake: we are thrilled when the news pleasantly surprises us, contrary to expectations. Rather than the increase in the unemployment rate, more jobs were created in the month of May than the jobs that were lost, (more than 60% of the various...
Weekly Market Update
Global Market News Global equities surgeGlobal equities made significant gains this week. Promising results from the monthly labor report, which we break down further below, fueled gains on Friday. The Dow Jones and the S&P 500 rose 6.7% and 5.4% respectively,...
Covid-19 and the Day After
Given the unprecedented times we're living in, we started a new service of sending once a week, a summary of 3-4 articles that reflect the new realities and their potential impact on our lives and assets. Below are summaries of four intriguing articles with some...
Firepower and Moral Suasion: Market Abnormalities
It was June 20th ,1920 and the eight-year old boy by the name of Abraham Zimmerman experienced the lynching and hanging of three black men in Duluth, Minnesota. Postcards of the hanging were sold as souvenirs. Forty-five years later in 1965, Bob Dylan (Abraham’s son)...
Crossroads: At the intersection of geopolitics and geoeconomics
Here is a summary of the most important events that unfolded this month, and which may affect economic, financial and geopolitical issues in the months ahead: North America At the beginning of May, both President Donald Trump and top Chinese officials reaffirmed that...
Weekly Market Update
Global Market News Global equities make gainsGlobal equities made gains this week as more economies reopened and hopes for a Covid-19 vaccine spread. The yield on the US 10-year Treasury Note was little changed, dropping slightly to 0.65% Friday afternoon from 0.66%...
Covid-19 and the Day After
Given the unprecedented times we're living in, we started a new service of sending once a week, a summary of 3-4 articles which reflect the new realities and their potential impact on our lives and assets. Our assessment is that it may take at least 3-4 years...
