As the market heads well into correction territory, the one thing that has struck me is people are trading it as they would a typical recession. This is absolutely the wrong construct. The impact from recessions persist. Corona is like a hurricane – it is a one time hit that Continue Reading
Apple Should Not Be A Holding of ESG Funds
A recent analysis by RBC Capital, highlighted in the Wall Street Journal, observed that the top five holdings of ESG stock funds were Microsoft, Google, Visa, Apple, and Cisco. If your reaction to that is “I thought I was investing in an ESG fund, not a tech fund“, congratulations! You Continue Reading
Where Are All The Reserve Charges Hiding?
One thing I like to do here is make predictions. When those predictions come true, I am pretty good at reminding you about it! That also requires owning up to it when they don’t come true. Before earnings season began, I suggested we would see companies take year-end reserve charges, Continue Reading
Prominent Investors Continue to Fail At Insurance
With the news that Exor is selling PartnerRe and exiting insurance, we have one more example of a high profile investor realizing that running an insurance business was harder than they thought. While Exor got a reasonable return on its investment, certainly in comparison to hedge fund reinsurers, it clearly Continue Reading
Bloomberg Wins Iowa
No, this isn’t Fake News. I know Bloomberg didn’t even run in Iowa. But he still won it cause everyone else lost! Loyal readers may remember I recommended buying futures on Bloomberg for President at 200-1 last fall. Yes, I am bragging about that call again! For non-loyal readers, insights Continue Reading