Category: Commentary

With all of the noise about Jackson Hole tomorrow and whether they will be hawkish, dovish, pivot or not, we wanted to take a step back and think about broad themes we are/will be pursuing over the next few years. Continue reading “3 Investing Themes for the Next 3 Years…”

Last week, my family and I took a trip out to visit friends in Whitefish, MT for a long weekend.  We had an amazing time. On the first day we went out on the lake and both me and my daughters learned how to ski behind the boat.  I was able to get up and surf for a reasonable amount of time, but being on the “wrong side of the wave” made balancing harder than it needed to be:

Continue reading ““Wrong Side of the Wave” Stock Market (and Sentiment Results)…”

The August survey covered 284 managers with $836 Billion in assets under management.
Continue reading “August 2022 Bank of America Global Fund Manager Survey Results (Summary)”

Opinion, Not Investment Advice. See Terms Above. Disclosure: We own a meaningful amount of CPS stock.

On June 7, 2022 we broke our Cooper Standard (CPS) thesis publicly on Fox Business for the first time: Continue reading “A “Sealing Systems” Stock Market (and Sentiment Results)…”

The Hawks were out this week, trying to walk-back the “data dependent” pivot from Chairman Powell last week.  With a technical recession now booked in the rear view mirror (2 quarters of negative GDP growth in 1H), DON’T BUY IT! Continue reading “The “Jawboning” Stock Market (and Sentiment Results)…”

Philip Vassiliou, the CIO of Legatum (who we interviewed a few weeks ago here), thoughtfully sent me this great note on Wednesday – written by another investing legend Howard Marks.  I’ve read Howard’s notes over the years, but this was one of the best.  The most important lines for me were: Continue reading “The “Better Than Feared” Stock Market (and Sentiment Results)…”

Last Thursday morning we published our article “As Bad Is It Gets,” and so far that has proven to be true:
Continue reading “Chris Stapleton “Starting Over” Stock Market (and Sentiment Results)…”

The July survey covered ~259 managers with $722 Billion in assets under management. Continue reading “July 2022 Bank of America Global Fund Manager Survey Results (Summary)”

In 1997, Jack Nicholson co-starred with Helen Hunt in a movie called, “As Good As it Gets.”  When it comes to markets, you want to be a SELLER when things are “As Good As it Gets.”  However, it pays to be a BUYER when things are “As Bad As it Gets.” Continue reading ““As Bad As It Gets” Stock Market (and Sentiment Results)…”

Today we released the interview I completed with Philip Vassiliou – Partner and Chief Investment Officer of Billionaire Christopher Chandler’s Legatum.  Philip is in charge of all investment activities for the firm. Continue reading “The Billionaire Investors You Have Never Heard Of…”