Before diving into the S&P 500, it’s worth taking a step back to understand what a stock index really is and why it matters. From how they’re constructed to what they actually represent, indices form the foundation of nearly every market conversation — and every investor’s frame of reference. If you’re new to investing, start […]
The S&P 500: Understanding Stock Indices Read More »
When Momentum Cuts Both Ways Tuesday’s gold selloff highlights a feature of markets that too many people forget: momentum works both ways. Gold has had one of its best years since it was demonetized in 1971. On the spot market—where gold is purchased for immediate delivery—prices have risen from roughly $2,600 at the beginning of
Gold’s Momentum Trade: Why Prices Are Rising — and Falling — Faster Than Ever Read More »
A Timely Book for Investors A few times a year, a book comes out that makes this middle-aged bookworm as excited as a kid on Christmas morning. October 14th, 2025, Andrew Ross Sorkin’s new book, 1929: Inside the Greatest Crash in Wall Street History – and How it Shattered a Nation, was released. I practically
The Lessons of 1929: Why Andrew Ross Sorkin’s New Book Matters Now Read More »
“Ignoring the Macro” Can Be Misleading Value investors invest in businesses, not markets. Accordingly, many investors take pride in “ignoring the macro and focusing on the micro.” In my opinion, investors shouldn’t take this adage too literally. I’ve seen too many financial market blowups to think that “ignoring the macro” is a good idea. The
Macro Risks: Why Smart Investors Pay Attention to the Bigger Picture Read More »
In a previous blog post, The Risks of Financial Leverage in Small Business Acquisitions, I discussed the increased number of online influencers. They are promoting small business acquisitions as a path to creating wealth. While there are plenty of entrepreneurs who have become very wealthy acquiring small businesses, these deals are not without risk. Influencers
Small Business Acquisition – The Management Factor Read More »
Why Small Business Acquisitions Look So Attractive Many business influencer’s have been touting the benefits of acquiring a small business and installing an operator. As someone who has invested in a handful of small businesses and has consulted for many more, I thought it would be remiss of me not to highlight some of the
The Risks of Financial Leverage in Small Business Acquisitions Read More »
In honor of Warren Buffett’s 95th birthday, here are five timeless investing lessons I’ve learned from studying his remarkable career. 1. The Importance of Permanent Capital One of the most overlooked aspects of Warren Buffett’s career is the institutional structure of his investment vehicle, Berkshire Hathaway, Inc. By investing through a publicly traded holding company,
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On August 22, 2025, the Federal Reserve released its revised Statement on Longer-Run Goals and Monetary Policy Strategy. The revised document reverses policy changes introduced in 2020 which some economists believe contributed to the surge of inflation in 2021 and 2022. To understand the 2020 policy changes, we have to go back to earlier in
The Federal Reserve’s Old New Policy Framework Read More »
I came across an article on CNBC.com titled When “invest like the 1%” fails. I immediately knew this was going to be about the JOBS Act. Sure enough, the article outlined a wave of losses faced by investors in real estate projects listed on a popular investment website called Yieldstreet. What the JOBS Act Opened
The JOBS Act and the Risks of Private Markets Read More »
Call me old-fashioned, but I believe that words matter. In the world of finance, the terms investment and speculation are often blurred. We frequently use “investment” as a catch-all to describe any outlay of money made in the hope of future profit. I’m as guilty as anyone of using it in this overly broad sense.
Investment vs. Speculation: Investing Defined Read More »
