Believe In America (Part III) Avoid Lobbyist Stocks

January 13, 2017 1:31 PM


With the stock market continuing to make new highs, it feels almost irresponsible for me to talk about things to buy without at least waiting for a pullback. Therefore, I think it makes sense to talk about what to sell.One of the defining characteristics of the Trump administration will be “draining the swamp.” That means a lot of things to a lot of people, but as it relates to stocks, it means that if a company relies on subsidies, rebates, regulations and government meddling in the free market... more

Categories: Comments On Events
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Real de Catorce and Onto 2017...

January 4, 2017 5:45 PM


While I was in Mexico, December the 12th was the Feast of the Virgin of Guadalupe. If you want to learn more about the holiday, go to Wikipedia, but the key takeaway for me, was that Mexico effectively shuts down for a few days. That’s all fine and good, because despite multiple trips to Mexico, there was one thing that I’d never been able to do—visit Real de Catorce. Furthermore, I knew that I’d need a few days—as it’s not exactly close to anything else.At one time, Real de Catorce was one of M... more

Categories: Travels
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Indexers Are Running Amok...

December 24, 2016 11:57 AM


So, this should be pretty easy to sort out. Crawford & Co has two classes of stock, A and B. The A shares pay a dividend that is 2 cents a quarter higher than the B shares. There are differences in voting rights, but as there’s a control shareholder, those are irrelevant. Therefore, a simple analysis says that the A shares ought to trade at a moderate premium to the B shares to account for the nearly 1% higher annual dividend yield. NOPE!! The B shares are in the Russell 2000 index and the B... more

Categories: Comments On Events
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Mexico Is Having A Yuuuge Donald Trump Victory Sale

December 17, 2016 7:40 PM


I am writing to you from Santiago de Queretaro, Mexico, where the whole country is having a yuuuuge Donald Trump victory sale. Mexico is one of my favorite countries to visit. It combines a laid back attitude, friendly people and an outstanding culinary tradition. It also helps that it’s currently one of the cheapest places on the planet—one of many reasons that I’ve spent 5 weeks here recently (Yucatan and Central Mexico thus far).Mexico has always been known as an affordable place with cheap b... more

Categories: Current Investments
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Oil Services Update

December 15, 2016 12:16 AM


Back in August, I noted that oil looked to be making a right shoulder and that I was buying a basket of oil service companies as many of these companies, particularly in the offshore service, space traded at tiny fractions of NAV. Since then, most of my basket made new lows before rallying strongly in the past few weeks. The companies in my basket are now up 20% to 80% since I wrote about them in August. With Trump's focus on making America great again, I've now exited all of these positions in ... more

Categories: Current Investments
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