Cape Town, South Africa is running out of water. The city has managed to temporarily fend off what it calls “Day Zero,” the day it will turn off the taps to the city’s 4 million people and businesses. But as of now, Day Zero still is coming. Just a few weeks ago, Day Zero was […]
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The 2-Minute Thought: Avoiding Crowded Exits
Since volatility and fear have returned to the market, there has been a lot of talk about where you might hide if things get really bad. Suggestions span the gamut: Cash, gold, put options, and various selections of large-cap “safe” stocks are some recent ones I’ve read about. Here’s another thought — not just for […]
The 2-Minute Thought: “My Hopes Are in Cryptocurrency”
Personally, my hopes are not in cryptocurrency. I have no hopes tied up in Bitcoin, Ripple, or Ethereum, though I am interested in seeing how they evolve. But I just read a post by Korean journalist Juwon Park titled, “I Am a 24-Year Old South Korean, and My Hopes Are in Cryptocurrency,” and now I […]
The Trend Is Your Friend…Except At Both Ends…
What does 2018 hold for the market? Anne discusses this in more detail on page 4 but the consensus probably is for MOTS – “More of The Same.” Growth in the Global Economy and higher corporate profits should lead to higher stock prices. Caveat Emptor however, this is the perceived wisdom and we all know […]
A Trip To China…
I recently traveled to China for two weeks both to visit a company we are invested in and also to visit a publisher who has translated into Chinese my father’s book on life as a newspaper reporter in China in the 1930’s (Haldore Hanson, Humane Endeavour, Farrar Rinehart, 1939). No matter how often I visit […]
Retail is Dead, Long Live Retail…
Is there hope for retailers with a heavy bricks and mortar presence? There may just be. In fact, it may just be that reports on the death of retail have been greatly exaggerated. For one thing, quite a few retailers have announced good holiday results. The tone at the recent ICR Conference for consumer and […]
Expecting The Unexpected…
2017 turned out to be a banner year for investors. Stock markets around the globe produced stellar gains with limited volatility and even bonds inched ahead in the face of gradually rising rates. Understandably, most are wondering if this benign environment can continue in 2018. In a recent article, the Financial Times predicted that this […]
The 2-Minute Thought: The Lesson from Retail Stocks: Patience
The stock of Kohl’s Corporation (KSS), the operator of Kohl’s department stores, fell from $79 in early 2015 to $36 by mid-2016. For anyone who got interested in the stock as it was falling, it’s been a frustrating period. Kohl’s has had its ups and downs, but the news has been generally dismal. The stock […]
The 2-Minute Thought: The Calendar Effect and Eating
In a recent Financial Times story that profiled several workers making sandwiches at the UK-based sandwich shop Pret A Manger, it was fascinating to read about the rhythms of the shift from 5 am through the breakfast and lunch rush. It also was fascinating to read that there’s a weekly pattern to what customers choose […]
The 2-Minute Thought Looking for Stocks Like Pepper Food Service
Source: Nikkei Asian Review Do you know Pepper Food Service? It’s a Japanese company that runs steak restaurant chains. If you haven’t heard of it, you’d be far from alone. But you may wish you had because its stock is up more than 800% since January of this year. At one point in late October, […]
The 2-Minute Thought: Tax Reform in a Different Spirit
Suffering from tax reform fatigue? If so, perhaps it would be refreshing to take a look at something completely different — like Japan, which also is planning changes to its tax code but in an entirely different spirit. What’s different? One thing is that although Shinzo Abe and his ruling Liberal Democratic Party are conservatives, […]
And This Year’s Winner Is…
We have been publishing a chocolate Holiday Treat in the December Newsletter for 20 years now, but we must confess it wasn’t until last year that we got our test kitchen act together. Now we are organized. Everyone in the office is challenged to bring in a chocolate recipe to be taste-tested by all and […]
