
Market Musings - February 21, 2018
We continue our blog series: Market Musings, Volume 2, Edition 11, giving our (hopefully not too random) thoughts on recent goings-on in the markets. Today, we present "Buffett on Inflation". Back in May 1977 Warren Buffett wrote an article for Fortune magazine (full article linked here) entitled "How Inflation Swindles the Equity Investor". Given that we now appear to be heading into an era of higher inflation, it pays to take a look back at Buffett's thoughts on the subject

Market Musings - February 16, 2018
We continue our blog series: Market Musings, Volume 2, Edition 10, giving our (hopefully not too random) thoughts on recent goings-on in the markets. Today, we present "Echoes of Bull Markets Past". "It was an era of peace and prosperity. A pro-business, pro-tariff (one might label him "America first") Republican President was in charge in Washington, DC. The last economic downturn, which had been extremely painful but fortunately fairly brief, was over eight years in the rea


Market Musings - February 13, 2018
We continue our blog series: Market Musings, Volume 2, Edition 9, giving our (hopefully not too random) thoughts on recent goings-on in the markets. Today, we present "Clash of The (Wannabe) Titans: LGND versus INVA". In this installment of Clash of the (Wannabe) Titans, we compare two pharma royalty companies, Innoviva, Inc. (ticker INVA) and Ligand Pharmaceuticals (ticker LGND). Below is the tale of the tape for these two entities as of 2:30 p.m. on February 12, 2018, as we


Market Musings - February 8, 2018
We continue our blog series: Market Musings, Volume 2, Edition 8, giving our (hopefully not too random) thoughts on recent goings-on in the markets. Today, we present "The Question of Conservatism (in Investing)". Back in the Stone Ages, or in January 1962 to be more precise, a manager of a small investment partnership sent his limited partners an update on the performance of their partnership for 1961 (for those curious, it was up 46% versus up 22% for the Dow Industrials).

Market Musings - February 2, 2018
"Blue skies Smiling at me Nothing but blue skies Do I see" --Irving Berlin, "Blue Skies" (1926) We continue our blog series: Market Musings, Volume 2, Edition 7, giving our (hopefully not too random) thoughts on recent goings-on in the markets. Today, we present "Netflix: Priced For (and Beyond?) Perfection". Netflix stock (NFLX) has lately gone parabolic, increasing from the $187 level just 2 months ago to $265 as of close of trading on February 1st, or up a massive 42% in j