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Category Archives: Corporate Earnings

Stocks post solid gains on positive earnings, guidance

In our view, though, investment students need only two well-taught courses – How to Value a Business and How to Think about Market Prices. Your goal as an investor should simply be to purchase, at a reasonable price, a part interest in an easily understandable business whose earnings are virtually certain to be materially higher […]

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Stocks rebound on positive earnings reports, possible tax cuts

The definition of insanity is doing something over and over again and expecting different results. – Albert Einstein After posting losses for the last two weeks, the Dow Jones Industrial Average and S&P 500 Index both rebounded with modest gains while the Nasdaq Composite Index hit an all-time on Thursday and ended the week up […]

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Stocks close lower as geopolitical tensions rise

We work really hard never to get confused with what we know from what we think or hope or wish. – Seth Klarman, American billionaire who founded one of the world’s largest hedge funds Stocks closed lower for the second consecutive week despite strong earnings from the major banks as the first quarter earnings season […]

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Stocks edge slightly lower in heavy news week

Here’s one truth that perhaps your typical investment counselor would disagree with: if you’re comfortably rich and someone else is getting richer faster than you by, for example, investing in risky stocks, so what! Someone will always be getting richer faster than you. This is not a tragedy. – Charlie Munger The major stock averages […]

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Stocks post gains as Dow, S&P 500 close at record highs

Further, security prices are greatly affected by investor behavior; thus we can be aided in investing safely by understanding where we stand in terms of the market cycle. What’s going on in terms of investor psychology, and how does it tell us how to act in the short run? We want to buy when prices […]

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Stocks close at all-time highs on strong economic data

All intelligent investing is value investing – acquiring more that you are paying for. You must value the business in order to value the stock. – Charlie Munger As investors continue to be optimistic and hopeful about President Donald Trump’s proposed economic agenda of deregulation, corporate tax cuts and fiscal stimulus, there was hard evidence […]

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Trump’s proposed tax plan sparks rally in stocks, Dow up 1%

In my opinion, there are two key concepts that investors must master: value and cycles. For each asset you’re considering, you must have a strongly held view of its intrinsic value. When its price is below that value, it’s generally a buy. When its price is higher, it’s a sell. In a nutshell, that’s value […]

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Strong January jobs report enables Dow to reclaim 20,000

An argument is made that there are just too many question marks about the near future; wouldn’t it be better to wait until things clear up a bit? You know the prose: “Maintain buying reserves until current uncertainties are resolved,” etc. Before reaching for that crutch, face up to two unpleasant facts: The future is […]

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Major stock averages at record highs as Dow closes above 20,000

Interestingly, we have beaten the market quite handsomely over this time frame, although beating the market has never been our objective. Rather, we have consistently tried not to lose money and, in doing so, have not only protected on the downside but also outperformed on the upside. – Seth Klarman Good things come to those […]

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Strong earnings fail to lift stocks as President Trump is sworn in

An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return. Operations not meeting these requirements are speculative. – Benjamin Graham Despite positive economic data and strong quarterly earnings reports, the major stock averages barely budged and ended the week modestly lower. The focus for investors was primarily on […]

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