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Author Archives: William Lynch

Nasdaq gains nearly 2% as technology & health care stocks surge

Acknowledge the complexity of the world and resist the impression that you easily understand it. People are too quick to accept conventional wisdom, because it sounds basically true and tends to be reinforced by both their peers and opinion leaders, many of whom have never looked at whether the facts support the received wisdom. It’s […]

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S&P 500 edges slightly higher despite Fed interest rate hike

Games are won by players who focus on the playing field – not by those whose eyes are glued to the scoreboard. – Warren Buffett Each of the three major stock averages posted different results last week as economic data was decidedly mixed and inconclusive and earnings reports were almost nonexistent. The Dow Jones Industrial […]

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Technology-laden Nasdaq plunges on valuation concerns

It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble. – Robert Shiller It was a tale of two markets this past week with the tech-heavy Nasdaq Composite Index plunging 1.6% and the S&P 500 Index posting only […]

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Major stock averages close at record highs despite lackluster jobs report

Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble. – Warren Buffett All three major stock averages closed at record highs last week as investors continued to hold out hope that economic growth would begin to accelerate, with or without help from President Trump’s pro-growth policies. The year is almost […]

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S&P 500, Nasdaq at record highs despite negative news

A man should never be ashamed to own that he has been in the wrong, which is but saying, in other words, that he is wiser today than he was yesterday. – Jonathan Swift Stocks snapped their two-week losing streak and, in the process, both the S&P 500 Index and the Nasdaq Composite Index closed […]

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Stocks rally to post modest losses in volatile week

Values aren’t fixed; they move in response to changes in the economic environment. Thus, cyclical considerations influence an asset’s current value. Value depends on earnings, for example, and earnings are shaped by the economic cycle and the price being charged for liquidity. – Howard Marks The S&P 500 Index plunged nearly 2% on Wednesday as […]

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S&P 500 closes slightly lower on weak retail earnings

Determine never to be idle. No person will have occasion to complain of the want of time who never loses any. It is wonderful how much may be done if we are always doing. – Thomas Jefferson The stock market’s three-week winning streak came to an end last week as both the Dow Jones Industrial […]

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S&P 500, Nasdaq close at record highs on earnings, jobs data

The number one idea is to view a stock as an ownership of the business and to judge the staying quality of the business in terms of its competitive advantage. Look for more value in terms of discounted future cash flow than you are paying for. Move only when you have an advantage. – Charlie […]

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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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