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2 days ago · Unlike many investors who primarily focus on building trust in their financial models, we concentrate on evaluating the trustworthiness of management. We adopt a cynical approach, stress-testing the trustworthiness of management by assessing their capital allocation decisions and the language they use when describing risks and opportunities.
3 days ago · While a cynical investor may argue that JNJ should also jettison the MedTech segment in order to focus on the highly profitable Pharma business (20% MedTech margins vs. 36% for Pharma), we like ...
3 days ago · (Bull Markets eventually charge through every cynic, just as Bear Markets maul every cheerleader.) An investment magazine recently put a lottery-ticket surfer on its cover, as a reference to the explosion in 0DTE options trading. (Regulators as usual are asleep at the wheel — also a feature of extended cycles, not a bug.)
4 days ago · What do you think a no-cynicism workplace would look like? I wouldn’t advocate for a “no cynicism” workplace. I want to have significantly reduced cynicism in the workplace. I don’t think we should eradicate it entirely. But I think it’s become overwhelming to many organizations.
5 days ago · A brief introduction to stoicism, a 2,300 year-old philosophy that is distinct from cynicism (4:08); How to apply this to investing (6:14); Isn’t investing in indexes just the best way to go?
2 days ago · Ten years later, Mt. Gox customers are about to be reunited with their bitcoin. On June 24, the trustee responsible for managing the estate, veteran bankruptcy lawyer Nobuaki Kobayashi, announced ...
21 hours ago · A top 2% fund manager over the past 15 years shares 3 red flags marking trouble ahead for major stock-market indexes — and says these 2 investments are trading at big discounts. William Edwards ...
