“My dear graduates, let me be frank, the best years are very much ahead of you. And they can be whatever you want them to be … You’re going to continue to evolve in unforeseen ways. What defines you now will be mere shades and hues of a more vibrant you over the next five, 10, 50 years. Honestly, I …
The Joys of Compounding: Reflections on Life and Learning for All Investors
May 18, 2023 in Signal from NoiseThere’s a Charlie Munger story about the art of patient investing, that quality that’s easy to talk about but hard to preach, and Gautum Baid tells it well. Munger, 99, has read Barron’s Magazine for over 50 years. In that span, he’s found only one actionable idea, a cheaply valued auto parts company, which he bought at $1 per share …
Investing in the Finer Things in Life: Opportunities in the Luxury Segment
May 4, 2023 in Signal from Noise“Right now only some people get to live in big houses, travel widely, and buy lots of nice things, but many more people want the same opportunity. The global economy has a good track record of turning this desire into reality.” ~ Knight Frank, Wealth Report 2022 On April 24, 2023, LVMH ($LVMHUY) became the first European company to surpass …
Lessons From Warren Buffett, with Robert Hagstrom
April 20, 2023 in Signal from NoiseIn mid-October 2008, with blood all over the streets, Warren Buffett penned a New York Times column: ‘Buy America. I am.’ Amid mass hysteria, the Oracle of Omaha made another contrarian move in a career defined by them. He predicted some of the U.S.’s most outstanding companies would be setting profit records in five, 10, and 20 years. It proved …
The Coming Water Crisis: Investing for Another Kind of Liquidity
April 6, 2023 in Signal from NoiseWater use has been growing globally at more than twice the rate of population increase in the last century, and an increasing number of regions are reaching the limit at which water services can be sustainably delivered, especially in arid regions. ∼ Water Scarcity, United Nations In Australia’s Darling River, millions of fish have died in recent months. Intensified agriculture …
The Psychology of Money
March 23, 2023 in Market Intelligence, Signal from NoiseMorgan Housel and his wife needed a house. It was June 2016, and they had agreed they wouldn’t make an emotional decision on one of life’s most significant commitments. This would be their first home, where they’d celebrate Christmas morning and welcome friends to backyard barbeques. Their son was about six months old. Being patient, they decided, would be critical …
New Frontiers in AI: Which Companies Can Take Us Into New Territory?
March 9, 2023 in Signal from Noise“People worry that computers will get too smart and take over the world, but the real problem is that they’re too stupid and they’ve already taken over the world.” ― Pedro Domingos, “The Master Algorithm” Many column inches in business and news media have been devoted to artificial intelligence in 2023, driven by the buzzy introduction of OpenAI’s ChatGPT (version …
Manage Emotions to Invest Like the Best
February 23, 2023 in Signal from NoiseSir John Templeton, the legendary mutual-fund manager who was a pioneer of international investing, lived in the quiet paradise of the Bahamas to escape the noise of Wall Street. He intentionally read The Wall Street Journal a few days late. His reasoning? He wanted to avoid emotional decisions based on news and headlines. He had lost as much as 10-15% …
5 Stocks for Times That Are A-Changin’
December 1, 2022 in Signal from NoiseThe line it is drawn, The curse it is cast, The slow one now, Will later be fast, As the present now, Will later be past, The order is rapidly fadin’, And the first one now, Will later be last, For the times they are a-changin’ -Bob Dylan, 1964 Revolution is in the air. Iran, China, Ethiopia, Russia and other …
Semis, Semis Everywhere … Sometimes Too Much, Sometimes Not Enough
November 10, 2022 in Market Intelligence, Signal from Noise“One day, semiconductor demand and supply will match up – for all of 30 minutes.”– attributed to Andy Grove, former CEO of Intel (1987 – 1998) It’s difficult to think of an aspect of our daily lives that doesn’t involve a semiconductor somewhere. From the device you’re using right now to read this to the refrigerator you’re about to raid …