With Circuit City the Poster Child, Consumer Retail is Full of Land Mines
Today’s news that Circuit City would close 155 stores and re-negotiate leases on 566 others certainly isn’t shocking - the company has been an awful operator for several years and is one Hail Mary away from insolvency. That said, we shouldn’t ignore the potential harbinger of weakness across anything related to discretionary consumer spending.
I’m frankly [...]
A Note on Investment Strategy for the Secular Trends Portfolio
It has yet to be determined whether starting the Secular Trends Portfolio in September of 2008 was a unique blessing or a painful curse. From the outset I decided to create a long-only, all equity portfolio, and this is simply not environment for that. Volatility reigns the day for “economically sensitive” stocks, and apparently every [...]
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Investopedia Commentary- Where Third Avenue Sees Value (BAM, GGP, SPG, ESV, NBR)
- America's Biggest Companies Look Reasonably Priced (XOM, MSFT, QQQQ, AIG, BAC)
- Sandridge Energy Shifts Towards Oil (SD, OXY)
- Stong Dividends Worth A Look (AINV, STD, FNF, NYB, PBCT, NLY, CIM, EQR, HRP, MFA)
- The Bear Market Bottom - One Year Later (SMRT, FITB, DNDN, LVS)
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Pragmatic commentary on U.S. & global investing, demographics & secular trends, and the valuation of anything worth valuing. Objective, unbiased research; We believe in minimal design, zero gimmicks, and maximum results.
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